Automotive switches are one of the major components that provide the control of intelligent mechanical structures and electronic systems. The switches enablethe driver to manage various functions from power window, mirror systems to temperature control and others. With the recent technological innovations and up gradation in vehicle control systems, the switches play a major role in any vehicular control.
The global automotive industry is growing atan unprecedented rate, the technology is pouring in parallel. Given the worldwide production reaching almost 94.5 million, up 4.5 percent from that of 2015, the profit margins of OEM and suppliers are at all time high compared to last 10 years.
OEM’s arein constant focus of the customer needs starting from autonomous features, electrification of components to human machine interface. OEM’s are identifying the major need for vehicle features that can be implementedwithin a compact area with digital features, for which they are partnering with tech designers who have more expertise in designing and producing digital components and software. For example, BMW and Toyota has a partnership with Microsoftto provide the glimpse of advanced technology features to their customers.
The notable improvement in the automotive switch in the recent years that changed the whole dynamics of the automotive industry is from keys to keyless entry and start will be followed by a switch to remote less key system and start. Moreover, the growing demands of electric and hybrid cars further supported the growth of the automotive switch market. In addition, the increasing demand of infotainment and other autonomous features in the passenger vehicle will boostthe automotive switch market. Fluctuating price of raw materials is hindering the growth for the market as the OEM’s are compelled to implementthe advanced features in the economy cars mostly in passenger cars segment. The technological advancements like infotainment and other advanced driver assistance system in the commercial vehicle segment posing a huge opportunity for the market.
The automotive switches market is segmented by various types like Knob switch, Rotary switch, Push button switch, toggle switch and others. Further, the switch market is also segmented by application type in automotive such as, Control module system, Transmission system, HVAC System and other control systems.
The autonomous car market is segmented broadly by geography which in turn can be sub divided into region specific.
Global Automotive Switches Market, By Type:
By geography, automotive switches market is segmented into North America, Europe, Latin America, Asia Pacific and rest of the world. Asia Pacific region is expected to dominate the market with China as the major contributor. Presence of India and Japan is also supporting the growth for the market in the particular region. The increasing demand for passenger cars and light commercial vehicle is boosting the growth in Asia Pacific region. Europe and North America is also expected to have considerable growth during the forecast period for the increasing adoption of autonomous and electric vehicle.
Globally, key leaders operating in automotive switches market are Continental AG, Panasonic Automotive systems Co., Leopold Kostal GmbH und Co., Sensata Technologies Holding NV, U-Shin, Robert Bosch GmbH, Alps Electric Co., Ltd, TRW Automotive Holdings Corp., among others.
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