Go green at large as a major trend has been gaining more and more importance as a design concept for the automobile industry. The industry is at a point where the complexity, the cost of technology, market dimensions and market positioning are determ ....see more
The artificial intelligence in transportation market is projected to grow at a CAGR of 17.87% during the forecast period, and the market size is expected to grow from USD 1.21 Billion in 2017 to USD 10.30 Billion by 2030. The key software & Tier- I suppliers profiled in the report include Continental AG (Germany), Bosch (Germany), Microsoft (US), and NVIDIA (US). These systems and technologies are supplied to automotive OEMs such as Volvo (Sweden), Daimler (Germany), Scania (Sweden), and others.
The car sunroof market is expected to grow USE 2.4 billion by 2027, at a CAGR of 7.4%, during the forecast period. The report profiles all the major players in the car sunroof market including Webasto (Germany), Magna International (Canada), Valmet Automotive (Finland), and Aisin Seiki (Japan). The report also covers a comprehensive study of the key vendors operating in the car sunroof market. These vendors have been evaluated by considering various factors such as product developments, R&D expenditure, business strategies, and product revenues.
The multi camera system market is estimated to be USD 700.7 Million in 2017 and is projected to reach USD 2,843.4 Million by 2025, at a CAGR of 19.13% during the forecast period. The base year for the study is 2017 and the forecast period is 2018–2025. The key players in the multi camera system market include Bosch (Germany), Continental (Japan), Delphi (UK), Magna (Canada), Samvardhana Motherson Reflectec (Germany), Valeo (France), Clarion (Japan), Texas Instruments (US), NXP Semiconductors (Netherlands), OmniVision Technologies (US), Xilinx (US), and Ambarella (US).
The hybrid system market is projected to grow at a CAGR of 10.79% during the forecast period and is projected to reach USD 40.99 billion by 2022. Owing to the benefits offered by hybrid system, such as elimination of mechanical linkages, improved fuel efficiency and, thereby, decreased tail-pipe emissions, the demand for these systems is projected to grow in near future. Also, secondary factors such as increase in demand for electric & hybrid vehicles, government subsidies for BEVs, and investments in charging infrastructure will fuel the demand for hybrid systems in the coming years. The hybrid system market is dominated by a few global players. Some of the key manufacturers operating in the market are Bosch (Germany), Continental (Germany), Denso (Japan), ZF (Germany), and Valeo (France). There are certain key innovators gaining attention in the hybrid system market including UQM Technologies (US), Schaeffler (Germany), and Johnson Controls (US).
The connected truck market is projected to grow at a CAGR of 15.14% during the forecast period, to reach USD 37.64 Billion by 2022 from an estimated USD 18.60 Billion in 2017. Industry compliance norms and government mandates supporting connected technology of trucks, coupled with increasing customer satisfaction, drive the connected truck market. Further, the regular vehicle data updates, which are generated by the telematics control unit (TCU) of a truck, are expected to reduce the overall recalling cost for OEMs. The connected truck market is dominated by a few globally established players such as Bosch (Germany), Continental (Germany), and ZF Friedrichshafen AG (Germany).
The autonomous luxury vehicle market, in terms of volume, is projected to grow at a CAGR of 35.35% from 2025 to 2030. The market is projected to be 27,906 Units in 2025 and is projected to reach 126,774 Units by 2030. The rising concerns about vehicle safety and security have accentuated the need for the development of autonomous vehicles. Factors such as an increase in disposable income, the rise in purchasing power, and changing buyer preferences have fueled the market for luxury and premium cars, which in turn is expected to drive the autonomous luxury vehicle market. The report analyzes all major OEMs and tier I suppliers in the autonomous luxury vehicle market. Daimler (Germany), BMW (Germany), Tesla (US), and Audi (Germany) are some of the leading OEMs in the autonomous luxury vehicle market. The report also discusses the tier I suppliers such as Robert Bosch (Germany), Continental (Germany), Denso (Japan), and Delphi (UK).
The rear spoiler market was valued at USD 2.33 Billion in 2016 and is projected to grow at a CAGR of 7.40% during the forecast period. The base year considered for the study is 2016 and the forecast period is 2017 to 2022. The report profiles all major players in the rear spoiler market, including Magna International (Canada), Plastic Omnium (France), SMP Automotive (Germany), Polytec Group (Austria), Thai Rung Union Car Plc (Thailand), and INOAC Corporation (Japan) among others.
