According to the latest market research study by Technavio, the global automotive terrain response system market is expected to grow at a CAGR of close to 11% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global automotive terrain response system market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the OEMs
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The top three revenue contributing OEM segments are discussed below:
Global automotive terrain response system market by Ford Motor Company: Ford Motor Company is one of the largest automobile manufacturers in the Americas, with the US being its largest market. The global market for automotive terrain response system in vehicles offered by Ford Motor is expected to post an impressive growth rate during the forecast period.
“It is expected that the global premium SUV market will grow at a fast pace during the forecast period, which is considered to be the major growth driver of the automotive terrain response system market. The market growth can be attributed to the increasing demand for premium and luxury SUVs in developed economies, such as Europe and America,” says Praveen Kumar, a lead analyst at Technavio for research on automotive electronics.
Global automotive terrain response system market by Jeep: Jeep offers the terrain response system in Wrangler and Cherokee models. These vehicles have witnessed significant growth in sales during the last couple of years. The Grand Cherokee has witnessed incremental growth in sales, which have been one of the primary factors driving the market for automotive terrain response system. The company’s long heritage and experience in the development of capable off-roaders have increased its sales.
Global automotive terrain response system market by Jaguar Land Rover: The penetration rate of terrain response system in the Land Rover vehicles is the highest as compared to other automakers. Therefore, Technavio expects the increasing volume sales of Jaguar Land Rover vehicles to drive the market growth. The company is working on increasing its revenue by expanding its presence, which is expected to drive the global automotive terrain response system market further.
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The top vendors operating in the global automotive terrain response system market are:
- Ford Motor Company
- Jeep
- Jaguar Land Rover
- Toyota Motor
The other prominent vendors in the market include Bentley Motors and Volkswagen.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Automotive Terrain Response System Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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