CAGR of over 9% | Automotive Smart Seating Systems Market five-year cumulative revenue (2017–2021) to be US$ 1,23,382.4 Mn
New York City, NY: Sept 19, 2019 – Published via (Wired Release) – MarketResearch.biz announces publication of its recently generated research report titled, “Global Automotive Smart Seating Systems Market by End User (OEM, and Aftermarket), and Region – Global Forecast to 2026”, which offers a holistic view of the global parking management market through systematic segmentation that covers every aspect of the target market. According to the report, the first five-year cumulative revenue (2017–2021) is projected to be US$ 1,23,382.4 Mn, which is expected to increase rather significantly over the latter part of the five-year forecast period.
The global automotive smart seating systems market is estimated to value US$ 20,938.1 million in 2017, and is projected to register a CAGR of over 9% in terms of value during forecast period 2017–2026.
Automotive smart seating systems are advanced systems that offer enhanced driving experience with added comfort and safety features. Smart seating systems automatically positions and monitors behavioral dynamics of the individual in the seat. Additionally, automotive smart seating systems have ability to measure driver’s vital information such as heart rate, stress level, breath rate, and also senses sign of fatigue or exhaustion.
Global Automotive Smart Seating Systems Market: Market Dynamics
According to the report, increasing disposable income and rising automotive sales are major key factors expected to drive demand for automotive smart seating systems in developed and developing economies. In addition, technological advancements, development of new and innovative systems with features such as smartphone integration, seat ventilation, and massage system are further propelling demand for automotive smart seating systems. Smart seating systems can alert a driver if the person is feeling tired or sleepy, which is another feature that is driving its popularity, especially among individuals who commute over long distances regularly.
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However, high cost of automotive smart seating systems and stringent government policies in various countries are key factors restraining growth of the global automotive smart seating systems market.
A major and growing trend, especially in developed countries, is rising adoption of comfortable seating systems and demand for luxury cars, owing to increasing disposable income and rising spending capacity.
This trend is expected to create wider scope of potential opportunities for key players in the market in future. Manufacturers can capitalize on these opportunities by developing advanced smart seating systems that provide more functionalities and comfort, and offer more features that making driving more comfortable and safe.
Global Automotive Smart Seating Systems Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global automotive smart seating systems market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global automotive smart seating systems market is expected to expand at a moderate CAGR of 9.3% during the forecast period.
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Global Automotive Smart Seating Systems Market: Segmental Snapshot
The market report has been segmented on the basis of end user, and region. The end user segments include OEM, and aftermarket. The regions covered in the analysis are The Americas, Europe, Asia Pacific, and Rest of the World.
By end user: OEM segment is estimated to register a CAGR of over 8.8%, thereby accounting for highest revenue share among the end user segments.
By region: The market in The Americas accounted for highest revenue share in the global automotive smart seating systems market in 2016. The market in Asia Pacific is expected to record highest CAGR of over 9.3% in terms of revenue between 2017 and 2026.
Global Automotive Smart Seating Systems Market: Competitive Analysis
The research report on the global automotive smart seating systems market includes detailed competitive analysis on major companies such as Faurecia, DURA Automotive Systems, Lear Corporation, Continental AG, Johnson Controls, and Manga International, Inc.
The Global Automotive Smart Seating Systems Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017–2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global Automotive Smart Seating Systems market for 2017–2026.
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