In a Rapidly Changing Economic Scenario, Here’s What to Expect in the Global Automotive Control Panels Market in 2020 & Beyond
The global market for Automotive Control Panels is projected to reach US$129.4 billion by 2025, driven by electronification and electrification trends, and the resulting increased interactions in a connected semi-autonomous car.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Automotive Control Panels market. Report segmentation includes Component (Rotary Switch, Roof Light, Touchpad, Electric Window, Locking Function, Other Components).
24 June 4:30 A.M., California/Marketwire/ - According to the new market research report, the global market for Automotive Control Panel is projected to reach US$129.4 billion by 2025, driven by electronification and electrification trends, and the resulting increased interactions in a connected semi-autonomous car. Intuitive and safe automotive controls are gaining significant importance in automobile designs. An adroit balance of usability, performance and safety are key features for vehicle interfaces that need to be balanced for a successful control system design. Today, the key selling point for auto OEMs is performance of the electronics, unlike earlier when a car`s road performance took precedence. The transition to motorized controls increases the importance of automotive control systems.
The growing proliferation of touchscreen vehicle head units and center console units has created a safety challenge for OEMs. Automotive touchscreens have hit the peak of inflated expectations in their hype cycle, driven mostly by vendor assisted marketing and promotional strategies. Emerging signs of the technology being a failure in cars indicates that touchscreens are heading towards the trough of disillusionment where inflated expectations begin to die down. The scenario creates a tipping point for the traditional keyboard based systems. Interestingly, major reasons that make touchscreens a distraction in an automobile are also the same reasons why physical controls and control panel units are making a comeback. Few of the disadvantages of automotive touchscreens include high distraction index; lack of tactile feedback requires the driver to look at the touchscreen; necessitates the driver to take eyes off the road compounding the risk of accidents; longer cognitive processing for image based interfaces; requires multiple steps to complete a single operation; lower driver performance and higher task completion times; difficult to use and beset with a steep learning curve.
More number of cars in the coming years will therefore come out with touchscreens embedded alongside a set of fixed, physical buttons. Other major factors giving the more traditional control panels a new lease of life include stable global automobile production trends supported by China; affluent and growing base of middle class population with a robust appetite for digital features; growing demand for luxury cars against the backdrop of the fact that innovative instrument panels and control panels are key brand differentiators in this sector; and rise of push-button shifting as a clean, safe and futuristic control design in automatic transmission vehicles. Europe represents the largest market worldwide. The United States represents the fastest growing market with a CAGR of 9.6% over the analysis period. China follows next with an 8.9% CAGR supported by the fact that the country remains a cash cow for mass market and premium cars. Also, rising domestic automakers in the country are strongly focused on dominating the world`s next era of driving which opens opportunities for innovative component systems and sub-systems.
Key Competitors Covered in the Report
Alps Alpine Co., Ltd.
Calsonic Kansei Corporation (Marelli)
Carling Technologies, Inc.
Eissmann Automotive Deutschland GmbH
Hyundai Mobis Co., Ltd.
JP Minda (JPM) Group
Judco Manufacturing, Inc.
KOSTAL Automotive Electrical Systems
LS Automotive Technologies
Preh GmbH, Rees, Inc.
Toyodenso Co., Ltd.
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 11953. Among this pool, 1433 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 359 unique participations, a total of 162 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.