How Will The Automotive Switch Market Register Revenue Growth Between 2020-2026?
Vehicle manufacturers are also leveraging IoT technology to develop cutting edge automotive features like connected Cars and Vehicle-to-Anything (V2X) communications, driving the demand for automotive switches. Burgeoning sales of LCVs and HCVs, which require a multitude of automotive switches, could stimulate the growth trajectory of global automotive switches market.
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With profound product significance, Global Market Insights, Inc., suggests that the automotive switch market may exceed USD 16 billion 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.
Why is APAC considered to be a lucrative revenue growth for automotive switch market?
APAC is expected to offer lucrative growth opportunities to the automotive switch industry 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.
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.
What are the aspects that are majorly accelerating the demand for automotive push-buttons?
Push-buttons are extensively used in vehicles to regulate the functioning of volume control systems, radio control systems, vehicle mode control, ignition control and channel control systems. To enhance accessibility and comfort for users, automakers are trying to come up with new improvements in push-button systems.
Taking Jan. 2018 as an instance, GMC introduced its 2018 GMC Terrain SUV in the North American International Auto Show which was integrated with both button & toggle switches for transmission control, located beneath the air conditioning control system on the center console for better accessibility. Such initiatives by automakers could aid passenger comfort, as well as drive the demand for push-buttons in the automotive industry.
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What are the key growth strategies adopted by companies in the automotive switch market?
Companies operating in the automotive switch industry are leveraging organic as well as inorganic growth strategies like new product launches, forming alliances to strengthen existing partner network, and getting involved in new markets across developing economies to strengthen business reach.
Taking an instance to highlight the same, in Nov. 2019, Diodes Incorporated., a U.S.-based semiconductor manufacturer, introduced PCIe 2.0 packet switches that are automotive compliant. These packet switches offer 3 & 4 port lanes and can be used for numerous automobile applications such as navigation assistance, telematics, in-vehicle routers, ADAS, and V2X/V2V communications.
The new product helped Diodes Inc. to deliver highly interoperable and low latency automotive switches to its clients. New product launch by industry participants may thereby accelerate the growth prospects of automotive switch market growth over the forecast timeframe.
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
Chapter 5 Automotive Switch Market, By Product
5.1 Key trends, by product
5.2 Push-button switches
5.2.1 Market estimates and forecast, 2015-2026
5.3 Rocker switches
5.3.1 Market estimates and forecast, 2015-2026
5.4 Rotary switches
5.4.1 Market estimates and forecast, 2015-2026
5.5 Toggle switches
5.5.1 Market estimates and forecast, 2015-2026
5.6 Multi-function switches
5.6.1 Market estimates and forecast, 2015-2026
5.7.1 Market estimates and forecast, 2015-2026
Chapter 6 Automotive Switch Market, By Application
6.1 Key trends, by application
6.2 EMS switches
6.2.1 Market estimates and forecast, 2015-2026
6.3.1 Market estimates and forecast, 2015-2026
6.4 Indicator system switches
6.4.1 Market estimates and forecast, 2015-2026
6.5 Electronic system switches
6.5.1 Market estimates and forecast, 2015-2026
6.6.1 Market estimates and forecast, 2015-2026
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