Automotive Switch Market Current Growth Analysis of Elphi, Continental, Omron, Tokai Rika, Hella and ZF TRW

Selbyville, DE -- (SBWire) -- 11/28/2018 --The global automotive switch market is estimated to record a significant growth rate over the coming years owing to burgeoning automobile demand, emergence of electric vehicles, and increased adoption of automotive electronic systems globally. Considering today's population and urbanization growth rates, the public tends to spend more time caught up in traffic. As a result, modern vehicles have now come to be equipped with several electronic and automated systems which keep consumers engaged. An article by Forbes recently reported that an average American in LA spends 102 hours in traffic, while a New Yorker spends about 91 hours.

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Automobile production has also been increasing consistently, especially in developing nations like India, which witnessed sales of around 230,870 vehicles in October 2018 from its top five car manufacturers – Maruti Suzuki, Hyundai, Tata Motors, Mahindra, and Honda. Having identified the rising demand for vehicles, carmakers are competing to innovate unique in-car infotainment features that keep consumers engaged while commuting. In this backdrop, it is prudent to state that innovation in car electronics will fuel the automotive switch market in the coming years.

Another factor worth considering is the increasing demand for electric vehicles due to global pollution concerns. Recently, major carmaker General Motors decided to lay-off 15 percent of its workers, shut five plants and manufacturing of six vehicle models to shift focus on electric and autonomous vehicle programs. The rise in electric car production will further enhance the demand for electronic vehicle systems, which will in turn drive automotive switch market growth.

Advanced automobile technologies such as touch panels and gesture recognition systems have replaced the knob and button pattern inputs. OEMs are focusing on providing touch based features for dashboard and rear entertainment systems. Luxury car manufacturers are incorporating touch panels for managing the controls and simplified functionality. These panels are integrated for the operations such as receiving calls, rear view camera, and GPS navigation.

Button switch market demand is on the rise across commercial and passenger vehicles, since the adoption corresponds to electronic system incorporation. Companies have focused on the touch pad implementation to cater to changing consumer preferences and broaden global presence. Quick reach and tactile feedback properties without distracting have fueled the automotive switch market demand for button-based modality.

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Engine management applications of the automotive switch market are expected to grow at over 4% CAGR from 2017 to 2024. Electric, autonomous and hybrid vehicles will have higher demand owing to improve the vehicle efficiency and control the electronics inside the vehicles.

Europe automotive switch market share will benefit from the adoption of advanced electronics by OEMs. China ranked as the largest passenger car manufacturer having produced more than 24 million cars in 2016, accounting for about 34% of global passenger vehicle production. Significant domestic automobile sales and growing consumer demand will also drive the China automotive switch market size.

Automotive Switch Market By Product
Knob
Lever
Button
Touchpad
Others
Automotive Switch Market By Application
HVAC
Indicator system switches
EMS switches
Others
Automotive Switch Market By End-Use
Commercial
Passenger

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