The navigation switches market is anticipated to grow from US$ 560 million in 2022 to US$ 1250 million by 2032, with a forecasted CAGR of 8.4%. Several factors are expected to contribute to the growth of the global market for navigation switches.
One of the major drivers of market expansion for the navigation switch is the increase in demand for automobile safety systems. As cars become safer and more secure, manufacturers are progressively using cutting-edge technologies to enhance safety.
Due to an increasing vendor preference for safety, it is projected that the market for navigation switches will see revenue increase in the next years.
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The market for devices that are used to navigate and operate electronic gadgets, such as mobile phones, gaming consoles, and other consumer electronics, is referred to as the “navigation switches market.” Directional switches and control switches are other names for navigation switches.
The market for navigation switches is being propelled by the rising demand for simple and clear control and navigation interfaces. Navigation switches are common in a variety of consumer electronics because they offer an easy and effective way to navigate and operate electronic gadgets.
The development of new materials and designs that enhance the functionality and efficiency of navigation switches is a result of technological improvements, which also support the market for navigation switches. Additionally, the market for navigation switches is predicted to rise due to the increasing deployment of Internet of Things (IoT) devices, which need easy-to-use control and navigation interfaces.
Who are the Key Players in the Navigation Switches Market?
Due to the presence of a limited number of established players, the navigation switch market is moderately concentrated. Several vendors compete fiercely based on availability, price, quality, and size in the market.
Leading Key Players:
- Adafruit Industries
- GPS
- Marine Navigation System
- Inertial Navigation System
- Surgical Navigation System
- Robotic Navigation
- APEM, C&K Components
- E-Switch
- Grayhill
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How is the Start-up Ecosystem in the Navigation Switches Market?
As navigation switches operate in multiple product lines and cater to multiple industries, some niche players serve a limited segment of consumers and the defense industry.
- Honeywell launches new products to increase productivity and efficiency across the supply chains.
- Northrop Grumman is ready to acquire the company i.e., Rival Orbital.
- Arista Networks announced the acquisition of Big Switch Networks on 13th February 2020, an SDN (Software Defined Networking) pioneer. Arista’s software platform CloudVision and DANZ (Data Analyzer) capabilities will be strengthened by the acquisition of Big Switch.
Navigation Switches Market Segmentation:
By Type:
- 5-Way
- 4-Way
By Application:
- Gaming Consoles
- Aircraft
- Automobiles
By Sales Channel:
- Direct
- Indirect
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
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