The automotive switch market is poised for stellar growth on the back of burgeoning production and sales of new, technologically advanced vehicles in the coming years.
Ocean View, DE -- (SBWIRE) -- 04/03/2020 -- Automotive switch market is likely to gain remarkable traction owing to rapid proliferation of IoT in the automotive industry. In addition, adoption of advanced technologies such as Vehicle-to-Anything communications and connected cars is further driving automotive switch market demand.
Integration of automotive switches to incorporate several functionalities in modern automobiles will positively impact industry growth. Automotive switches are typically used for the implementation of several features, such as telematics, Bluetooth, driver assistance technology and infotainment systems into vehicles.
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Increasing inclination towards electric vehicles may also support business scenario. The drive train electrification in electric vehicle requires a broad range of switches, sensors, microcontrollers, and other power electronics. Moreover, mounting demand for LCVs and HVCs that utilize a multitude of automotive switches to offer enhanced functionalities, will fuel product penetration over the coming years. Automotive switch market is forecast to cross the USD 16 billion mark by 2026.
Considering the market's completive landscape, companies like COBO S.p.A., Continental AG, C&K Components, Alps Electric, Inc, GSK InTek Co., Ltd., Delphi Technologies, Hella KGaA Hueck & Co., Marquardt GmbH, Leopold Kostal, Omron Corporation, Standard Motor Products, Panasonic Corporation, Tokai Rika Co., Ltd., Robert Bosch GmbH, Valeo, Vimercati SpA, Toyodenso, Preh GmbH, and ZF Friedrichshafen AG are currently focusing on developing new and advanced automotive switches.
APAC is expected to offer lucrative growth opportunities to the automotive switch market owing to the increasing demand for advanced vehicles in the region. Notably, nations such as India, China, and Japan are increasingly adopting vehicles with enhanced features such as driver-assistance, safety, and infotainment systems.
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Countries in APAC are also witnessing a burgeoning popularity for electric vehicles. These vehicles basically require a large number of automotive switches to support multiple electronic systems. Meanwhile, industry participants in the region are focusing on boosting product export to automobile OEMs primarily to gain a competitive edge over other firms in the automotive switch business.
Table of Contents (ToC) of the report:
Chapter 4 Automotive Switch Market, By Vehicle
4.1 Key trends, by vehicle type
4.2.1 Market estimates and forecast, 2015-2026
4.2.2 Market estimates and forecast, by product 2015 – 2026
4.3.1 Market estimates and forecast, 2015-2026
4.3.2 Market estimates and forecast, by product 2015 – 2026
4.4.1 Market estimates and forecast, 2015-2026
4.4.2 Market estimates and forecast, by product 2015 – 2026
4.4.3 Market estimates and forecast, by end-use 2015 – 2026
4.5 Two wheelers
4.5.1 Market estimates and forecast, 2015-2026
4.5.2 Market estimates and forecast, by product 2015 – 2026
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