Automotive Smart Faceplate Market: Introduction
- Automotive smart faceplate is an advanced technical device that is mounted at the bottom of the dashboard and integrates diverse display systems, ranging from single-function LCD (liquid crystal display) screen to multi-function touch screens
- A vehicle incorporated with an automotive smart faceplate offers effective and consistently discerning quality of appearance, sound, tactile qualities, and lighting
- The automotive smart faceplate includes multiple interaction technologies such as rotary knob, push button, infrared movement detection capacitive, proximity sensors, and infrared movement detection
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Key Drivers of Automotive Smart Faceplate Market
- Technological advancements in terms of vehicle comfort and accessibility systems such as infotainment, dashboard, and control panels are anticipated to propel the automotive smart faceplate market. For instance, Valeo AG has developed smart faceplate solution to help carmakers achieve the complex task of reconciling the increasing number of functions to operate man-machine interfaces. The smart faceplate is designed to be simple, intuitive, and fluid. It reduces the cognitive workload on the driver and reduces instances of distracted driving, thereby ensuring safety.
- Automakers can also use decorative techniques to modify visual appeal of smart faceplate using several methods such as paint, tampo printing, chrome plating, laser etching, multi-injection, and film application
- An increase in the per capita income of the population, globally, has boosted the ownership of new vehicles. This, in turn, creates significant opportunity for key players manufacturing automotive smart faceplate to cater to the increased number of automotive consumers.
- The automotive smart faceplate projects key information such as air condition temperature, humidity, seat adjustment, music, rear view, and other entertainment. These benefits are anticipated to provide lucrative opportunities to the automotive smart faceplate market.
Global Automotive Smart Faceplate Market: COVID 19 Impact
- Globally, the Coronavirus pandemic signficantly impacted the demand for passenger vehicles in 2022. According to IHS Markit, global auto sales forecast in 2022, globally, vehicle sales plummeted by 22% to 70.3 million units as compared to that in 2019. China, which is world’s largest automobile production country witnessed decline in vehicle sales by more than 15% to 21 million units in 2022, while the U.S. witnessed more than 26% of reduced vehicle sales to reach 12.5 million units, as compared to that in 2019.
- Moreover, China is one of the largest suppliers for the raw materials as well as finished products. Industry in China witnessed a reduction in production in 2022 owing to supply chain disruption and volatility in price of raw material. Additionally, the scarcity of raw material owing to stoppage of mining activities across the globe owing to forced shutdown of manufacturing activities is posing as challenge for automotive smart faceplate market. However, the market is expected to recover from economic losses, as the demand for vehicles is estimated to rise during the forecast period.
North America and Europe Cumulatively to Account for Prominent Share of Global Automotive Smart Faceplate Market
- In terms of region, the global automotive smart faceplate market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa
- North America and Europe have presence of economically stable countries. These regions are home to technologically advanced research institutes catering to the development of vehicle safety and comfort technologies. Additionally, major automakers and aftermarket players have established their technological centers and manufacturing facilities in various countries in these regions including the U.S., Germany, the U.K., and France.
- The automotive smart faceplate market in North America and Europe is expected to expand significantly owing to an increase in adoption of smart faceplate in passenger and commercial vehicles in order to cater to changing consumer demand for in-vehicle comfort and accessibility.
Key Players Operating in Automotive Smart Faceplate Market
The global automotive smart faceplate market is concentrated owing to the presence of prominent manufacturers. A few key players operating in the global automotive smart faceplate market are:
- Alps Alpine Co., Ltd.
- Continental AG
- Denso Corporation
- Hyundai Mobis
- Panasonic Corporation
- Pioneer Corporation
- Robert Bosch GmbH
- Valeo SA
- Visteon Corporation
- ZF Friedrichshafen AG
- Other Key players
Global Automotive Smart Faceplate Market: Research Scope
Global Automotive Smart Faceplate Market, by Vehicle Type
- Passenger Vehicle
- Sports Cars
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Global Automotive Smart Faceplate Market, by Application
Global Automotive Smart Faceplate Market, by Sales Channel
Global Automotive Smart Faceplate Market, by Region
- North America
- Nordic Countries
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.