The passenger vehicle smart actuators industry is experiencing rapid growth, with a robust 4% compound annual growth rate (CAGR) projected up to 2030, and current global revenue nearing $8 billion.
However, the numbers only tell one part of the story: it’s the transformative potential of smart actuators that make them truly shine, offering enhanced functionalities like reliability, precision control, and ease of automation for original equipment manufacturers (OEMs). Numerous automakers are now integrating smart actuators into their vehicle manufacturing processes due to their ability to bundle onboard controls, communication, and feedback to the electronic control unit (ECU) and other sensors. From optimizing chassis systems to improving steering and braking, and even enabling quality-of-life improvements such as aerodynamic door systems and adaptive cruise control – the significance of smart actuators cannot be overstated.
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What strategic imperatives are driving the smart actuators transformation in automotive mobility?
Competitive Intensity
The competitive landscape is driving OEMs to adopt smart actuators for higher levels of control and precision, essential for achieving competitive success, including leveraging cutting-edge software-driven features while effectively managing costs.
Disruptive Technologies
Smart actuators are being integrated with software-defined vehicle (SDV) functionalities and localized control systems. This approach bypasses the need for decisions from central computing systems, enabling OEMs to transition towards zonal computers and enhance efficiency.
Transformative Megatrends
In the realm of electric vehicles (EVs), there’s a shift from purely mechanical components to electromechanical ones that are software controlled. This transition is better supported by smart actuators, facilitating improved performance.
How are you enhancing your organization’s growth strategies with industry best practices in the passenger vehicle smart actuators domain?
Today, the growth opportunities for smart actuators in automotive applications are more promising than ever. Discover the technological disruptions, innovative business models, and competitive landscape emerging in this field by accessing Frost & Sullivan’s latest analysis. Download now for comprehensive perspectives!
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