Driving is an essential though complex and perilous task as even a slight distraction caused to the driver can lead to a mishap. This is particularly true when dealing with driving as a professional task. The driving is based on an analysis of the devices that improve driving practice, and at the same time, by improving the ergonomics and the interaction with the central console. It thereby reduces the possibility of distraction, helping the driver to focus on driving, thus making it a pleasant experience for him. The need for fast, efficient, and independent mobility in everyday life makes automobile the preferred means of transport in the world. As a matter of fact, most of the users spend long periods of time inside their cars, making way for bringing inside the vehicle and making combinations of new secondary functions that were unthinkable of being applied out of their original environments. These new aspects created a shift in the disposition of automobiles from a simple means of transportation to an extension of the other spaces where we live in. Beyond the simple features such as air temperature optimization, radio, or other accessories, there are several new technologies that have invaded the environment of the automobile driver, such as allowing him the access to internet and function on the onboard computer in the same way as any personal computer. Companies have constantly been developing high-quality products with enhanced features. This is in line with the increase in demand for customized and technologically automotive central console.
The global automotive central console market can be segmented based on component, vehicle, electrical vehicle, and region. Based on component, the automotive central console market can be divided into HVAC, navigation, audio system, park assistance system, and video display. In terms of value, the HVAC segment is projected to account for major share of the automotive central console market in the near future. The average distance traveled by a person has increased over the years. This has significantly boosted the need for controls inside car temperature, humidity, air flow, and convenience. Consumers are willing to spend more money in order to obtain high-quality products in the automotive central console market. In terms of vehicle, the automotive central console market can be classified into passenger vehicle, light commercial vehicle, and heavy commercial vehicle.
The passenger vehicle segment is expected to account for the key share of the automotive central console market, followed by light commercial vehicle and heavy commercial vehicle segments during the forecast period. Based on electric vehicle, the automotive central console market can be segregated into battery vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle. Continuous promotion and support by the government toward the usage of green energy is expected to drive the market for electrical vehicle during the forecast period. The hybrid electric vehicle segment constitutes a larger share of the global market than the battery electric vehicle or the plug-in hybrid electric vehicle segment.
Based on geography, the global automotive central console market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is the dominant market for the automotive sector. India, China, and Japan account for the leading share owing to the increase in production of vehicles in these countries. Furthermore, increase in expenditure on road infrastructure and rise in manufacturing activities in Asia Pacific are expected to augment the demand for commercial and passenger vehicles. This, in turn, is anticipated to boost the automotive central console market during the forecast period.
Key players operating in the global automotive central console market are Faurecia, GRAMMER AG, Magneti Marelli S.p.A., Rampage Products, TSI Products, Inc., PLASTIKON INDUSTRIES, INC., Heartland Automotive LLC, and Sanko Gosei.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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