NEW YORK, Sept. 7, 2022 /PRNewswire/ — The “Automotive Seat Massage System Market Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the automotive seat massage system market between 2021 and 2026 is USD 143.98 million, as per the latest market analysis report by Technavio. The report predicts the market to witness a decelerating growth momentum at a CAGR of 5.2%. The analysts at Technavio have categorized the global automotive seat massage system market as a part of the global automotive components and accessories market. Our report provides extensive information on the value chain analysis for the automotive seat massage system market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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- Market Driver: The increasing electrification of vehicles is one of the factors fueling the automotive seat massage system market growth. The electrification of vehicles has increased the usage of automotive sensors. The up-gradation in automotive electronics and developments in automotive motors have been done with the addition of modern technologies in vehicles. Technological advancement and their increasing adoption by end-users will boost the installation of electronic content in cars and commercial vehicles. Government regulations are forcing the deployment of an active safety system in entry-level cars and hybrid and electric vehicles. In addition to that, the usage of technologies for comfort is becoming more common. This, in turn, will fuel the market growth during the forecast period.
- Market Challenge: Increasing cost pressure faced by OEMs is one of the factors impeding the automotive seat massage system market growth. OEMs are facing immense cost pressure due to dynamic regulations that were imposed on several components within a vehicle. The factors responsible for high-cost pressures faced by OEMs included stringent emission norms, massive investments in R&D, market competition, and evolving customer demands. As they need to limit the production cost to fulfill the demand side necessities and provide high-quality products simultaneously, they remain liable for any such product failures or recalls, which can impact the bottom line. This, in turn, will impede the automotive seat massage system market growth during the forecast period.
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