LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global automotive memory seat market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global automotive memory seat market will grow at a CAGR close to 8% during the forecast period. The growing integration of advanced seat functionalities due to intense competition among vendors is a major factor driving the market’s growth.
Automotive seats have always been a crucial part of vehicles and have become much more functional and hi-tech, but till 20th century there was not much of innovation in automotive seats. However, this seems to have changed significantly in the last decade or so. OEMs have found out that flexibility and increased functionality is the key to sustainability in the long run due to the ever-growing competition in the automotive industry.
OEMs are offering improved seat design and functionality, which offers comfortable driving experience to consumers, depending on the vehicle segment and category. The integration of memory function with electrically adjustable seats to improve drive quotient is fueling the adoption of memory seats in modern automobiles. This functionality becomes more beneficial for multiple users and while traveling long distances. The growing competitive environment in the automotive industry is driving automotive OEMs to follow a strategy of product differentiation, which is one of the major reasons behind the integration of advance seat functionalities in the vehicles.
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The two emerging market trends driving the global automotive memory seat market according to Technavio research analysts are:
- Growing development of climatronic and memory seats for optimum comfort
- Increasing integration of advanced luxury features in seats
Increasing integration of advanced luxury features in seats
Advances in automotive technology and systems are leading the global automotive industry towards the future of autonomous vehicles. Automakers have been investing proactively in the advanced comfort enhancing and convenience systems to make their product distinctive in nature. The changing buying criteria and dynamics of the automotive market have compelled automakers to increase the adaption rate of such systems in their product portfolio.
As part of the comfort and convenience package, automotive memory seat system was initially introduced only in the passenger seat. The system was well received by customers and is presently experiencing growing demand and popularity. The increasing competition in the automotive industry with growing demand for comfort systems has led to the integration of ventilated and memory seats even in the co-passenger and rear seats. By incorporating advanced comfort and convenience systems of their flagship models, automakers have raised the levels of luxury offering.
“Many leading automakers have increased the penetration rate of ventilated and memory seats by making them not limited to passenger or front seats only. The rear seat system of modern premium and luxury car segment is luxurious than ever. With integrating features such as memory functions, ventilated seats, seat massager, seat recliner, and lumbar and thigh support, automakers are giving special attention to detail in the rear seats,” says a senior analyst at Technavio for research on automotive electronics.
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Global automotive memory seat market segmentation
This market research report segments the global automotive memory seat market into the following two major vehicle types (passenger vehicle and commercial vehicle) and three major regions (the Americas, APAC, and EMEA).
In 2017, the Americas contributed the largest share to the global automotive memory seat market followed by EMEA and then APAC. But researchers have projected that nearly 45% of the incremental growth will originate from APAC during the forecast period, on the contrary, the shares of the Americas and EMEA will see a decline of around 3% for both the regions.
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