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Automotive Switch Market to Reach USD 11.5 Billion by 2034, Fueled by Shift Toward Vehicle Electrification – Exclusive Report by Transparency Market Research, Inc.

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The rise in vehicle electrification and increased vehicle ownership are key drivers fueling automotive switch market growth.

WILMINGTON, Del., July 25, 2024 /PRNewswire/ — The global automotive switch market stood at US$ 8.1 billion in 2023, and the global market is projected to reach US$ 11.5 billion in 2034. The automotive switch market is anticipated to expand at a CAGR of 3.2% between 2024 and 2034.

The global automotive switch market is experiencing substantial growth, driven by several key factors. Automotive switches are essential components in vehicles, responsible for controlling various electronic functions such as lighting, HVAC, infotainment, and engine management. The increasing adoption of electronic systems in vehicles and the rise in vehicle ownership are primary drivers of this market’s expansion.

One significant factor propelling market growth is the trend toward vehicle electrification. With the automotive industry rapidly shifting towards electric and hybrid vehicles, the demand for advanced electronic systems has surged. These vehicles require a higher number of sophisticated switches for various functions, from battery management to advanced driver-assistance systems (ADAS).

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The increasing consumer preference for enhanced comfort, safety, and convenience in vehicles is boosting the demand for advanced switch systems. Features such as touch-sensitive controls, multifunctional steering wheels, and advanced infotainment systems rely heavily on innovative switch technologies. This consumer trend is prompting automakers to integrate more advanced switches into their vehicle designs.

Technological advancements are also playing a crucial role in market growth. Innovations in switch technology, such as the development of capacitive touch switches, haptic feedback systems, and voice-activated controls, are enhancing the user experience and driving market demand. These advancements not only improve functionality but also contribute to the aesthetic and ergonomic design of vehicle interiors.

The market faces challenges such as the high cost of advanced switches and the need for rigorous testing to ensure durability and reliability. Despite these challenges, the market outlook remains positive, supported by continuous advancements in automotive technology and increasing consumer demand for advanced vehicle features.

Automotive Switch Market Report Scope:

Report Coverage

Details 

Forecast Period  

2024-2034

Base Year  

2020-2022

Size in 2023

US$ 8.1 Bn

Forecast (Value) in 2034

US$ 11.5 Bn

Growth Rate (CAGR) 

3.2 %

No. of Pages 

150 Pages 

Segments covered 

By Switch Type, By Application, By Technology, By Material Type, By Vehicle Type, By Sales Channel, By Region

Key Takeaways of Market Report

Global automotive switch market to generate absolute dollar opportunity worth US$ 11.5 billion until 2034.Global automotive switch market is valued at US$ 8.1 billion in 2023.Asia Pacific is forecasted to hold the largest share in 2023.

Automotive Switch Market: Growth Drivers

Modern vehicles are increasingly integrated with high-end electronic systems that enhance driver and passenger comfort, convenience, and safety. The global adoption of electronic systems in automobile production is rising significantly, positively impacting the automotive switch market size.Emerging economies worldwide are experiencing a spike in disposable income and urbanization, leading to increased vehicle ownership. This surge in vehicle ownership, coupled with the demand for advanced electronic features, is driving the growth of the automotive switch market.Manufacturers are focusing on developing durable, reliable, and cost-effective switches to meet the evolving needs of modern vehicles, ensuring market expansion in both developed and developing regions.

Automotive Switch Market: Regional Landscape

In 2023, Asia Pacific dominated the global automotive switch market, driven by several key factors. Advancements in autonomous vehicle technology and the presence of leading automobile manufacturers, particularly in India and China, have significantly contributed to the region’s market share. Additionally, the increased adoption of the latest car switching mechanisms is fueling demand for automotive switches in Asia Pacific.The region is experiencing a surge in sales of both passenger cars and commercial vehicles. Growth in automobile production in manufacturing hubs like India, China, and Japan further amplifies the market dynamics of the region. These factors collectively underscore Asia Pacific’s pivotal role in shaping the global automotive switch market landscape, highlighting its significance in the automotive industry’s evolution and growth.

