/PRNewswire/ The report titled "EV High Voltage Cable Market by Cable Type (AC Cables, DC Cables), Material (Aluminum, Copper, Insulation Material), Voltage.
/PRNewswire/ Technavio categorizes the global automotive wiring harness market as a part of the automotive components and accessories market, the parent.
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NEW YORK, April 7, 2021 /PRNewswire/ Over the years, the integration of advanced safety and connectivity features in vehicles, such as advanced driver assistance systems (ADAS), GPS navigation, and vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) connectivity, has picked up. This is to be a key factor in the growth of the global automotive wire harness market from $42.8 billion in 2019 to $59.3 billion by 2030, at a 4.7% CAGR between 2020 and 2030, according to P&S Intelligence.
This is because the implantation of such features requires an array of sensors and electronic modules, which increases the requirement for wires to ferry electric current, as well as data. In this regard, the rising demand for autonomous vehicles is also acting as a major automotive wire harness market driver. Since autonomous vehicles require all the above-mentioned features and many more, a proper wiring network is paramount for them.