Automotive Switch Market Global Trends, Industry Growth And Top Company Profiles 2020-2026

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Jan 27, 2021 (Market Insight Reports) —
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.

Increasing adoption of EVs across the globe

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.

Surging demand for premium vehicles with advanced features

Consumers are increasingly aligning towards sophisticated, sporting, advanced safety, and comfort features. For instance, vehicles integrated with push-button switches offer multiple safety & comfort features. These switches are being extensively utilized in ignition systems, volume control functions, channel control, radio control, and vehicle mode control. Increasing consumer spending on premium vehicles will supplement vehicle switch industry share over the forthcoming years.

EMS switches, in particular, are witnessing robust deployment in electric & hybrid vehicles as they can withstand high temperatures and offer accurate sensitivity. In 2019, the EMS switches segment held more than 15% of the industry share and is expected to showcase a growth rate of more than 4% over the analysis period.

Extensive uptake of switches for regulating numerous vehicle functionalities, such as parking sensors, door light, brake light, reversing light, coolant temperature gauge, oil pressure gauge, and radiator fan will change industry landscape in the coming years.

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Inclination towards advanced vehicle technologies across APAC countries

Vehicle manufacturers across APAC region are investing heavily on the development of advanced automotive switches, including tactile and haptic feedback technologies

Automotive Switch Market 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.

Table of Contents (ToC) of the report:

Chapter 1 Methodology & Scope

1.1 Methodology

1.2 Scope

1.2.1 Methodology and forecast parameters

1.2.2 Industry insights and validation

1.2.3 Definitions

1.3 Data Sources

1.3.1 Secondary

1.3.2 Primary

Chapter 2 Automotive Switch Market Summary

2.1 Automotive switch industry 3600 synopsis, 2015-2026

2.2 Business trends

2.3 Regional trends

2.4 Vehicle type trends

2.5 Product trends

2.6 Application trends

Chapter 3 Automotive Switch Market Insights

3.1 Industry Segmentation

3.2 Industry landscape, 2015-2026

3.2.1 Global automotive industry landscape, 2015-2026

3.2.2 Global automotive production statistics, 2015-2018

3.3 Industry ecosystem analysis

3.3.1 Research & development

3.3.2 Component supplier

3.3.3 Manufacturers

3.3.4 Distribution channel analysis

3.3.5 Vendor matrix

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COMTEX_379714983/2599/2021-01-27T22:17:18

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