The top 10 automotive technologies is projected to grow at a CAGR of 17.35%, to reach a market size of USD 139.02 Billion by 2021. Market for On board internet services is expected to grow at a highest CAGR whereas vehicle security market is the biggest market in top 10 technologies. This growth is attributed to the rise in demand of luxury vehicle and luxury features in the developed as well as developing countries, government regulations for safe and secure drive coupled up with OEMs preference for advanced technologies has propelled growth of automotive technologies market. Continental AG (Germany), Denso (Japan), and Bosch (Germany) are the major players in automotive technologies market. Expansion is the major growth strategy adopted by them. . For instance in March 2016 Continental AG announced the acquisition of Hi-Res 3D Flash LIDAR business from Advanced Scientific Concepts Inc. (U.S.). Later in April 2016 Denso Corporation entered into a joint venture with eSOL Co., Ltd., (Japan), and NEC Communication Systems, Ltd. (Japan) to develop software and tools for vehicle electronic systems
On board internet services dominate the automotive market for top 10 automotive technologies. The automotive market for on board internet services is dominated by a few global players, and comprises several regional players. Continental Ag (Germany) is a leading player in the market. The company manufactures and distributes on board internet services for passenger cars, SUVs, vans, and buses. It has a strong global network of manufacturing plants and sales services which ensures visibility of its market products. The key strategy followed by the company is new product development. In September 2015, the company launched a road database, which supplies highly accurate information to the ADAS. This database receives inputs from the vehicle hardware sensors, and uses the information to generate a virtual representation of the road. The other key development strategy adopted by the company is expansion. In January 2016, Continental AG expanded its existing facility, the Continental Automotive Brake Systems (India) by adding a new assembly line for ABS and electronic speed control (ESC) for passenger cars, and later, ABS for two-wheelers.
The second fastest growing technology is of 3D printing in automotive application. 3D systems corporation is one of the major players in the 3D printing technology market. The market products of the company include 3Dprinters, on demand parts, and design software’s. The company markets its lubricant business in Asia-Pacific, the U.S., and Europe through direct sales and/or locally approved distributors. It has adopted the strategies of new product development and agreements to increase its presence in the 3D printing application in automotive market. In July 2015, 3D systems corporation announced that it has expanded its plastic jet printing materials to include Infinity Rinse-Away water-soluble support material for the company’s flagship Cube and CubePro desktop 3D.
Top 10 Automotive Technologies Market (Remote diagnostics devices, biometric vehicle access, vehicle security, 3D printing in Automotive, On board internet, HUD, Vehicle Intelligence, Night Vision system, BDS, LDWS ), and Region - Global Forecast to 2021
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