Press release
Strong Growth Ahead: Smart Tailgate Market Size To Grow At Arecord 9.4% Cagr By 2029
Smart Tailgate
How Big Is the Smart Tailgate Market Size Expected to Be by 2034?
The smart tailgate market size has grown strongly in recent years. It will grow from $3.47 billion in 2024 to $3.81 billion in 2025 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to growth in e-commerce and logistics, expansion of the electric vehicle (EV) market, rise in demand for shared mobility, increasing focus on user experience, and rise in demand for commercial vehicles.
Anticipated rapid expansion is on the cards for the smart tailgate market, with predictions estimating a growth to $5.46 billion by 2029, fueled by a compound annual growth rate (CAGR) of 9.4%. The upcoming growth for the forecast period is largely attributable to factors such as an escalating desire for high-end vehicles, a rising preference for automated, hands-free solutions, changes in urbanization and lifestyle, increased disposable income, and the mounting trend towards aftermarket customization. The forecast period also sees significant trends including the advent of multi-functional tailgates, mobile app integration, the use of augmented reality (AR), advancements in sensor, actuator, and automation technologies, as well as the amalgamation with smart vehicle systems.
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What Are the Emerging Segments Within the Smart Tailgate Market?
The smart tailgate market covered in this report is segmented -
1) By Type: Power Tailgate, Hands-Free Tailgate
2) By Technology: Sensor-Based, Camera-Based, Other Technologies
3) By Vehicle Type: Passenger Cars, Commercial Vehicles
4) By Application: Original Equipment Manufacturer, Aftermarket
Subsegments:
1) By Power Tailgate: Button-Controlled Power Tailgate, Remote-Controlled Power Tailgate, Sensor-Based Power Tailgate
2) By Hands-Free Tailgate: Foot Gesture-Activated Tailgate, Proximity Sensor-Activated Tailgate, Voice-Controlled Tailgate
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What Long-Term Drivers Are Shaping Smart Tailgate Market Trends?
The expansion of the luxury car segment is anticipated to fuel the evolution of the smart tailgate market. The said segment in the automotive industry is characterized by luxurious vehicles with superior quality, state-of-the-art technology, outstanding performance, and unique aesthetics. The swelling of the luxury car sector is attributed to increasing disposable earnings, along with a consumer shift towards high-end experiences. As the global wealth pool enlarges, more consumers are showing interest in luxury vehicles that guarantee paramount comfort, impressive performance, and the latest features. The smart tailgate benefits the luxury car sector by offering smooth, automatic access to the vehicle's trunk, enhancing convenience, safety, and a high-end user experience through innovative sensor technology. For example, a report published by the BMW Group, a German luxury vehicles and motorcycles manufacturer, in January 2024 revealed that they witnessed record-breaking sales in 2023. BMW Group delivered 2,555,341 vehicles of their elite brands like BMW, MINI, and Rolls-Royce, noting a rise of 6.5%. Additionally, in the final quarter of 2023, the company experienced a year-over-year sales growth of 10.3% to reach 718,778 units. Therefore, the ascension of the luxury car sector is leading to the growth of the smart tailgate market.
Who Are the Top Competitors in Key Smart Tailgate Market Segments?
Major companies operating in the smart tailgate market are Hyundai Motor Company, Kia Corporation, Continental AG, Magna International Inc., Aisin Seiki Co. Ltd., Opmobility Ltd., Brose Fahrzeugteile GmbH & Co. KG, Mitsuba Corporation, Huf Hülsbeck & Fürst GmbH & Co. KG, Wuling company, Shenzhen Qinglian Tongchuang Automobile Electronics Co. Ltd., Padmini VNA Mechatronics Ltd., NMB Technologies Corporation, Huizhou Yopine Technology Co. Ltd., Veigel GmbH + Co. KG, Twirl Motor Technologies, Shenzhen Zhaowei Machinery & Electronics Co. Ltd, Dongguan Kaimiao Electronic Technology Co. Ltd, Guangzhou Tomaster Auto Parts Co. Ltd, Guangzhou Zhihang Electronics Technology Co. Ltd
What Smart Tailgate Market Trends Are Gaining Traction Across Different Segments?
Leading firms in the smart tailgate market are prioritizing the invention of revolutionary technology, such as sound minimization technology, to enrich the user experience and heighten the quietness of the vehicle interior. Sound minimization technology implements sound-absorbing materials, active sound nullification, or vibration-quelling techniques to lessen undesirable noise. This technology diminishes mechanical and aerodynamic noise, thus enhancing the comfort of passengers and the efficiency of the vehicle. For instance, in February 2024, a renowned manufacturing firm based in China, Shenzhen Zhaowei Machinery & Electronics Co. Ltd., unveiled the smart electric tailgate actuator. This product enables the automatic operation of the tailgate via a remote control, increasing user convenience notably when handling multiple objects. It comes with lower noise, stable functionality, a compact design, substantial torque, and high-load capacity, thus enhancing overall user satisfaction. The use of sound-reduction technology in smart tailgate systems mirrors the escalating demand for quieter and more effective vehicle parts in contemporary cars.
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Which Regions Are Becoming Hubs for Smart Tailgate Market Innovation?
North America was the largest region in the smart tailgate market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart tailgate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Tailgate Market?
2. What is the CAGR expected in the Smart Tailgate Market?
3. What Are the Key Innovations Transforming the Smart Tailgate Industry?
4. Which Region Is Leading the Smart Tailgate Market?
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