Global Automotive Smart Seating Systems Market To Exhibit 9.0% CAGR With Emergence Of Holistic Human Machine Interface Seats
The 77-page research study, titled “Global Automotive Smart Seating Systems Market 2016-2020,” offers a thorough overview, presenting insights into the growth prospects and limitations in the market. In order to calculate the market size, the research study has taken into consideration the total unit shipment of smart seats in vehicles across the globe. Furthermore, a detailed vendor analysis has been included in the study to provide a clear picture of the global automotive smart seating systems market.
According to the study, the global market for automotive smart seating systems is expected to register a healthy 9.0% CAGR between 2016 and 2020. The growing demand for the integration of additional and enhanced functionality in seating systems is the primary factor augmenting the overall market. In addition, the development of holistic human machine interface (HMI) seats is estimated to generate lucrative opportunities for manufacturers in the global market. However, the low level of customer satisfaction is projected to restrict the growth of the market in the next few years.
On the basis of end use, original equipment manufacturers (OEMs) and aftermarket are the key segments of the global automotive smart seating systems market. In 2015, the original equipment manufacturer segment led the global market and is expected to remain in the top-most position throughout the forecast period. The introduction of wellness features in smart seats is expected to increase the implementation of smart seats through OEMs. The market share and projected growth rate of both the segmented have been discussed in the research report.
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The global automotive smart seating systems market has been classified on the basis of geography into EMEA, APAC, and the Americas. Among these regions, the Americas are expected to lead the global market throughout the forecast period, thanks to the increasing adoption rate of luxury cars. The high income of consumers in this region is the primary factor boosting the demand for luxury cars. On the other hand, EMEA and APAC are projected to witness significant growth in the next few years.
Currently, the global market for automotive smart seating systems comprises limited manufacturers on an international level. Nevertheless, regions such as the U.S. and Europe have several local players through the aftermarket channel, thus intensifying the competitive scenario. As per the research study, the global market is expected to grow at a fast pace with increasing investments towards research and development activities. In addition, the rising focus of key players on developing innovative designs with enhanced features is expected to accelerate the growth of the market in the forecast period. Magna International, Johnson Controls, DURA Automotive Systems, Continental, Lear, and Faurecia are some of the leading players operating in the automotive smart seating systems market across the globe.
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