December 13, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Automotive Electronics Market Size by Vehicle Type (Passenger Cars, Commercial Vehicles), By Application (ADAS [Adaptive Cruise Control, Blind Spot Detection, Parking Assistance, Automated Emergency Braking, Night Vision, Lane Department Warning], Body Electronics, Infotainment & Communication [Audio, Display, Navigation, Head-Up Display, Communication], Powertrain [Engine Controllers, Transmission Drivetrain, Exhaust, xEV], Safety Systems), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2030’, the global automotive electronics market is estimated to cross USD 645 billion by the year 2030.
Rising adoption of advanced safety systems in automobiles is a major factor driving the growth of automotive electronics market. Strict government policies in Europe and North America which encourage road and vehicle safety by employing connected vehicle systems is encouraging key industry players to develop advanced electronic systems in automobiles. These systems offer features such as head-up displays, parking assistance, and powertrain.
Moreover, growing preference for automated driving systems among consumers is augmenting the demand for automotive electronic systems across the globe. However, decreasing production of automotive in the United States may impede the growth of the industry.
Based on application spectrum, the automotive electronics market is categorized into ADAS (advanced driver-assistance systems), infotainment & communication, body electronics, powertrain, and safety systems. Automotive electronics market from infotainment & communication segment is projected to register significant growth over the forecast period. The segment includes systems like voice recognition, high-end radios, digital radio, and rear-seat entertainment which offer comfort and luxury to passengers, hence driving the segmental popularity.
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As per vehicle type, the market is split into commercial vehicles and passenger vehicles. Considering the geographical landscape, the global automotive electronics market is divided into regions namely North America, Latin America, Europe, Middle East & Africa, and Asia-Pacific. Increasing awareness with regards to electric vehicles among consumers in China is a major factor fueling the automotive electronics market growth.
The prominent companies operating in the automotive electronics industry are Continental AG, Magna International, Altera Corp., Bosch Group, Lear Corp., Infineon Technologies, Hitachi Automotive Systems, Delphi Automotive, ZF Friedrichshafen AG, Texas Instruments, Voxx International Corp., Hyundai Mobis, Faurecia, and Valeo.
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