Automotive Switches Market Demonstrates a Spectacular Growth by 2028

Posted on 2019-08-12 by Mark Hub in Internet & Online // 0 Comments

The report provides a coherent analysis on the automotive switches market which is backed up by qualitative and quantitative analysis. Additionally, the report delves into the happenings surrounding the market that have considerable impact on the growth of the Automotive switches market, incorporating drivers, opportunities, trends and restraints. Further, the report elucidates segregation of the market to offer a robust analysis of the market.

With the growing investments in electric and connected cars, the automotive switches industry is likely to face challenges in terms of declining requirement of automotive switches. The driver assistance technologies are flourishing in the automotive market where technologies such as face recognition, voice command and automatic emergency braking are being highly sought after. In addition, the digital touchpad infotainment system is witnessing a growing demand among digital-savvy consumers. Increasing preference for digitalization and liking for touch-based displays have encouraged automotive technology manufacturers to dip their toes into digital-driven business models. For instance, HARMAN and Samsung have recently revealed the first automotive electronics collaboration by unveiling the digital cockpit platform with 5G and IOT integration. As the automotive aftermarket enters digitalization, upcoming digital cockpit display is likely to decline the profitability of the automotive switches market during the assessment period.

The logistics industry is absorbing a lucrative growth trend backed up by conducive government regulations; rising focus on effective logistics management; growing inclination for sharing fleets and improving economic scenario. In addition, rapid development of e-commerce has had positive influence on the growth of automotive switches market. A considerable increase in the number of vehicle fleet associated with warehousing and transportation could be attributed to robust demand for effective inventory management and quick delivery.

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The popularity of handbrake automotive switches is being witnessed as conventional handbrakes are being superseded by automotive switches. The sophisticated technology offers saving of space in the hump area that can be aptly utilized for other functions. Handbrake automotive switches is not only confined to luxury vehicles; car manufacturers vie to replace traditional handbrakes with handbrake automotive switches.

According to the study, passenger car segment is slated to reign the automotive switches market with over 75 percent share. The rising demand for passenger cars in developing economies will propel the automotive switches market. As such, BIC—Brazil, India, China are significant contributors for the growth of automotive switches market.

The report is backed up by thorough research undertaken to provide a robust analysis. Primary sources and secondary sources have been used to provide a prudent assessment on automotive switches market. The secondary research includes EC filing, Factiva, trade journals and resourceful database. Further, the report is propelled by primary research, incorporating genuine review from experts, genuine views from seasoned analyst, surveys and telephonic interview. Meanwhile, the report also delves into absolute dollar opportunity analysis and Y-o-Y projections to offer deep dive analysis of the market.

Competitive Landscape

The competitive landscape section of the automotive switches market delivers a dashboard view of the key companies operating in the automotive switches market. The section also delivers a thorough information of key market players in the form of company profiles. Few of the key companies identified in the automotive switches market include Tokai Rika Co, Ltd., LS Automotive Technologies, Hella KGaA Hueck & Co., Panasonic Corporation, Robert Bosch GmbH, TE Connectivity, Honeywell International, ZF Friedrichshafen AG, Omron Corporation, Leopold Kostal GmbH & Co. KG, Toyodenso Co., Ltd., Industrial Engineering Syndicate (INENSY), and Aptiv PLC.

Toyodenso Co., Ltd. has recently signed an agreement with Immersion Corporation with an aim to integrate immersion’s haptic technology in Toyodenso’s automotive solutions to implement touch to control technology. Hella KGaA Hueck & Co., a leader in the automotive switches market recently opened a new electronics plant in Lithuania to accommodate rising demand for electronic components in the European market. Robert Bosch GmbH, another leader in the automotive switches market is expanding its presence in the electric mobility market and recently opened a new division Connected Mobility Solutions by acquiring U.S. start-up Splitting Fares Inc. LS Automotive Technologies Co. (LSAT), a Korean leader in the automotive switches market has recently announced the investment of US$ 60 million in company’s new plant in FINSA industrial park in Mexico to expand production capacity of automotive control systems including automotive switches modules.

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