The global automotive launch control system market size is slated for considerable gains owing to the rising sale of sports cars across the world, finds Fortune Business Insights in its report, titled “Automotive Launch Control System Market, 2021-2028”. An automotive launch control system is an electronic system in the vehicle which is computer controlled performance-enhancing system. This system assists the driver to accelerate the vehicle from halt with a combination of minimal wheel spin and sufficient power. There has been an increasing need for the automotive launch control system from the automotive industry due to the increasing sale of sports cars across the world, which is anticipated to augment the growth of this market during the forecast period. However, the cost of maintenance of the automotive launch control system is relatively high, which is projected to restrict the growth of this market.
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List of Key Players Covered in the Automotive Launch Control System Market Report:
- Robert Bosch GmbH,
- Ferrari N.V.,
- Automobili Lamborghini S.p.A.,
- Ford Motor Company,
- Porsche AG,
- and Bugatti Automobiles.
Increasing Number of Motorsports Events Worldwide to Fuel the Market
There has been an increasing number of motorsports and car racing events across the world, which has led to the rising demand for automotive launch control system in such events as this type of system helps to control the acceleration according to the engine specifications so that the car can move at a greater speed. Thus, this is a vital factor responsible for the growth of this market across several regions.
Rising Number of Sports Car Manufacturing Companies to Boost the European Market Growth
The European region is projected to witness significant growth in the automotive launch control system market share on account of the increasing number of sports car manufacturing companies in the countries such as the UK, Germany, Italy, France, and others.
North America region is expected to grow at a decent pace in this market owing to the rising popularity of motorsports events in the countries such as the US and Canada.
Technological Advancements in the Automotive Industry to Boost Competition
The leading companies in the automotive launch control system market are focusing on the increasing adoption of advanced technologies such as big data, Artificial Intelligence (AI), and others in the automotive sector in order to offer enhanced safety to the driver during the occurrence of accidents. This has resulted in the increasing competition among key companies which will enable them to expand their product portfolio and widen their market presence.
Automotive Launch Control System Market Segmentation:
By Market Type
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- North America (USA, Canada, and Mexico)
- Europe (Germany, France, U.K., and Rest of Europe)
- Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)
- Rest of the World
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