The augmented reality automotive market is projected to grow at a CAGR of 17.60% from 2020 to 2025, to reach a market size of USD 6.79 Billion by 2025. The key drivers for the market are the increasing adoption rate of advanced technologies by OEMs, rising consumer demand for enhanced in-vehicle safety, faster generation of real-time and reliable data from advanced driver assistance systems, and the growth of connected vehicles. The augmented reality automotive market is dominated by a few global AR HUD system suppliers and comprises several regional players. Some of the key AR HUD suppliers operating in the market are Continental AG (Germany), Visteon Corporation (U.S.), Panasonic Corporation (Japan), and Harman International Industries Inc. (U.S.).
The autonomous emergency braking (AEB) system market is projected to be worth USD 55.31 Billion by 2025, growing at a CAGR of 22.23% from 2020 to 2025. The rising number of accidents and growing safety concerns and the increasing government mandates regarding vehicle safety and security shall be the major factor for growth of autonomous emergency braking (AEB) system market. This report covers some of the leading players in autonomous emergency braking (AEB) system market such as Continental AG (Germany), Denso Corporation (Japan), Valeo S.A. (France), Knorr-Bremse (Germany), Analog Devices (US) and others.
The global transportation industry is focusing on decreasing greenhouse gas emissions and air pollution. Several countries are developing a rapid rail transit network to follow a sustainable path, which in turn is expected to boost the market for Train Control Systems. The Train Control and Management System Market is driven by factors such as growing population and urbanization in developing countries such as India and China and availability of high-speed communication systems. The Train Control and Management System Market was estimated to be USD 2.26 Billion in 2016 and is projected to reach USD 3.58 Billion by 2022, at a CAGR of 8.02% during the forecast period. The key players in the Train Control and Management System Market are profiled in the study. These include Bombardier Inc. (Canada), Siemens AG (Germany), Toshiba Corporation (Japan), Mitsubishi Electric Corporation (Japan), Hitachi Ltd. (Japan), Knorr-Bremse AG (Germany), ALSTOM SA (France), CAF GROUP (Spain), ABB (Switzerland), Thales Group (France), ASELSAN A.Ş (Turkey), DEUTA-WERKE GmbH (Germany), Rockwell Collins (USA), MEN Mikro Elektronik GmbH (Germany), Eke Group (Finland), Strukton Rail (Netherland), CRSC (China), HUBER+SUHNER (Denmark), Wabtec Corporation (USA), Quester Tangent (Canada), Medha Servo Drives Private Limited (India), UniControls a.s. (US), Leroy Automation (France), Amaronia Rail Ltd. (Finland), and Tech Mahindra (India).
The automotive secondary wiring harness market is projected to grow at a CAGR of 11.91% from 2017, to reach USD 22.90 Billion by 2022. Rising demand for compact wiring harness and emerging new advanced technologies have fueled the growth of the automotive secondary wiring harness market globally. The report covers all the major players in the automotive secondary wiring harness market, including companies such as Sumitomo Electric Industries, Ltd. (Japan), Lear Corporation. (US), Delphi Automotive LLP. (UK), Yazaki Corporation. (Japan), and Furukawa Electric Co., Ltd. (Japan).
The automotive closure market is primarily driven by the rising consumer demand for comfort and luxury features in vehicles. Also, the market is influenced by the increasing concern towards safety/hands-free operations over manual operations. The increasing demand for premium cars across the globe is increasing the number of advanced electronics systems in vehicles. The automotive closure market size is valued at USD 16.42 Billion in 2016 and is projected to grow at a CAGR of 7.75% during the forecast period. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022. The key automotive closure manufacturers profiled in the report include Continental AG (Germany), Magna International Inc. (Canada), Robert Bosch GmbH (Germany), and Aisin Seiki. Co. Ltd (Japan). These systems and technologies are supplied to automotive OEMs such as Volkswagen AG (Germany), General Motors (U.S.), Toyota Motor Corporation (Japan), and others.
The over the air updates market for automotive is projected to grow at a CAGR of 18.2% during the forecast period, to reach USD 3.89 Billion by 2022. Increasing demand for vehicle connectivity for real-time traffic information, government regulations about safety, demand for vehicle performance data for predictive analysis, and improved operational efficiency and profitability are the key drivers for the OTA updates market for automotive. The OTA updates market for automotive is dominated by a few globally established players such as Robert Bosch GmbH (Germany), Continental AG (Germany), and Harman International (U.S).
