The top 10 automotive technologies market is projected to grow at a CAGR of 17.35% during the forecast period, to reach a market size of USD 139.02 Billion by 2021
Seattle, WA -- (SBWIRE) -- 03/30/2017 -- The report "Top 10 Automotive Technologies Market (Remote diagnostics devises, biometric vehicle access, vehicle security, 3D printing in Automotive, On board internet, HUD, Vehicle Intelligence, Night Vision system, BDS, LDWS ), and Region - Global Forecast to 2021", The automotive market for top 10 automotive technologies is projected to grow at a CAGR of 17.35%, to reach a market size of USD 139.02 Billion by 2021.
Browse 87 market data tables and 66 figures spread through 176 pages and in-depth TOC on "Top 10 Automotive Technologies Market - Global Forecast to 2021"
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The market is driven by factors such as rise in demand of luxury vehicle and luxury features in the developed as well as developing countries, government regulations for safe and secure drive coupled up with OEMs preference for advanced technologies has propelled growth of automotive technologies.
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"The Asia-Pacific to be the largest market for top 10 automotive technologies"
The Asia-Pacific is expected to dominate the market for the top 10 automotive technologies, and is projected to capture the highest market share in terms of value during the forecast period. Asia-Pacific has created promising opportunities for automobile market and technology provider companies. Increasing income levels and rapid urbanization is expected to push the market by leading to growth in vehicle sales.
"Vehicle security systems to be the largest segment in the market for top 10 automotive technologies"
Vehicle security systems are expected to dominate the market for the top 10 automotive technologies, and are projected to capture the highest market share in terms of volume. According to Interpol statistics in 2015 there has been 7% increase in vehicle theft as compared to 2014, this increase is accounts to the high-tech and modern theft techniques. With an increasing number of advanced vehicle technologies, the automotive technologies market has seen an increased demand, especially for the vehicle security systems market.
"On board internet services to be the fastest growing segment in the top 10 automotive technologies market"
The On board internet services segment is projected to grow at the highest CAGR during the forecast period. The growth of the application of on board internet services is influenced by factors such as the rollout of high speed connectivity solutions such as 4G and 5G, and increasing penetration of telecom services in automotive industry. For instance, companies such as BMW have started to offer integrated sim card with their cars so that calls can be made through vehicles without connecting mobile with the vehicles.
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