Global Automotive Steering-Mounted Electronics Market 2017-2021

Overview of the global automotive steering-mounted electronics market

Technavio's market research report predicts that the global automotive steering-mounted electronics market will grow at a CAGR of nearly 4% during the forecast period. One of the primary drivers for the market's growth is the falling prices of automotive electronics to drive the adoption of steering-mounted electronics. Steering-mounted electronics help enhance the occupant and pedestrian safety by reducing driver distraction. It is quite easy for the automotive manufacturers to the steering wheel controls to support the safety campaign. Vendors need to place steering wheel buttons in appropriate positions so it is easily accessible by the thumb or other free portion of the driver's hand, without the need to remove the hands from the steering wheel. Moreover, the smaller, low-priced electronics have gained wide popularity in the passenger car market which, in turn, leads to the growth of the market.

One of the latest trends that will gain traction in the global automotive steering-mounted electronics market is the introduction of gesture recognition technology on steering wheels. The gesture recognition technology amplifies the comfort and convenience levels of the drivers in controlling the in-vehicle system functions. The technology offers features like navigating among the vehicle infotainment options, adjust overhead lighting or ambient temperature, open and close doors and windows and answer or reject phone calls, among others. Moreover, the processing and the recognition of the gesture moves are done using gesture-based algorithms by sensor-based systems. 

Competitive analysis and key vendors

The global automotive steering-mounted electronics market is quite competitive with the presence of international vendors. Technological advancements, price, quality, and customer centrism are the key factors for the growth in the market. Therefore, it becomes imperative for the manufacturers to distinguish their product offerings with a clear and unique value proportion.

Key vendors in the market are:

• Autoliv
• Continental
• Delphi Automotive
• SKF
• ZF TRW

Other prominent vendors include Autograde International, Cartek Automotive Electronics, Panasonic, Pioneer, and Texas Instruments.

Segmentation by vehicle type and analysis of the automotive steering-mounted electronics market

• Low-mid-market
• Ultra-mid-market
• Mid-entry market
• Ultra-entry level
• Low-luxury
• Ultra-luxury
• Mid-mid-market
• Mid-luxury
• Low-entry level

To offer clients effective insights into the growth of the automotive steering-mounted electronics market, the analysts at Technavio have segmented the global market by vehicle type (segment and sub-segment-wise) to give a holistic view of the technological availability. The analysts at Technavio have also noted that the market is extremely dynamic, in terms of market share across vehicle types. An analysis of the vehicular sub-segment-wise market share shows that the low-mid market takes the highest market share among all the other sub-segments.

Segmentation by geography and analysis of the automotive steering-mounted electronics market

• Americas
• APAC
• EMEA

In terms of geography, the Americas and APAC have the most widely known mid and luxury segments of the automotive industry. The US and European markets account for the major sum of steering mounted electronics offering in the regions. Factors like pricing of the cars, and discounts for different consumers in the region drive the growth of the segment these regions.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global automotive steering-mounted electronics market?
• What are the key market trends impacting the global automotive steering-mounted electronics market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive steering-mounted electronics market?
• What are the market opportunities and threats faced by the vendors in the global automotive steering-mounted electronics market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global automotive steering-mounted electronics market?

Technavio also offers customization on reports based on specific client requirement.

Related reports

• Global Automotive Steering-Mounted Electronics Market 2017-2021
• Global Hydraulic Steering System Market 2017-2021
• Global Automotive Steer-by-wire System Market 2016-2020

Technavio, a global market research firm, has recently announced the launch of its upcoming market research report on the automotive steering-mounted electronics market for the forecast period of 2017 to 2021. This upcoming market research report takes into consideration the latest trends and drivers affecting the market landscape for the automotive electronics segment to estimate the market's overall growth prospects. Furthermore, research professionals have also observed that this segment is witnessing profound market advancements in terms of safety and vehicle performance, which is anticipated to influence the automotive industry's growth. Our actionable market reports offer information on how major players like Delphi, Denso, Magna, and Robert Bosch and original equipment manufacturers (OEMs) are shaping markets by offering efficient electronic power steering components across the automotive sector.

To give clients the insights they are looking for, Technavio's industry experts have focused on the global outlook of the automotive electronics sector to provide an intensive market analysis of the growth prospects and latest developments for the automotive steering-mounted electronics market. Several automotive companies are also focusing on cost-optimized systems and installing sensors and microcontrollers to enhance the vehicle's performance. Most auto electronic companies are improving the control, sensing, and power features in vehicles for greater fuel savings and lesser emissions. To present a comprehensive picture of the market, analysts have also studied the market size and forecast from a global perspective, segmentations, and vendor profiles of several automotive industry stakeholders.

Extensive industry analysis has also revealed that with the shift of several production units to cost-effective emerging economies, the global automotive electronics industry will witness a substantial amount of growth in the coming years. To cater to the specific business requirements of the clients, Technavio's upcoming market research report takes into account the growth of other markets like automotive electronic parking brake and automotive night vision systems, which are expected to grow at a CAGR of more than 8% and 16%, respectively by 2020.   Our market research reports also give a 360-degree view of the overall automotive industry, subsequent product innovations, sales statistics and projections, and up-to-date analysis of the ongoing research activities related to automotive electronics like engine electronics, transmission electronics, automotive safety systems, and infotainment systems.

The market report for automotive steering-mounted electronics also identifies the key drivers, emerging trends, as well as the challenges that the automotive electronics industry is currently experiencing. It also presents insights into the changing competitive landscape to give clients a realistic picture of the future direction of the overall automotive sector.