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Automotive Switch Market: Key Players

In 2023, Honeywell International Inc. made a significant development in the automotive switch market by introducing a new generation of smart switches designed to enhance vehicle connectivity and functionality. These advanced switches incorporate innovative sensor technology and connectivity features, enabling seamless integration with vehicle systems and enhancing the overall driving experience.In 2023, Omron Corporation advanced the market with the development of a highly durable and reliable automotive switch solution specifically designed for electric and hybrid vehicles. This new switch incorporates Omron’s cutting-edge technology to withstand the unique demands of electric vehicle applications, ensuring optimal performance and longevity in these vehicles’ sophisticated electronic systems.

Automotive Switch Market: Segmentation

Switch Type

Toggle SwitchesRocker SwitchesPush Button SwitchesRotary SwitchesTouchpad SwitchesDimmer SwitchesKnob SwitchesLever SwitchesOthers

Application

HVAC ControlsInfotainment SystemsPower Windows and MirrorsLighting ControlsSteering ControlsEngine Management SystemsOthers

Technology

Mechanical SwitchesElectrical Switches

Material Type

PlasticMetalOthers (Ceramic, etc.)

Vehicle Type

Passenger CarsHatchbacksSedansSUVsLight Commercial VehiclesHeavy Duty TrucksBuses and CoachesOff-road Vehicles

Sales Channel

OEMAftermarket

Region

North AmericaEuropeAsia PacificMiddle East & AfricaLatin America

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More Trending Reports by Transparency Market Research –

Broadcast Switchers Market is projected to advance at a CAGR of 6.1% from 2022 to 2031.Micro Switch Market is projected to expand at a CAGR of 5.4% during the forecast period from 2023 to 2031.Level 4 Autonomous Vehicles Market is estimated to advance at a CAGR of 39.5% from 2024 to 2034 and reach US$ 17.1 Bn by the end of 2034.Natural Gas Vehicles Market is estimated to grow at a CAGR of 5.3% from 2024 to 2034 and reach US$ 86.9 Bn by the end of 2034.

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:
Transparency Market Research Inc.
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Siemon Validates Interoperability of AI-Ready Fiber Cabling with NVIDIA™ InfiniBand™ Hardware at IBTA Plugfest

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Siemon is pleased to announce that its AI Ready fiber optic cabling solutions passed all system interoperability tests with NVIDIA InfiniBand hardware.

WATERTOWN, Conn., Sept. 28, 2024 /PRNewswire-PRWeb/ — The Siemon Company, a global leader in network infrastructure solutions, successfully participated in the 41st InfiniBand Trade Association (IBTA) Plugfest for InfiniBand and RoCE, held at The University of New Hampshire – Interoperability Lab from April 15th to May 3rd. This year’s Plugfest marked a significant milestone with the IBTA introducing new system interoperability testing that included optical transceivers and fiber cabling from various manufacturers for the first time. This rigorous testing program establishes compliance to industry specifications and real-world interoperability, ensuring a robust ecosystem of InfiniBand and RoCE products.

“These test results provide assurance to our customers that Siemon’s AI Ready fiber cabling performs flawlessly within NVIDIA AI network designs, supporting both switch-to-switch and switch-to-server applications”

Siemon is pleased to announce that its AI Ready fiber optic cabling solutions passed all system interoperability tests with NVIDIA InfiniBand hardware.

“These test results provide assurance to our customers that Siemon’s AI Ready fiber cabling performs flawlessly within NVIDIA AI network designs, supporting both switch-to-switch and switch-to-server applications,” stated Gary Bernstein, Siemon’s Sr. Director of Global Data Center Sales.

The System testing was done with NDR 400G and NDR 200G traffic using NVIDIA switches, ConnectX-7 adapter cards, multimode and singlemode transceivers, and Siemon’s multimode and singlemode MTP fiber cabling solutions, including trunks, jumpers, and patch panels.

The IBTA will publish their InfiniBand Integrator’s list soon, listing specific hardware and Siemon components used in various configurations.

For inquiries regarding this testing or Siemon’s AI-Ready solutions, please contact your local Siemon representative.

For more information on Siemon Generative AI Solutions, please visit www.siemon.com/ai.

