Steering mounted electronics
are essentially electronic circuits wherein the electronic components
are attached or mounted directly onto the surface of the steering of
an automobile. The steering, where the components are placed has a
flat tin-lead, gold plated, or silver copper pads deprived of holes.
These are known as solder pads. The solder paste (mixture of
miniature solder particles and flux) is applied to all the pads with
the help of a nickel stencil or stainless steel. It can be applied
through a jet-printing mechanism as well. After pasting is done, the
boards are positioned on a conveyor belt. Numerical control machines
pick and place the parts on the printed circuit board.
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The global automotive
steering-mounted electronics market is likely to grow at a
significant CAGR during the forecast period. A primary factor driving
the market growth is the decreasing prices of electronics which in
turn will increase the adoption of steering-mounted electronics in
the coming years. Steering-mounted electronics also help improve the
occupier/driver and pedestrian safety as the system reduces driver
distraction. Vendors are placing the buttons in a steering wheel in
suitable positions so they are accessible effortlessly by the thumb
or other free portions of the driver’s hand, without the
requirement to take out the hands from the steering wheel.
Additionally, the low-priced electronics have recently gained
extensive popularity especially in the passenger car market which is
likely to boost the growth of the global automotive steering-mounted
electronics market.
Another trend that is likely
to gain momentum in the automotive steering-mounted electronics
market is the growing prevalence of gesture recognition technology in
the steering wheels. This technology increases the convenience and
comfort levels of the drivers when controlling the system functions
inside the vehicle. This technology offers features such as
navigating amongst the vehicle infotainment options, modify overhead
lighting and ambient temperature, open and close doors and windows
commands and answer phone calls, among many others. Furthermore, the
recognition and the processing of the gestures are done by algorithms
(gesture-based) using sensor-based systems.
Increased inclusion of
electrical and computer systems such as sensors, actuators, and
displays in automobiles along with other functionalities such as
drive control and engine control in which automotive computer chips
are used, is likely to fuel the overall automotive steering-mounted
electronics market during the forecast period.
The global automotive
steering-mounted electronics market is segregated by vehicle type and
geography. By vehicle type, the market is divided into
low-mid-market, ultra-mid-market, mid-entry market, ultra-entry
level, low-luxury, ultra-luxury, mid-mid-market, mid-luxury, and
low-entry level. The global automotive steering-mounted electronics
market is segmented into five regions. They are, North America,
Europe, Asia Pacific, Middle East & Africa, and Latin America. In
terms of revenue, North America held a significant share of the
market. Some of the other factors responsible for the growth of the
automotive steering-mounted electronics market in this region are
increasing demand for automated cars as well as self-drive vehicles,
technological advancements, and high adoption rate of computer
controlled systems in automobiles among consumers. However,
Asia Pacific is likely to grow
at a significant rate owing to the increasing demand for automobiles
and rising purchasing power of the population of this region.
The global automotive
steering-mounted electronics market is very competitive in nature
with the presence of a large number of international vendors.
Technological advancements, quality, price, and customer relationship
management are some of the key factors for the growth in the global
market. Some of the tech companies operating in the automotive
steering-mounted electronics market are Autoliv, Continental, SKF,
Delphi Automotive, ZF TRW. Some of the other companies operating in
the market are Autograde International, Panasonic, Cartek Automotive
Electronics, Texas Instruments, and Pioneer
The report offers a
comprehensive evaluation of the market. It does so via in-depth
qualitative insights, historical data, and verifiable projections
about market size. The projections featured in the report have been
derived using proven research methodologies and assumptions. By doing
so, the research report serves as a repository of analysis and
information for every facet of the market, including but not limited
to: Regional markets, technology, types, and applications
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