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Key report insights suggest:
- Global automotive relay market was valued USD 8,372.0 million in 2013 and is likely to reach USD 12,584.5
million by 2020 growing with an estimated CAGR of 6.2% from 2014 to 2020.
- Global demand in convenience was USD 885.4 million in 2013 which is expected to reach USD 1,255.8
million by 2020, growing at a CAGR of 5.3% from 2014 to 2020. Driver information is projected to be fastest
growing application segment and accounted for 5% of the industry share in 2014 growing at an estimated
CAGR of 6.7 % from 2014 to 2020. Increasing communication coupled with smartphone proliferation is
expected to be the key driving force for the growth.
- Asia Pacific dominated the regional demand with an estimated market share of 50% in 2013. This region is
also expected to be the fastest growing region, growing at a CAGR of 7% from 2014 to 2020. Availability of
raw materials and low labor costs are driving factors for the region. Europe is the second largest regional
segment and is expected to reach USD 2,733.3 by 2020.
- China is the largest contributor for automated relay market growing at a CAGR of 6.5 over the forecast
period. India is expected to be the fastest growing region owing to increasing disposable.
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