Media Contact

Brian Baum, Siemon, 1 8609454200, brian_baum@siemon.com 

View original content:https://www.prweb.com/releases/siemon-validates-interoperability-of-ai-ready-fiber-cabling-with-nvidia-infiniband-hardware-at-ibta-plugfest-302260679.html

SOURCE Siemon

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Liftoff! NASA’s SpaceX Crew-9 Launches to International Space Station

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WASHINGTON, Sept. 28, 2024 /PRNewswire/ — The two crew members of NASA’s SpaceX Crew-9 mission launched at 1:17 p.m. EDT Saturday, for a science expedition aboard the International Space Station. This is the first human spaceflight mission launched from Space Launch Complex-40 at Cape Canaveral Space Force Station in Florida, and the agency’s ninth commercial crew rotation mission to the space station.

A SpaceX Falcon 9 rocket propelled the Dragon spacecraft into orbit carrying NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov. The spacecraft will dock autonomously to the forward-facing port of the station’s Harmony module at approximately 5:30 p.m. Sunday, Sept. 29, where Hague and Gorbunov will join Expedition 72 for a five-month stay aboard the orbiting laboratory.

“This mission required a lot of operational and planning flexibility. I congratulate the entire team on a successful launch today, and godspeed to Nick and Aleksandr as they make their way to the space station,” said NASA Administrator Bill Nelson. “Our NASA wizards and our commercial and international partners have shown once again the success that comes from working together and adapting to changing circumstances without sacrificing the safe and professional operations of the International Space Station.”

During Dragon’s flight, SpaceX will monitor a series of automatic spacecraft maneuvers from its mission control center in Hawthorne, California. NASA will monitor space station operations throughout the flight from the Mission Control Center at the agency’s Johnson Space Center in Houston.

NASA will provide live coverage of rendezvous, docking, and hatch opening, beginning at 3:30 p.m., Sept. 29, on NASA+ and the agency’s website. NASA also will broadcast the crew welcome ceremony once Hague and Gorbunov are aboard the orbital outpost. Learn how to stream NASA content through a variety of platforms, including social media.

The duo will join the space station’s Expedition 72 crew of NASA astronauts Michael Barratt, Matthew Dominick, Jeanette Epps, Don Pettit, Butch Wilmore, and Suni Williams, as well as Roscosmos cosmonauts Alexander Grebenkin, Alexey Ovchinin, and Ivan Vagner. The number of crew aboard the space station will increase to 11 for a short time until Crew-8 members Barratt, Dominick, Epps, and Grebenkin depart the space station in early October.

The crewmates will conduct more than 200 scientific investigations, including blood clotting studies, moisture effects on plants grown in space, and vision changes in astronauts during their mission. Following their stay aboard the space station, Hague and Gorbunov will be joined by Williams and Wilmore to return to Earth in February 2025.

With this mission, NASA continues to maximize the use of the orbiting laboratory, where people have lived and worked continuously for more than 23 years, testing technologies, performing science, and developing the skills needed to operate future commercial destinations in low Earth orbit and explore farther from Earth. Research conducted at the space station benefits people on Earth and paves the way for future long-duration missions to the Moon under NASA’s Artemis campaign, and beyond.

More about Crew-9

Hague is the commander of Crew-9 and is making his second trip to the orbital outpost since his selection as an astronaut in 2013. He will serve as a mission specialist during Expedition 72/73 aboard the space station. Follow @AstroHague on X and Instagram.

Roscosmos cosmonaut Aleksandr Gorbunov is flying on his first mission. He will serve as a flight engineer during Expeditions 72/73.

Learn more about NASA’s SpaceX Crew-9 mission and the agency’s Commercial Crew Program at:

https://www.nasa.gov/commercialcrew

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SOURCE NASA

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Global Times: 75 years on, China committed to global common development

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BEIJING, Sept. 28, 2024 /PRNewswire/ — October 1 this year marks the 75th anniversary of the founding of the People’s Republic of China. Over the past 75 years, under the leadership of the Communist Party of China (CPC), the country has undergone tremendous changes, realizing unprecedented development. China has achieved in a few decades what took developed countries several centuries, with its economy now ranking as the second largest in the world. With strenuous efforts, China has realized its first centenary goal – building a moderately prosperous society in all respects.

China’s influence on the world has never been as profound and long-lasting as it is today. Likewise, the world’s attention to China has never been as deep, and focused as it is now.