The global automotive microcontrollers market size is estimated to be USD 989.2 Million in 2017 and is projected to grow to USD 1,886.4 Million by 2022, at a CAGR of 13.78%. The report also profiles the most promising players in the microcontrollers market. The market presents an interesting picture of a large number of big and small players that have become a force to reckon. The key players in this market are Infineon Technologies AG (Germany), Texas Instruments, Inc. (U.S.), ON Semiconductor Corp. (U.S.), STMicroelectronics N.V. (Switzerland), Maxim Integrated Products, Inc. (U.S.), NXP Semiconductors N.V. (Netherlands), Renesas Electronics Corp. (Japan), and Toshiba Corp. (Japan).
The rear-view mirror market for automotive is projected to grow at a CAGR of 5.39% from 2017 to 2022, to reach a market size of USD 12.97 Billion by 2022. Increasing awareness about vehicle and passenger safety is expected to drive the demand for the automotive rear-view mirror. The automotive rear-view mirror market is dominated by a few global players and comprises several regional players. Some of the key manufacturers operating in the market are Magna International (Canada), Samvardhana Motherson Reflectec (Germany), Ficosa International S.A. (Spain), Gentex Corporation (U.S.), and Murakami Corporation (Japan).
The in-dash navigation system market is projected to grow at a CAGR of 12.74% during the forecast period, to reach USD 17.53 Billion by 2022. Increasing demand for vehicle connectivity for real-time traffic information, government regulations pertaining to safety, demand for vehicle performance data for predictive analysis, and improved operational efficiency and profitability are the key drivers for the in-dash navigation system market. The market is dominated by a few globally established players such as Robert Bosch GmbH (Germany), Continental AG (Germany), and Harman International (U.S).
The key factors driving the biometric identification market are increasing demand for vehicle security, safety, and comfort. The future growth of biometric identification systems would be fueled by the development of autonomous cars and integrated mobility solutions, which have personalized access and payment systems. The biometric identification market for automotive is projected to grow from USD 6.94 Billion in 2017 to USD 21.72 Billion by 2022, at a CAGR of 25.61% during the forecast period. The major companies profiled in the study are Hitachi, Ltd. (Japan), FUJITSU (Japan), Safran (France), Synaptics Incorporated (U.S.), Nuance Communications, Inc. (U.S.), Methode Electronics (U.S.), HID Global Corporation/ASSA ABLOY AB (U.S.), VOXX International Corp. (U.S.), Fingerprint Cards AB (Sweden), Voicebox Technologies Corporation (U.S.), Robert Bosch GmbH (Germany), Continental AG (Germany), and Valeo (France).
The embedded systems in automobiles market, in terms of value, is projected to grow at a CAGR of 7.56% from 2017 to 2022. The market is estimated to be USD 5.15 Billion in 2017 and is projected to reach USD 7.41 Billion by 2022. The growth of the embedded systems in automobiles market is fueled by the growing trend of vehicle electrification and a rise in the number of electric vehicles across the globe. The report analyzes all major players in the embedded systems in automobiles market, including Continental AG (Germany), Mitsubishi Electric Corporation (Japan), Robert Bosch GmbH (Germany), Denso Corporation (Japan), and Panasonic Corporation (Japan).
The cockpit electronics market for automotive is projected to grow at a CAGR of 8.60% from 2017 to 2022, to reach a market size of USD 51.54 Billion by 2022. The ecosystem of the automotive cockpit electronics market consists of automotive electronics system manufacturers and service providers such as Robert Bosch GmbH (Germany), Continental AG (Germany), Harman International (U.S), Visteon Corporation (U.S), and Delphi Automotive PLC (U.K). These systems and technologies are supplied to automotive OEMs such as Volkswagen AG (Germany), General Motors (U.S.), Daimler AG (Germany), and others.
The smart fleet management market is driven by the legislations pertaining to transport safety, advancement in technology, and increased demand for large ships and vessel containers across the globe. The global smart fleet management market is projected to grow at a CAGR of 8.0% from 2017 to 2022, to reach USD 462.48 Billion by 2022. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022. The report covers all the major players in the global smart fleet management market such as Continental AG (Germany), Denso Corporation (Japan), Robert Bosch GmbH (Germany), and Otto Maritime Limited (Singapore) among others.
