Automotive Front End Module Market: IoT Integration Fuelling Sales as Miniaturization goes Mainstrea
Fact.MR envisages that the demand for automotive front end module is projected to expand at a CAGR of 5.1% during the period of forecast, 2017-2022. Steady adoption of automotive front end module is likely to translate into sales nearly cross US$ 121,000 Mn by end of the assessment period, according to the report.
[ClickPress, Thu Jun 13 2019] “Automotive Front End Module Market Forecast, Trend Analysis and Competition Tracking – Global Review 2017-2022” report provides unbiased intelligence on various market aspects including key segments of the automotive front end module market. The comprehensive research on automotive front end module market provides the reader with strategic tools that can be leveraged to gain competitive advantage in the coming years. Moreover, the automotive front end module market report includes past data analysis, current scenario and future projections for a period of five years, from 2017 till 2022.
With eminent spike in passenger vehicles as well as heavy duty vehicles on the back of proliferated industrialization and urbanization round the globe, more emphatically across low and mid income companies, vendors in automotive front end module market are likely to spot ample growth triggers in emerging economies such as China. Availability of low cost resources and access to cheap labor are likely to drive automobile industry in the region. Automotive front end module essentially comprises multi-piece component assembly of diverse automotive parts such as panels, bumpers, and electronics and wiring system that ensures optimum accuracy, functionality and accuracy.
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Growing stewardship towards environmental protection amongst modern consumers is being rapidly spearheaded by stringent government protocols and norms pertaining minimal fuel emissions. Skew towards fuel efficient vehicles has maneuvered palpable innovations in terms of lightweight vehicles production. Manufacturers in automotive front end module market are investing optimally towards novel building components such as plastic to align with light weight vehicle structure. Additionally, emergence of hybrid systems such as composites and steel is a novelty which is likely to further pump in considerable growth in front end module market.
Characterized by large number of both third party suppliers as well as OEMs, automotive front end module market witnesses strong foothold of outsourcing agents. Outsourcing aids eliminating a large number of assembly-line phases, besides depreciating operational costs with reduced tool expenditure. Outsourcing therefore remains a key growth strategy amongst leading vendors in automotive front end module market.
Emerging Economies to Remain Opportunistic Markets for Automotive Front End Modules Manufacturers
Increasing automobile production in emerging economies of China and India in the Asia Pacific (APAC) has largely influenced the growth of the automotive front end module market. Manufacturers of automotive front end modules can expect momentous growth in emerging countries of APAC in the coming years. In addition, stakeholders in the automotive front end module market have been targeting China owing to its huge economic stimulus.
IoT Integration Fuelling Sales of Automotive Front End Modules as Miniaturization goes Mainstream
Miniaturization of automotive front end modules along with integration of Internet of Things (IoT) continues to be on an upswing. Proliferation of smart technologies in automotive sector have enabled stakeholders to invest in development of automotive parts using which customers can stay connected with other users in vehicles. This triggered the development of automotive front end modules that feature Bluetooth, Wi-Fi, and LTE connectivity.
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Sales of automotive front end module are likely to remain concentrated in the emerging economies in the Asia Pacific occluding Japan (APEJ). China, in particular, is expected to cement its dominance in the Asia Pacific excluding Japan (APEJ) automotive front end module market owing to rapidly evolving automotive sector in the country, says the report. Sales of automotive front end module in APEJ are estimated to surpass US$ 55,000 Mn by end of 2022, making it an attractive market for stakeholders. Tug of war between North America and Europe is being witnessed in the automotive front end module market, with the latter having a slight upper hand.
Automotive Front End Module Market: Competition Landscape
The automotive front end module market includes assessment on various key players. Major companies profiled in the report include Plastic Ominum, HBPO GmbH, MAHLE GmbH, Faurecia SA, and DENSO Corporation, to name a few.
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