Automotive Switch Market 2020 Global Industry Trends | Growth Dynamics To 2026
Selbyville, Delaware, United States, September 15 2020 (Wiredrelease) Global Market Insights, Inc –:Automotive switch market is likely to gain remarkable traction owing to rapid proliferation of IoT in the automotive industry. In addition, adoption of advanced technologies such as Vehicle-to-Anything communications and connected cars is further driving automotive switch market demand.
Integration of automotive switches to incorporate several functionalities in modern automobiles will positively impact industry growth. Automotive switches are typically used for the implementation of several features, such as telematics, Bluetooth, driver assistance technology and infotainment systems into vehicles.
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Increasing inclination towards electric vehicles may also support business scenario. The drive train electrification in electric vehicle requires a broad range of switches, sensors, microcontrollers, and other power electronics. Moreover, mounting demand for LCVs and HVCs that utilize a multitude of automotive switches to offer enhanced functionalities, will fuel product penetration over the coming years. Automotive switch market is forecast to cross the USD 16 billion mark by 2026.
Electric vehicles are gaining massive popularity across the globe and increasing adoption of these vehicles will drive the demand for the additional new electronic components, which, in turn, will favor automotive switch industry growth.
Surging popularity of electric two-wheelers is also a key factor supporting market growth. OEMs are developing rugged and waterproof automotive switches to safeguard electric scooters and premium electric bikes from environmental conditions such as rain and dust and short-circuit, excess heat build-up, which they are invariably subject to. Electrification of two-wheelers supported by increasing consumer inclination towards electric vehicles will favor business expansion. The two-wheelers segment will grow at a CAGR of 3% over 2020 to 2026.
APAC vehicle switch industry is set to register a CAGR of 4% over 2020-2026 due to increasing inclination towards advanced vehicle technologies in the region. Widescale adoption of infotainment system and safety systems, such as ADAS in countries such as Japan, China, and India is poised to accelerate product deployment. Additionally, increasing popularity of electric vehicles in the region is also creating lucrative opportunities for industry growth.
Some Point from Table of Contents:
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
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/automotive-switch-market
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