Introduction
The ongoing advancement in digital technologies and the integration of electronics and IoT in the automotive industry has become a vital indicator of development of new models. In this path of development, more and more advanced electronic technologies are being adopted in the chassis & safety and control system, and the automotive locking switch is one of them. Automotive locking switch, also known as the central locking system, offers passenger and driver safety by enabling locking of all the doors manually or automatically.
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Automotive Locking Switch Market: Dynamics
The frequency of innovation and new technologies coming in the market are increasing day by day in the global automotive industry. Also, the number of manufacturer, distributors, and local venders in automotive industry are increasing.
Further, the increasing consumer preference towards the integrated electronics inside the vehicle owing to improved safety and more convenience driving the global automotive locking switch market, also the automotive locking switch provide the necessary safety to the vehicle by locking or unlocking all windows and doors through the locking switch.
As the awareness regarding safety features of a vehicle is growing, the demand for advanced automotive locking switch is increasing, which in turn, is predicted to create more opportunistic market for the automotive locking switch manufacturers and distributors.
Modern vehicle are equipped with the numerous electronic system, such as heated seats, infotainment, electric steering, transmission, acceleration and headlight controls advantages. Moreover, owing to increasing consumer preference for advance and integrated electronics at the interior of vehicle, in order to improve safety and convenience in the vehicle, driving the global automotive locking switch market.
All the aforementioned factors are expected to have significant impact on the global automotive locking switch market.
However, the rising prices of raw material required for the manufacturing of automotive locking switch could hamper the growth of the automotive locking switch market.
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Automotive Locking Switch Market: Segmentation
Based on the product type
- Induction Type
- Button Type
Based on the vehicle type
- Passenger Cars
- Compact
- Midsize
- Luxury
- SUV
- Commercial Vehicles
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Based on the sales channel
- OEM
- Aftermarket
Automotive Locking Switch Market: Regional Outlook
Considering regions, the market of automotive locking switch is anticipated to be led by Europe during the forecast period owing to the fueling automotive industry in the region. Among the emerging countries, China and Brazil are expected to dictate a substantial share in the automotive locking switch market owing to a huge presence of manufacturers in the country.
North America is anticipated to witness a robust growth as a result of growing adoption of technologically advanced vehicles. The Asia Pacific holds a notable opportunities in the automotive locking switch market due to the significant growth in per capita income in this region.
A medium-to-high growth is expected in the Latin America owing to increasing demand for advance and integrated electronics at the interior of the vehicle, such as automotive locking switch and others. MEA is an emerging market for the automotive locking switch, owing to rise in the standard of living, substantial improvement in the GDP, increasing per capita income and growing penetration of connected features in the vehicle.
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Automotive Locking Switch Market: Market Participants
The prominent manufacturers involved in the production of automotive locking switch are strongly focusing on the innovation and technological advancement in the product in order to gain competitive advantage. Also, the manufacturers are focusing on expansion of their business through mergers and collaboration activities.
The key players involved in the automotive locking switch market are Robert Bosch GmbH, Denso Corporation, Delphi Technologies, Contentinal AG, Omron Corporation, Panasonic Corporation, Alps Electric Co., Ltd, Mitsumi Electric Co., Ltd. and others.
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