It is an electromagnetic switch which is used to manage a high current or high voltage circuit with the help of low current or low voltage circuit. The automotive relay has a coil wrapped around an iron core, and this iron core generates magnetic field once it gets energized. The magnetic field generated attracts the control arm, hence making or breaking of the current circuit takes place. In vehicles, relays are controlled by another switch such as headlights, power windows, horn, and others. Relays are located in the engine area, fuse box, dashboard, and door panels.
Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.
Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.
Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.
Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.