Technavio, a tech-focused market research firm, has published a new report on the global automotive haptic accelerator pedal market, which is expected to experience an exponential growth at a CAGR of close to 24% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global automotive haptic accelerator pedal market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global automotive haptic accelerator pedal market into the following key regions: China, Europe, North America, and ROW.
Geographical segmentation of the global automotive haptic accelerator pedal market for 2015 (market share %)
|
Europe |
48.5% |
|
North America |
47.5% |
|
China |
2.0% |
|
ROW |
2.0% |
Source: Technavio
Europe: Largest revenue generating region for automotive haptic accelerator pedal
The global automotive haptic accelerator pedal market in Europe was valued at over 248 thousand units in 2015 and is expected to grow at a CAGR of almost 24% by 2020. The increase in the sale of luxury cars in Europe will be the primary factor contributing to the growth of the market in this region. Major luxury car brands like BMW, Audi, and Mercedes-Benz are adopting automotive haptic accelerator pedals to improve the performance of the vehicles in the market. The government authorities in the European region are undertaking initiatives to increase vehicular safety and curb road accidents. The European Union is enforcing stringent laws to govern vehicle safety which in turn, is leading to higher adoption of ADAS in the region.
“The OEMs are focusing to introduce and employ advanced safety systems in vehicles to meet the government regulations for vehicle and road safety during the forecast period. The increased adoption of advanced sensing technologies will propel the growth of haptic technology in the market. Safety rating systems like Euro NCAP is mandating the installation of ADAS and increasing development prospects in the market,” says Siddharth J, a lead analyst at Technavio, specializing in research on automotive electronics.
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Automotive haptic accelerator pedal market in North America
The global automotive haptic accelerator pedal market in North America was valued at almost 244 thousand units in 2015 and is expected to grow at a CAGR of around 24% by 2020. The increasing number of research and development projects in advanced sensing technologies and introduction of advanced technologies to enable automated driving will lead to the growth in the North American market. Strict emission norms and increasing road safety, passenger safety, and vehicle security concerns will encourage vendors to develop automotive sensors that will boost the automotive haptic accelerator pedal market. Regulations such as CAFE and NCAP is propelling vendors to invest in the development of active safety systems and haptic technology for pedals in the North American market.
Automotive haptic accelerator pedal market in China
The global automotive haptic accelerator pedal market in China was valued at over 10 thousand units in 2015 and is expected to grow at a CAGR of more than 23% by 2020. The increased sale of luxury cars like Audi, Mercedes Benz, and BMW and growing safety regulation in vehicles will augment the growth of the market during the forecast period. Several vendors are focusing on designing and introducing advanced safety features such as lane keeping and collision avoidance to meet the consumer and government requirements. The government is also pushing policy initiatives to promote research and development in technology-enabled enhancements in the automotive industry.
Automotive haptic accelerator pedal market in ROW
The global automotive haptic accelerator pedal market in ROW is led by APAC excluding China, Middle East and Africa. Japan and South Korea are emerging markets with lucrative opportunities for driving interface systems and automated cars. The OEMs in this region are focusing on fulfilling consumers’ needs of style, safety, and comfort and are developing driving interfaces for safer and fuel efficient drive. Middle East is slowing becoming a large market for luxury cars with advanced haptic accelerator pedals due the availability of new technology systems. African, market is still evolving, but luxury brands like Porsche, Mercedes-Benz, Audi, and BMW are increasing their presence in countries like South Africa, Nigeria, and Ethiopia due to increased demand for these vehicles in these areas.
The top leading vendors operating in the global automotive haptic accelerator pedal market are:
- Bosch
- Continental
- CTS
Other prominent vendors in the market include Hella, Jaguar, Mercedes Benz, and Nissan.