The automotive plastic additives market is projected to grow at a CAGR of 6.52% during the forecast period, to reach USD 8.58 Billion by 2022. Rising demand for lightweight vehicles across the ecosystem have fueled the growth of the automotive plastic additives market globally. The growing trend of EVs is also a major factor that has contributed to the growth of this market. The electrification of vehicles in emerging countries such as China and India is driving the market for automotive plastic additives. The use of plastics in electric vehicles is more as compared to passenger cars, light commercial vehicles (LCV), and heavy commercial vehicles (HCV). The electrification of vehicles is increasing due to the lightweight of plastics and to cope with the stringent emission regulations. The report covers all the major players in the Automotive Plastic Additives Market that includes companies such as BASF SE (Germany), ExxonMobil Corporation (U.S.), Covestro AG (Germany), The Dow Chemical Company (U.S.), Sabic (Saudi Arabia), and Akzo Nobel N.V. (Netherlands) among others.
The end-point authentication market for automotive, by value, is projected to grow at a CAGR of 14.5% from 2017 to 2022. The market, by value, was estimated to be USD 529.5 Million in 2017. In this study, 2016 has been considered the base year, and 2017 to 2022 the forecast period, for estimating the size of the end-point authentication market for automotive. The report analyzes and forecasts the market size, by volume (thousand units) and value (USD million), of the end-point authentication market for automotive.
The antifreeze market for original equipment is projected to grow at a CAGR of 5.18% during the forecast period, to reach USD 885.1 Million by 2021. The increase in vehicle sales and production is expected to drive the demand for the antifreeze market. In addition, growing vehicle parc and increase in miles traveled per year per country are the key factors fueling the demand for antifreeze in the aftermarket.
With the growing number of fleet vehicles, increased maintenance cost, and volatile fuel prices across the globe, there is an increased concern for fleet companies to achieve high operational efficiency with reduced cost. According to a research study conducted by Argonne National Laboratory in 2015, approximately 1 billion gallons of fuel was wasted because of excessive truck idling, which cost around USD 3 Billion yearly. The implementation of IoT would play a crucial role to counter the above-mentioned concerns. IoT allows real-time monitoring and data transmission with the help of a decent connectivity technology such as 4G or upcoming 5G over the cloud server. It offers predictive maintenance and analysis of data into useful information to achieve optimum results.
The connected car devices market size is projected to grow at a CAGR of 16.3% during the forecast period, to reach USD 57.15 Billion by 2021. Rising concerns pertaining to vehicle, driver, passenger, and pedestrian safety have fuelled the growth of this market globally. The global connected car devices market is dominated by key manufacturers such as Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive, PLC (U.K.), Robert Bosch GmbH (Germany), and Autoliv Inc. (Sweden) among others.
The automotive gesture recognition systems (GRS) market is projected to grow at a CAGR of 30.5%, from USD 829.5 Million in 2016 to USD 3144.8 Million by 2021. The rise in consumer preference for application based technologies and increasing awareness about driver safety and regulations in automobile industry have fueled the growth of the automotive gesture recognition systems market. The increase in demand for autonomous and electric vehicles is also a major factor that will contribute to the growth of the automotive GRS market.
The automotive connectors market, in terms of value, is projected to grow at a CAGR of 7.46% from 2016 to 2021. The market was estimated to be USD 4.38 Billion in 2016, and is projected to reach USD 6.28 Billion by 2021. The growth of the automotive connectors market is fueled by the increasing number of electronic components and advanced safety features in vehicles, and rise in the number of autonomous vehicles across the globe.
The car door latch market is projected to grow at a CAGR of 5.80%, from USD 4.97 Billion in 2016 to USD 6.59 Billion by 2021. Global automobile demand is increasing continuously due to reasons such as increase in population, developments in suburbs, and infrastructural expansions, which are major driving factors for the car door latch market. As increase in global automobile demand will directly impact the production of car door latches.
The passenger car smart parking market is projected to grow at a CAGR of 17.94% during the forecast period, to reach a market size of USD 5.25 Billion by 2021 from USD 2.13 Billion in 2015. The market for park assist system is driven by factors such as increased consumer preference towards comfort and luxury, and increased competition between OEMs to offer such driver assistance features. Additionally, government policies supporting smart parking systems is also a major demand driver for passenger car smart parking market.
