The Growing Trend of Semi-Autonomous and Autonomous Vehicles Presents Opportunities

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DUBLIN, September 16, 2022 /PRNewswire/ — The “Automotive Interior Market by Component (Automotive Displays, Door Panel, Dome Module, Headliner, Seat, Interior Lighting), Material Type, Range Level, Electric Vehicle, Passenger Car Class, Type ICE Vehicle Growth and Region – Global Forecast to 2027″ report has been added to from ResearchAndMarkets.com offer.

The global automotive interior market is expected to grow at a CAGR of 4.5% during the forecast period, from $123.2 billion in 2020 for $153.8 billion by 2025. The automotive industry is constantly evolving, with growing interest in semi-autonomous and autonomous vehicle technologies.

Several automakers showed off their new concept cars with autonomous and connected car technologies. These cars, with their advanced technologies and radical designs, are expected to hit the market soon. The interiors of these cars must offer comfort and convenience and must incorporate the latest technologies. The growing demand for advanced automotive interior solutions and systems can be attributed to advancements in semi-autonomous and autonomous technologies.

The BEV segment is expected to be the fastest growing electric vehicle over the forecast period.

The demand for BEV is expected to increase in the coming years due to an increase in the adoption of stringent emission standards by governments in various countries. Several governments now provide subsidies for the use of environmentally friendly vehicles, thus encouraging the use of electric vehicles. Strict emissions regulations in the United States, especially in states such as California and New Yorkled to an increase in sales of electric vehicles.

Electric vehicles tend to have a greater number of electronic/advanced systems. Thus, the increasing number of electric vehicles will lead to an increased demand for advanced automotive interior systems. In Europe, the market for BEVs is expected to grow due to emissions regulatory mandates and the development of electric vehicle infrastructure. OEMs are also expanding their manufacturing facilities around the world to increase production of electric vehicles. For example, in August 2017Tesla has announced plans to increase $1.5 billion to finance the development of its cheapest electric car, which proves the aggressiveness of manufacturers on the market.

The passenger car segment is estimated to be the largest automotive interior market, by vehicle

The passenger car segment is expected to hold the largest automotive interior market share during the forecast period. Rising consumer purchasing power, growing sales of semi-luxury and luxury vehicles, and strong demand for convenience equipment are expected to drive the passenger car segment. The advent of semi-autonomous and autonomous vehicles is also attributed to the overall market growth. Passenger vehicles are the most targeted segment for automotive interior manufacturers. The technologies used in this type of vehicle change frequently due to high consumer demand for luxurious and practical features. In addition, government emissions and safety regulations change frequently. Manufacturers must reduce the weight of passenger vehicles and offer comfort and safety to consumers at a lower price. Due to the growing demand for autonomous and electric vehicles, e-content is frequently increasing in passenger vehicle interiors, which in turn is driving the growth of the passenger vehicle interiors market.

Market dynamics

Drivers

  • Increase customer preference for convenience, premium features and advanced security
  • Using a variety of lightweight and advanced materials and innovative workmanship
  • Integration of smartphone connectivity
  • Improved features in lighting
  • Rise in SUV Demand to Fuel Modular Seating Demand

Constraints

  • High cost involved and raw material cost volatility
  • High power consumption in automotive interior electronics
  • Increased competition from local companies offering counterfeit/renovation solutions

Opportunities

  • Growing demand for electric vehicles
  • Rising trend of semi-autonomous and autonomous vehicles
  • Growing trend of interior customization in premium vehicles and interior styling
  • Advanced lightweight mechanism for automotive seats
  • New entertainment and smart mirror apps
  • Focus on 5G and wireless technology

Challenges

  • Long production cycle time
  • Decline in vehicle sales and production due to shortage of semiconductors and the COVID-19 pandemic
  • High cost of advanced automotive display systems
  • Presence of an unorganized secondary market

Main topics covered:

1. Introduction

2 Research methodology

3 Executive Summary

4 premium previews

5 Market Overview

6 industry trends

7 Impact of COVID-19

8 Automotive Interior Market, By Component Type

9 Automotive Interior Market, By Level of Autonomy

10 Automotive Interior Market, By Material Type

11 Automotive interior market, by passenger car category

12 Automotive Interior Market, By Electric Vehicle Type

13 Automotive Interior Market, by ICE Vehicle Type

14 Automotive Interior Market, by Region

15 Competitive landscape

16 company profiles

17 Appendix

Companies cited

  • Adient
  • Alps Alpine Co. Ltd.
  • Audi AG
  • BMW AG
  • Continental AG
  • Denso
  • Draxlmaier
  • Faurecia
  • Ford Motor Company
  • Fujitsu Limited
  • General Motors
  • Antolin Group
  • international Harman
  • Hello
  • Hyundai Mobi
  • Japan Display, Inc.
  • Jvckenwood Corporation
  • Magna International
  • Electric Mitsubishi
  • Japan Seiki
  • Nvidia
  • panasonic
  • Pioneer company
  • Renesas
  • Robert Bosch GmbH
  • Saint Gobain
  • Texas Instruments
  • TomTom International
  • Toshiba
  • Valeo
  • Visteon Corporation
  • Yazaki Corporation
  • Zf Friedrichshafen

For more information on this report, visit https://www.researchandmarkets.com/r/b37s7

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SOURCE Research and Markets

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