Press release
Navigation Switches Market to Witness Comprehensive Growth by 2027
The market for navigation switches is anticipated to witness healthy growth rates in the forecast period, owing to increasing inclination of vendors towards safety in automotive industry. A navigation switch basically consists of a stick with several pushbuttons on it. The movement of stick activates one out of the four pushbuttons namely up, down, left and right. There can be many types of navigation switches such as joystick, thumb stick, trackball, thumbwheel and many more.
Global Navigation Switch Market: Market Dynamics
The shift of focus of vehicle manufacturers towards safety as well as increasing use of multi-function gaming consoles are the main factors driving the market for navigation switches. Automobile manufacturers are continuously focusing towards the integration of safety systems in order to protect customers from dangerous situations. This has led to an exponentially increased use of navigation switches in the safety components of automobiles. Also, the demand for fly-by-wire technology is increasing. The fly by wire technology provides various advantages such as reduced aircraft weight, reduced costs, simpler communication, reduced maintenance and many more. As the adoption of fly-by-wire aircrafts increase, the market for navigation switches is anticipated to rise exponentially in near future.
However, increasing gaming on smartphones and tablets is hindering the growth of the market. Owing to its cost-effectiveness, gamers are shifting to smartphones. As the trend of gaming on smartphones increases, it can thwart the market growth for navigation switches.
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Global Navigation Switch Market: Segmentation
Global Navigation Switch market is segmented on the basis of application and region.
On the basis of application, the global Navigation Switch market can be segmented into aircrafts, gaming consoles, automobiles and others.
Global Navigation Switch Market: Competition Landscape
The key vendors in the global Navigation Switch market are Adafruit Industries, APEM, C&K Components, E-Switch and Grayhill. Collaborating with other players in the navigation switches market is the key strategy followed by major market vendors to gain competitive edge.
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Global Navigation Switch Market: Regional Outlook
Regionally, the global Navigation Switch market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.
The North America is the largest contributor to Navigation Switch market owing to high focus on safety in the region with a high inclination towards innovations obtained from Research and Development (R&D). Asia Pacific is however anticipated to witness highest CAGR in near future. North America, followed by Europe, is the second largest contributor to the market and is expected to witness moderate CAGR in near future.
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