The automotive aftermarket for top 10 components is projected to grow at a CAGR of 7.75% from 2016 to 2021, to reach a market size of USD 302.64 Billion by 2021. The major factors responsible for growth are growing vehicle parc, increase in average life of a vehicle, rising miles driven per year and emergence of new distribution channels. Tires is the largest segment globally, in terms of value. Tires are replaced once they are driven for a fixed set of kilometers or miles. Thus, the replacement or aftermarket for tires becomes an important segment for the automotive tire market. The aftermarket for tires is led by the radial tires segment.
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. Increase in demand for luxury vehicles with advance technologies is driving the market for Top 10 Automotive technologies. Also, Government Regulations towards safety feature has propelled growth of automotive technologies. The major players in top 10 automotive technologies market are Delphi Automotive PLC (U.K.), Continental AG (Germany), Robert Bosch GmbH (Germany), and some on board internet service providers are Agero (U.S.), Airbiquity (U.S.), and WirelessCar (Sweden). The major telecom companies which provide connectivity for on board internet services are AT&T (U.S.), Verizon (U.S.), and Vodafone (U.K.).
The global automotive robotics market, in terms of value, is projected to grow at a CAGR of 10.74% from 2016 to 2021. The market is estimated to be USD 5.07 Billion in 2016, and is projected to reach USD 8.44 Billion by 2021. In this study, 2015 has been considered the base year, and 2016 to 2021 the forecast period, for estimating the market size of the global automotive robotics market.
The smart transportation market for mass transit is projected to grow at a CAGR of 8.90% during the forecast period, to reach a market size of USD 44.78 Billion by 2021. A wide array of upcoming railway projects, increased urbanization, and the growing need of public transport has led to the increase in demand for smart transportation solutions and its related components, software and services.
The automotive window and exterior sealing systems market, in terms of value, is projected to grow at a CAGR of 7.07% from 2016 to 2021. The market is estimated to be USD 18.26 Billion in 2016, and is projected to reach USD 25.69 Billion by 2021. This increase is triggered by various factors which covers various aspects, like need for transportation ignited by increase in urbanization which leads to demand for vehicle that results in increase in demand of sealing systems.
The E-tailing market for automotive applications is projected to grow at a CAGR of 12.53% during the forecast period, to reach USD 49.07 Billion by 2021 from an estimated USD 27.19 Billion in 2016. The base year for the report is 2015 and the forecast year is 2021. The current vehicle population, increasing automobile sales, and increasing penetration of internet has led to the increase in online sales of automotive components. The major market players in the E-tailing market for automotive applications are Advance Auto Parts (U.S.A.), Alibaba Group Holding Limited (China), Amazon.com Inc. (U.S.A.), Delticom AG (Germany), O’Reilly Auto Parts (U.S.A.), Flipkart (India) and eBay Inc. (U.S.A.) etc. which have their presence in not only the domestic but in the international market as well.
The biometric vehicle access system market, in terms of value, is projected to grow at a CAGR of 14.06% from 2016 to 2021. The market is estimated to be USD 442.7 Million in 2016, and is projected to reach 854.8 Million by 2021. The growth of the biometric vehicle access system market is fueled by increased safety regulation, technological advancements, and rise in biometric technologies.
The monorail market, in terms of value, is projected to grow at a CAGR of 2.75% from 2016 to 2021. The market is estimated to be USD 4.68 Billion in 2016, and is projected to reach 5.36 Billion by 2021. Increase in urbanization has led to increase in demand for alternative transportation which has drive the monorail system industry. The report analyzes all major players in the Monorail Market, including Bombardier Transportation (Canada), Hitachi, Ltd. (Japan), Scomi Engineering Bhd. (Malaysia), Aerobus International, Inc. (USA), Mitsubishi Heavy Industries, Ltd. (Japan), Intamin Bahntechnik (Switzerland), Urbanaut Monorail Technology (USA).
The light duty vehicle market for North America is projected to grow at a CAGR of 5.65% during the forecast period, to reach 24540.0 thousand units by 2021, from an estimated 18647.1 thousand units in 2016. The base year for the report is 2015 and the forecast year is 2021. The increasing demand for light duty vehicles in North America, stringent emission regulations leading to light weighting/engine downsizing, and infrastructure growth has led to an increase in passenger car production in North America.
The global vehicle diagnostics market is projected to grow at a CAGR of 16.79% from 2016 to 2021, to reach a market size of USD 30.22 Billion by 2021. Stringent emission norms, the rising demand for safety and security in vehicles, and the growing inclination towards premium vehicles are expected to propel the growth of the vehicle diagnostics market. The vehicle diagnostics market, by application, is dominated by the roadside assistance segment, which is estimated to be the largest market, in terms of volume, during the forecast period.
