Automotive Relay Market by Product and Geography - Forecast and Analysis 2021-2025
The automotive relay market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio s pandemic-focused market research, market growth is likely to increase as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the next normal.
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Technavio estimates the global automotive central gateway module market to grow by USD 1.29 billion, progressing at a CAGR of almost 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Automotive Central Gateway Module Market 2020-2024 (Graphic: Business Wire)
The market is driven by concerns over automotive network security. However, the need for an additional cost to manage rough operating conditions might challenge growth.
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Technavio estimates the global automotive body control module market to grow by USD 0.71 billion, progressing at a CAGR of over 1% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201230005370/en/
Technavio has announced its latest market research report titled Global Automotive Body Control Module Market 2020-2024 (Graphic: Business Wire)
The market is driven by the availability of multiple scalable BCMs for different vehicle categories. However, data security concerns might challenge growth.