Automotive Ignition Switch: Introduction
- Automotive ignition switch is a control system switch that activates the electrical systems in the vehicle. The switch starts the motor, which in turn activates the ignition system of the vehicle. Automotive ignition switch is primarily of two types: key type and button start type. Currently, vehicles are fitted with button start type switch owing an increase in vehicle electrification, which in turn is likely to boost the global automotive ignition switch market.
Key Drivers of Automotive Ignition Switch Market
- Rise in vehicle production across the globe is estimated to fuel the automotive ignition switch market. Increase in transportation of goods through roadways is likely to increase the demand for commercial vehicles and subsequently, enhance the use of automotive ignition switch among vehicle manufacturers. The spread of the coronavirus pandemic across the globe is prompting consumers to buy new vehicles, which is likely to boost vehicle sales across the globe and consequently, drive the demand for automotive ignition switches.
- Rise in vehicle electrification across the globe is likely to increase the penetration of button start type in vehicles, which is likely to boost the automotive ignition switch market. Rapid expansion of automotive industries across the globe is projected to further propel the global automotive ignition switch market. Major vehicle manufacturers across the globe are introducing light weight vehicles to enhance fuel efficiency and subsequently, increase the need of ignition systems in vehicles.
Europe & Asia Pacific to hold significant share of global automotive ignition switch market
- Europe is projected to account for a significant share of the global automotive ignition switch market due to stringent rules and regulations regarding vehicle emission norms enacted across the region. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers who have major facilities that undertake research & development regarding the ignition switch, which is likely to propel the automotive ignition switch market across the globe.
- Followed by Europe, Asia Pacific is projected to account a significant share of the global automotive ignition switch market due to an increase in sale of vehicles across the region. Rising demand for fuel-efficient vehicles across Asia Pacific is likely to drive the automotive ignition switch market in the region
Key Players Operating in Automotive Ignition Switch Market
The global automotive ignition switch market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the automotive ignition switch market are:
- Robert Bosch GmbH
- Hitachi Ltd.
- Honeywell International Inc.
- SUN DEVIL AUTO
- Del City
- RS Components
- Ozautoelectrics Pty Ltd.
- Delphi Automotive Plc
- YangMing Auto Parts Co. Ltd
Global Automotive Ignition Switch Market: Research Scope
Global Automotive Ignition Switch Market, by Product Type
- Key Type
- Button Start Type
Global Automotive Ignition Switch Market, by Vehicle Type
- Passenger Vehicle
- Utility Vehicle
- Light Commercial Vehicle
- Heavy Duty Trucks
- Bus & Coach
Global Automotive Ignition Switch Market, by Sales Channel
Global Automotive Ignition Switch Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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.
2. Insights and Tools
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.
3. Actionable Results
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?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.