Allied Analytics LLP
The global automotive switches market is witnessing growth due to several factors such as increasing demand for advanced driver assistance systems (ADAS), increasing adoption of electric vehicles, and technological advancements in automotive switches.
WILMINGTON, Del., Oct. 06, 2024 (Globe Newswire) — Allied Market Research reports the Automotive Switches Market by Type (Ignition Switches, HVAC Switches, Steering Wheel Switches, Window Switches, Overhead Console Switches, Seat Controls) ) has been published. switch, door switch, hazard switch, multi-purpose switch, etc.), design (rocker switch, rotary switch, toggle switch, push switch, other switches), vehicle type (passenger car, light commercial vehicle, large commercial vehicle), sales channel (original equipment trademark) Product Manufacturers and Aftermarket: Global Opportunity Analysis and Industry Forecast, 2024-2033.” According to the report, the automotive switch market was valued at $18.1 billion in 2023 and is estimated to reach $31.2 billion by 2033, growing at a CAGR of 5.8% from 2024 to 2033.
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Key determinants of growth
The global automotive switches market is witnessing growth due to several factors such as increasing demand for advanced driver assistance systems (ADAS), increasing adoption of electric vehicles, and technological advancements in automotive switches. However, the high cost and stringent regulatory requirements of advanced automotive switches hinder the market growth to some extent. Moreover, expansion of emerging markets and development of smart and connected switches provide lucrative opportunities for expansion of the global automotive switches market.
Segment highlights
The window switch segment is expected to grow faster throughout the forecast period.
Based on type, the window switch segment held the highest market share in 2023 as it is an essential component in any vehicle as it controls the operation of power windows. With modern vehicles increasingly focusing on convenience and comfort features, reliable and easy-to-use window switches remain in high demand across all vehicle segments, from entry-level cars to premium models. .
The rocker switch segment is expected to grow faster throughout the forecast period.
Based on this design, the rocker switch segment held the highest market share in 2023. Rocker switches are widely used in a variety of applications, including controlling power windows, mirrors, sunroofs, and other useful features. Simple and intuitive operation is possible, and the rocking motion makes it easy to use while driving. Additionally, rocker switches are cost-effective and can be designed in a variety of shapes and sizes to suit different vehicle interiors.
the story continues
The passenger vehicle segment is expected to grow faster over the forecast period.
Based on vehicle type, the passenger car segment will be the highest market in 2023 as passenger cars make up a large portion of the global vehicle population and require a wide range of switches for various functions such as power windows, door locks, switches, etc. We got our share. Mirrors, seats, air conditioning system. Increasing demand for convenience and comfort in passenger cars, as well as increased production volumes, are driving the demand for automotive switches in this segment.
The OEM segment is expected to grow faster over the forecast period.
Based on sales channel, the OEM segment held the highest market share in 2023. OEMs have long-standing partnerships with switch suppliers and rely on them to deliver high-quality, reliable, and cost-effective switches. Meet your specific requirements. Additionally, the growing demand for new vehicles and the need for automakers to differentiate their products through a variety of features is increasing the dominance of OEM sales channels for automotive switches.
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Regional outlook
By region, Asia Pacific held the highest market share in terms of revenue in 2022. The Asia-Pacific region is home to some of the world’s largest automotive manufacturing hubs, including China, Japan, South Korea and India. In these countries, increased disposable income, urbanization, and favorable government policies have led to significant growth in automobile production and sales.
player:
This report provides a detailed analysis of these key players in the global Automotive Switches market. These players are adopting various strategies such as new product launches, collaborations, expansions, joint ventures, and agreements to increase their market share and maintain a dominant share in different regions. . The report helps to introduce the competitive scenario by highlighting business performance, business segments, product portfolio, and strategic moves of market players.
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Recent developments:
In September 2023, Continental and Ethernovia, Inc. develop a high-bandwidth, low-latency switch using a 7nm process tailored for automotive applications to power data movement within software-defined vehicles (SDVs). announced a partnership to Their initial focus will be on integrating this advanced switch into high-performance computers (HPC) developed by Continental. Following this, the partnership will expand to the development of highly integrated network chips specific to automotive applications.
In May 2022, Marvell Technology, Inc. announced the 3rd generation Marvell Brightlane Ethernet switches, recognized as the most secure managed switches in the automotive industry. This switch is the first switch with lockstep dual-core Arm processing redundancy, ensuring high reliability for mission-critical applications that improve vehicle safety and performance. Designed as a digital framework for next-generation Ethernet-based zone architectures, the new switches offer increased bandwidth and increased port counts compared to previous generations, as well as a set of advanced security and networking features. .
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