NEW YORK, Feb. 7, 2017 /PRNewswire/ -- "Increasing penetration of telecommunication services in the automotive industry to fuel the top 10 automotive technologies market"
The top 10 automotive technologies are projected to grow at a CAGR of 17.35%, to reach a market size of USD 139.02 billion by 2021. The growth in market is attributed to the rise in demand of luxury vehicles and luxury features in car. According to MarketsandMarkets analysis, on board internet services market is projected to reach USD 74.44 billion by 2021. This growth is attributed to the increasing penetration of telecommunication services in the automotive industry.
"Reduction in costs & time of rapid prototyping"
The advent of 3D printing has resulted in a new form of prototyping known as rapid prototyping. 3D printers allow manufacturers to make and alter prototypes rapidly; either on their own or through a company that specializes in rapid prototyping. Prototyping has consequently become the most popular application of 3D printers in the automotive sector.
"Rising concerns & government regulations pertaining to vehicle safety"
Safety features have become a requisite for automotive consumers across the world. Several kinds of Advanced Driver Assistance Systems (ADAS) have been developed to assist the driver and significantly reduce the number of accidents. For instance, in case the driver is distracted or not paying attention, the system warns them of approaching danger
"Rising demand for luxury and comfort"
Developing markets in Asia-Oceania, such as China and India, have emerged as global production and export hubs for vehicles. The significant increase in the GDP of these countries has improved the overall standard of living. The rising per capita income of these countries and the overall changes in the lifestyle of automotive consumers are expected to boost the demand for luxury and comfort from automotive consumers.
"Asia-Pacific: Fastest growing market for top 10 automotive technologies"
The Asia-Pacific is expected to dominate the market for the top 10 automotive technologies, and is projected to capture the highest market share in terms of value during the forecast period with a CAGR of 19.30%. Asia-Pacific countries have gained high economic growth. The favorable government policies for the automotive industry have contributed to the growth of automotive technologies in the region.
BREAKDOWN OF PRIMARIES
The study contains insights provided by various industry experts. The break-up of the primaries is as follows:
- By Company Type – Tier-1 - 63 %, Tier-2 - 29%, and OEM - 8%
- By Designation - C level - 45%, D level – 43%, others – 12%
- By Region - NA- 58%, Europe - 30%, APAC - 12%
The report provides a picture on top 10 automotive technologies across different verticals and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players along with their company profiles, MnM view, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall automotive aftermarket for top 10 automotive technologies and the subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies.
Read the full report: http://www.reportlinker.com/p04680747-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: firstname.lastname@example.org
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/top-10-automotive-technologies-market-and-region---global-forecast-to-2021-300403728.html