- The key vendors in the Global Automotive Connectors Market 2015- 2019 are Delphi Automotive LLP, Sumitomo Electric Wiring Systems, TE Connectivity Ltd. and Yazaki Corp.
London, 25 February 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Automotive Connectors Market 2015- 2019. The market is witnessing a growing adoption of automotive electronics, because of an increase in demand for comfort, convenience, advanced driver assistance, and infotainment systems among consumers. Essential for proper functioning of electronic devices installed in vehicles, auto connectors are placed under the hood of automobiles and it is a must that these devices withstand both high and subzero temperatures and shocks. The overall market is expected to grow at a CAGR of 7.99 percent during the forecast period of 2014-2019.
With the increasing usage of electronics in vehicles, OEMs are designing compact and lightweight wiring systems that occupy less space and connect every component. Also, the growing demand for advanced safety solutions such as ACC, airbags, ESP, IPAS, TPMS, LDWS, and steering systems is elevating the requirement for connection systems because of increasing safety concerns among consumers. In addition, the rising demand for automobiles and premium audio systems is also boosting the growth of the market.
“The market is expected to grow at a steady pace during the forecast period because of increased demand and usage of automotive electronics. Electronic components used in vehicles necessitate the usage of automotive connectors for proper functioning,” says Faisal Ghaus, Vice President of TechNavio Research.
“Usage of automotive electronics has recently increased because of a growing demand for premium audio systems, advanced driver assistance systems, stringent carbon emission standards, fuel economy standards, and growing safety concerns among consumers.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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