Automotive Steering-Mounted Electronics Market - Decreasing Prices Of Electronics Which In Turn Will Increase The Adoption Of Steering-Mounted Electronics In The Coming Years

Steering mounted electronics are essentially electronic circuits wherein the electronic components are attached or mounted directly onto the surface of the steering of an automobile. The steering, where the components are placed has a flat tin-lead, gold plated, or silver copper pads deprived of holes. These are known as solder pads. The solder paste (mixture of miniature solder particles and flux) is applied to all the pads with the help of a nickel stencil or stainless steel. It can be applied through a jet-printing mechanism as well. After pasting is done, the boards are positioned on a conveyor belt. Numerical control machines pick and place the parts on the printed circuit board.

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The global automotive steering-mounted electronics market is likely to grow at a significant CAGR during the forecast period. A primary factor driving the market growth is the decreasing prices of electronics which in turn will increase the adoption of steering-mounted electronics in the coming years. Steering-mounted electronics also help improve the occupier/driver and pedestrian safety as the system reduces driver distraction. Vendors are placing the buttons in a steering wheel in suitable positions so they are accessible effortlessly by the thumb or other free portions of the driver’s hand, without the requirement to take out the hands from the steering wheel. Additionally, the low-priced electronics have recently gained extensive popularity especially in the passenger car market which is likely to boost the growth of the global automotive steering-mounted electronics market.

Another trend that is likely to gain momentum in the automotive steering-mounted electronics market is the growing prevalence of gesture recognition technology in the steering wheels. This technology increases the convenience and comfort levels of the drivers when controlling the system functions inside the vehicle. This technology offers features such as navigating amongst the vehicle infotainment options, modify overhead lighting and ambient temperature, open and close doors and windows commands and answer phone calls, among many others. Furthermore, the recognition and the processing of the gestures are done by algorithms (gesture-based) using sensor-based systems.

Increased inclusion of electrical and computer systems such as sensors, actuators, and displays in automobiles along with other functionalities such as drive control and engine control in which automotive computer chips are used, is likely to fuel the overall automotive steering-mounted electronics market during the forecast period.

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The global automotive steering-mounted electronics market is segregated by vehicle type and geography. By vehicle type, the market is divided into low-mid-market, ultra-mid-market, mid-entry market, ultra-entry level, low-luxury, ultra-luxury, mid-mid-market, mid-luxury, and low-entry level. The global automotive steering-mounted electronics market is segmented into five regions. They are, North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of revenue, North America held a significant share of the market. Some of the other factors responsible for the growth of the automotive steering-mounted electronics market in this region are increasing demand for automated cars as well as self-drive vehicles, technological advancements, and high adoption rate of computer controlled systems in automobiles among consumers. However, Asia Pacific is likely to grow at a significant rate owing to the increasing demand for automobiles and rising purchasing power of the population of this region.

The global automotive steering-mounted electronics market is very competitive in nature with the presence of a large number of international vendors. Technological advancements, quality, price, and customer relationship management are some of the key factors for the growth in the global market. Some of the tech companies operating in the automotive steering-mounted electronics market are Autoliv, Continental, SKF, Delphi Automotive, ZF TRW. Some of the other companies operating in the market are Autograde International, Panasonic, Cartek Automotive Electronics, Texas Instruments, and Pioneer.

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