The drivetrain market is projected to grow at a CAGR of 6.18% from 2016 to 2021, to reach a market size of USD 278.57 Billion by 2021. The major drivers of this market are the growing demand for comfort and safety in vehicles, rise in vehicle production, and increasing need for better acceleration, traction, and towing capabilities in vehicles.
The wiper motor aftermarket is projected to grow from USD 2.31 billion in 2016 to USD 2.65 billion by 2021, at a CAGR of 2.78% during the forecast period. The wiper motor aftermarket is primarily driven by two important factors, one is the usage of wiper system, and the other is the increasing number of vehicles on road. The wiper motor is a critical component that drives the wiper system.
The vehicle anti-theft system market, in terms of value, is projected to grow at a CAGR of 7.76% from 2016 to 2021. The market is estimated to be USD 6.59 Billion in 2016, and is projected to reach USD 9.57 Billion by 2021. The growth of the vehicle anti-theft system market is fueled by increasingly stringent safety regulations, technological advancements, and the growing adoption of biometric technologies.
The driver safety market is primarily driven by the growing demand for safety solutions across the globe. The passenger car driver safety market is projected to grow at a CAGR of 6.24%, to reach a market size of USD 3.20 Billion by 2025, whereas the market for off-highway driver safety is projected to grow at a CAGR of 4.91% during the forecast period, to reach USD 380.38 Billion by 2021.
The locomotive market for power conversion systems is projected to grow at a CAGR of 2.92% during the forecast period, to reach a market size of USD 4.27 Billion by 2021. A wide array of upcoming rail projects, increased urbanization, and the rising demand for public transport has led to an increase in demand for locomotives and their related power conversion systems.
The global automotive transmission engineering services outsourcing market is projected to grow at a CAGR of 5.66% during the forecast period, to reach USD 12.92 Billion by 2021, from an estimated USD 9.81 Billion in 2016. The base year for the report is 2015, and the forecast year is 2021. The increasing sales of passenger cars, stringent emission norms, and adoption of new technologies such as hybrid transmission are driving the automotive transmission engineering services outsourcing market.
The cargo shipping market is estimated to gain momentum after fiscal year 2018 after years of sluggish growth. Cargo shipping market is projected to reach 12.52 Billion Tons at CAGR of 3.5% from 2016 to 2021. Global economic growth, rise in the commodity demand will be the key drivers of the growth in the global shipping cargo trade. In this study, 2015 has been considered as the base year, and 2016 to 2021, the forecast period for estimating the market size of vehicle security. The study segments the cargo shipping trends on the basis of cargo type, industry type, and major trade routes.
The automotive control panel market is projected to grow from USD 74.65 Billion in 2016 to USD 110.18 Billion by 2021, at a CAGR of 8.10%. Market growth is primarily driven by innovations and technological advancements in the automotive industry. The rising demand for electric vehicles also boosts the demand for automotive electronic components and control panels. The control panel provides easy access to various comfort and convenience features in the vehicle.
The global vehicle intelligence systems market is primarily driven by the growing concerns regarding pedestrian safety, the demand for an enhanced driving experience, and the rising sales of premium vehicles in developing economies. The market is projected to grow from USD 11.29 Billion in 2016 to USD 20.11 Billion by 2021, at a CAGR of 12.24%.
The vehicle security system market, in terms of value, is projected to grow at a CAGR of 7.2% from 2016 to 2021. The market is estimated to be USD 7. 57 Billion in 2016, and is projected to reach 10.75 Billion by 2021. Asia-Pacific is estimated to be the largest market for vehicle security systems, followed by North America and Europe. The growth of the vehicle security system market is fueled by increasing vehicle production, growing awareness regarding vehicle safety, and increasing installation of safety features in automobiles.
The automotive alloy market is mainly driven by stringent emission norms, increasing government legislation for reduction of weight of a vehicle, and growing research and development on fuel economy, around the globe. The global automotive alloy market is projected to grow at the CAGR of 7.69% to reach the market size of USD 177.47 Billion by 2021. The base year for the study is 2015, and the forecast period is from 2016 to 2021. The report segments the automotive alloy market based on alloy type, vehicle type, area of application, and region. Alloys of steel, aluminium, magnesium, copper, nickel, titanium among others are covered in the report.