Control Panels for Automotive Industry Analysis

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The objective of the study is to define and segment the global market for passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). This report also segments the global market by component into rotary switch, roof control, roof light, touchpad, smart roof, electric window, locking function, side mirror, door panel light, and driver monitoring camera. The electric window segment is estimated to hold the largest market share. The growing inclination of consumers towards enhanced interior styling has boosted the electric window market.
Global Automotive Control Panel Market is projected to grow from USD 74.65 Billion in 2016 to USD 110.18 Billion by 2021, at a CAGR of 8.10%. Market growth is primarily driven by innovations and technological advancements in the automotive industry. The rising demand for electric vehicles also boosts the demand for automotive electronic components and control panels. The control panel provides easy access to various comfort and convenience features in the vehicle.

Research Methodology:

The research methodology used in the report involves primary and secondary sources. Secondary sources include paid databases and directories. In the primary research stage, experts from related industries and suppliers have been interviewed to understand the future trends of the automotive control panel market. The market size, in terms of volume (thousand units) and value (USD million), for various regions and product applications has been derived using forecasting techniques based on automobile demand and production trends. The OEM prices of automotive control panel components have been verified through primary sources. The bottom-up and top-down approaches have been followed to derive the market size, in terms of volume and value.
To know about the assumptions considered for the study, download the pdf brochure

Opportunities

  • Rising demand for interior styling
  • Development of solar sunroofs in cars
  • Partnership between major OEMs & domestic players

Challenges

  • Providing luxurious interiors at low price

Restraints

  • Recycling of plastic components used in automotive interiors

Critical Questions which the report answers:

  • Which region will lead automotive control panel market in future?
  • Which are key market players of market?
  • What are the major drivers and opportunities of market?
Speak to Our Analyst:
Driver monitoring cameras are estimated to dominate the market in terms of growth rate in 2016, followed by touchpads. Increasing vehicle electrification and the rising demand for enhanced cabin comfort and safety are driving the market for automotive control panels. The growing demand for safety features and application-based technologies represents a promising opportunity for automotive control panel manufacturers.
Electric windows are estimated to constitute the largest application market (by value), followed by rotary switches. Electric windows, rotary gear knobs, and various other features are generally found in the premium and luxury car segments. However, the passenger car segment is also expected to have high growth potential. Innovations and technological advancements in regions such as North America and Europe have resulted in the development of advanced technologies, and have consequently been driving the global market.
Driver Monitoring Camera: Fastest-Growing Segment
Driver monitoring cameras are estimated to be the fastest-growing segment of the automotive control panel market. These cameras detect any risky behavior on the part of the driver, and thereby help to avoid potentially dangerous situations during driving. The increasing incidence of road accidents caused by driver drowsiness or fatigue is driving the installation of driver monitoring camera systems. Increasing traffic in urban areas is also a key factor responsible for the rising number of road accidents. The rising demand for safety features in vehicles would accelerate the growth of the driver monitoring camera market.

About MarketsandMarkets

MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors.
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