Automotive Control Panels Market to Witness Growth at 8.1% CAGR through 2021, Says MarketsandMarkets in Its Reports Available at MarketPublishers.com20 Jul 2016 • by Natalie Aster
LONDON – From 2016 to 2021, the world’s market for automotive control panels is likely to post an 8.1% CAGR, spurred primarily by the escalating demand for increased cabin control, interior styling and also convenience. By 2021, the value of this market could reach USD 110.18 billion. The major market growth drivers include rising demand for interior comfort, rapid urbanisation and increasing luxury car sales.
At present, driver monitoring cameras form the biggest segment within the global automotive control panel market. Growth in this segment is propelled majorly by the enhancing safety concerns, especially across developing countries.
The APAC automotive control panel market is predicted to be the fastest-growing regional market during 2016-2021. Growth in this regional market is supported by strong local demand for vehicles. The production of passenger cars is anticipated to grow remarkable in India and China due to favourable governmental policies and the availability of cheap labor.
The research publication “Automotive Control Panel Market” prepared by MarketsandMarkets contains reliable data on the current situation in the worldwide automotive control panel market, provides historical insights and outlines future growth prospects through 2021. It explores the regulative and competitive environments, uncovers info on the key factors shaping the automotive control panel market and also offers profiles of the top market players.
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