As globalization deepens, nations are becoming more interdependent, while various global challenges continue to emerge. Humanity faces natural challenges such as climate change and the loss of biodiversity, as well as common global threats like extreme poverty, nuclear proliferation, political extremism, hegemony, and escalating geopolitical conflicts. The need for cooperation has never been more urgent or important than it is today, experts said.

“Where is humanity headed?” has become a significant question concerning the future and destiny for all.

To answer this question, Chinese President Xi Jinping put forward the vision of building a community with a shared future for humanity in 2013. This is seen as China’s solution to addressing global challenges and creating a better future through concerted efforts of the international community. “The common interest of all humankind is in a world united and peaceful rather than divided and volatile,” Xi said, Xinhua News Agency reported.

Building a community with a shared future for humanity is not about replacing one system with another or one civilization with another. Instead, it is about countries with different social systems, ideologies, historical contexts, and levels of development achieving mutual benefits, sharing rights, and jointly bearing responsibilities in international affairs, experts said.

“Unlike the confrontational or competitive approaches that often dominate international relations, this concept advocates for inclusivity and multilateralism,” Hamad Al Hosani, senior researcher at TRENDS Research and Advisory, a think tank of the United Arab Emirates, told the Global Times. “It also reflects a shift from traditional approach to one that embraces a holistic and interconnected global outlook.”

Hosani added that this concept helps address global challenges by focusing on shared responsibilities, such as equitable resource distribution, environmental stewardship, and collective security measures. It encourages countries to promote a sense of global solidarity and cooperation in managing transnational threats.

China’s vision, embodied in initiatives like the Belt and Road Initiative, focuses on infrastructure investment, trade connectivity, and mutual development without imposing political conditions, Hosani told the Global Times, adding that “this reflects a more pragmatic and cooperative approach that respects the individual paths of nations.”

Therefore, the Chinese path offers developing countries an alternative model of engagement, one that values equal partnership and mutual benefit rather than hierarchical or conditional relationships. “This has attracted many countries, particularly in the Global South, to China’s approach, which they see as less intrusive and more respectful of their developmental needs and choices,” Hosani said.

Li Haidong, a professor at the China Foreign Affairs University, told the Global Times that China has provided substantial aid to the Global South over the past decade and established various organizations such as the Asian Infrastructure Investment Bank (AIIB), which reflect China’s principles of equality, inclusiveness, cooperation, and sustainability.

For a better world

Over the 11 years since the concept of building a community with a shared future for humanity was proposed, China has been both an advocate and a practitioner. Through joint efforts, the Belt and Road Initiative (BRI) has transformed from a Chinese proposal to an international practice, from an idea to concrete actions. It has not only brought tangible benefits to the participating countries but also contributed positively to promoting healthy globalization, addressing global development challenges, and improving global governance.

Projects such as the China-Pakistan Economic Corridor, China-Europe Railway Express, China-Laos Railway, Jakarta-Bandung High-Speed Railway, Piraeus Port, Kopa wind power project have greatly benefited local people. By the end of June 2023, China had signed over 200 cooperation documents with more than 150 countries across five continents and over 30 international organizations under the BRI framework, creating countless iconic projects as well as smaller, people-centered projects.

Bojan Lalic, director of the Belt and Road Institute in Belgrade, told the Global Times that different from the West’s selective alliances, China has opted for a path of inclusive multilateralism, advocating for broader cooperation and promoting inclusive frameworks such as the BRI to facilitate development across numerous nations.

“As developing countries increasingly engage with China, a shift in global power dynamics may occur, enabling a multipolar world where various development models coexist,” Lalic said.

Under the vision of building a community with a shared future for humanity, President Xi proposed the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative successively from 2021 to 2023. These three initiatives focus on addressing global development challenges, eliminating global security dilemmas, and promoting exchanges and mutual learning among civilizations.

So far, more than 100 countries and international organizations have voiced support for the Global Development Initiative, with over 70 countries joining this “Group of Friends.” More than 200 development cooperation projects have yielded results, according to the People’s Daily Overseas Edition.

UN Secretary-General António Guterres praised the Global Development Initiative as a “valued contribution to addressing common challenges and accelerating the transition to a more sustainable and inclusive future.”

 

View original content:https://www.prnewswire.com/news-releases/global-times-75-years-on-china-committed-to-global-common-development-302261718.html

SOURCE Global Times

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