United States. According to Straits Research, the revenue of the global automotive switch market was valued at $28,658.1 million in 2021. They are expected to reach $66,815.6 million by 2030.
This would grow at a CAGR of 8% over the forecast period (2022-2030).
The ever-increasing demand for passenger safety and comfort is forcing vehicle manufacturers to create new design experiences by effectively incorporating new technologies and processes. The dramatic shift from mechanical to electronic components is anticipated to increase the demand for automotive switches during the forecast period.
Automotive switches are one of the most essential components of the vehicle. They take care of the entire electrical system of the vehicle. They are required to control various vehicle functions, including lights, engine start/stop, mirror controls, etc.
Although manual automotive switches can perform these functions, circuit breakers are gaining immense popularity around the world due to the added convenience they provide by operating automatically. These switches reduce driver distraction and offer an additional safety feature. Circuit breakers work according to the responses of numerous sensors. Normally, they are installed in luxury vehicles and other high-end vehicles. When the light switch is in the automatic position, the headlights automatically turn on in response to low ambient light conditions, such as entering a tunnel at dusk or driving in rain or snow.
Similarly, circuit breakers increase driving comfort by allowing the action of the auto-dimming mirrors. In auto-dimming or auto-dimming mirror technology, a front sensor detects little ambient light coming from the car's headlights and instructs the rearview sensor to check for glare. The mirrors dim according to the intensity of the glare and clear themselves if the sensors do not detect the glare.
This technology is beneficial at night and prevents car accidents. Luxury automakers, such as Audi, BMW, Mercedes, Ford, Jaguar Land Rover, and others, equip their vehicles with a variety of circuit breakers to enhance the driving experience and safety of passengers. As a result, the increasing demand for automotive circuit breakers is expected to drive the global market during the forecasted period.
The increasing adoption of electronic systems in vehicles creates enormous opportunities
Mechanical switches previously controlled most of the vehicle's functions and applications. Today, manufacturers have begun to replace mechanical switches with electrical ones. Many automakers are installing more electronic components in response to the growing demand for more convenient and intelligent control of a vehicle's various functions.
Mechanical switches are more responsive, work faster, and are less expensive than electronic switches. The use of electronics in light and heavy passenger and commercial vehicles improves comfort, connectivity, efficiency and safety. Over time, electronics are expected to contribute significantly to the overall price of automobiles.
Electronic or electromechanical switches used in modern automobiles, such as rockers, levers, push buttons, and others, are commonly found in all of a car's 12-volt electrical systems and serve various purposes, such as turning on lights and controlling vital systems. As automotive applications become more prevalent, the required performance of switching devices is evolving at a rapid pace.
The widespread use of state-of-the-art electrical devices with smart features, such as safety and automatic diagnostics, in automobiles accelerates the adoption of technologically advanced automotive switches.
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