The global automotive electronics market size is expected to reach US$ 640.56 billion by 2030 from US$ 255.98 billion in 2020 and is expected to grow at an impressive double-digit rate of 7.64% from 2021 to 2030.
The study includes drivers and restraints of this market.
The study provides an analysis of the global automotive electronics market for
the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2020 is
considered as the base year.
Crucial factors accountable for market growth are:
- Rising adoption and incorporation of automotive electronics in recent vehicles to carry improved comfort and safety boosts the growth of automotive electronics industry
- The escalating automotive production right away influences the revenue sales and volume of electronic components
- Increasing focus of automotive manufacturers on increasing safety of vehicles
- Growing popularity of Driver-Assisted technology.
- Launch of electric vehicles
Report Highlights
- Asia Pacific anticipated constituting prime share in the global automotive electronics market in terms of revenue throughout the assessment period
- Accident data recorder system, alcohol ignition interlock, and emergency call system are achieving attention that drives the demand for advanced electronic in the automotive sector
- Advanced driver-assistance systems or ADAS application segment of the market is predicted to grow at the fastest rate during years to come due to numerous steps undertaken by the governments to augment the security and safety of drivers along with the vehicles
Why should you invest in this report?
If you are aiming to enter the global automotive electronics
Market, this report is a comprehensive guide that provides crystal clear
insights into this niche market. All the major application areas for automotive
electronics are covered in this report and information is given on the important
regions of the world where this market is likely to boom during the forecast
period of 2021-2030, so that you can plan your strategies to enter this market
accordingly.
Besides, through this report, you can have a complete grasp
of the level of competition you will be facing in this hugely competitive
market and if you are an established player in this market already, this report
will help you gauge the strategies that your competitors have adopted to stay
as market leaders in this market. For new entrants to this market, the
voluminous data provided in this report is invaluable.
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Growth Factors
The future of cars is about sharing, autonomous driving, electric power, and links to external networks (i.e. vehicle-to-everything/ V2X) and automotive electronics will be leveraged for all 4 of these segments. Rising automotive electronics acceptance to offer safety features like emergency call systems, alcohol ignition interlocks, and calamity data recorder systems are anticipated to boost growth of the market. Cumulative acceptance by OEMs on high-volume traditional executions is also expected to amend the governing framework.
However, on account of COVID-19, most of the nations obeyed a complete lockdown that has impacted vehicle production across the world. Manufacturing units have been closed; thus, sales of vehicles have dropped and impacted production on a global level. Though few OEMs have restarted production; the drive by wire market may perceive noteworthy decline in 2020. Though, the COVID-19 outbreak disturbed the ICE vehicle production, numerous automakers are still concentrating on expansions in numerous drives by wire systems.
Regional Snapshots
Rapidly rising automotive sector in the region due to varying living standards and cumulative purchasing power of users is expected flourish revenue growth of automotive electronics market in Asia Pacific during forecast period. Furthermore, increasing automotive aftermarket is anticipated to subsidize revenue development of automotive electronics market in APAC. China occupied for over 28% of global motor production. It was the front-runner in passenger car sales and production with 23.7 million and 23.5 million correspondingly, in 2018.
North America is predictable to develop at the considerable CAGR of throughout the estimate period. The U.S. is expected to govern the regional market due to the occurrence of crucial manufacturers including ZF Friedrichshafen AG, Continental AG, Autoliv, Inc, and Robert Bosch GmbH and others.
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Key Market Players and Strategies
Majority of the automotive design is progressively dependent on more sophisticated electronic systems. Since past few years, automotive electronics market was dominated by leading key manufacturers holding substantial shares such as Bosch and Continental AG. Few other market competitors are ZF Friedrichshafen, Delphi, TRW and Denso among others.
- Sensors
- Electronic Control Unit
- Current Carrying Devices
By Sales Channel
- OEM
- Aftermarket
By Application
- Body Electronics
- ADAS
- Infotainment
- Safety Systems
- Powertrain Electronics
Regional Analysis:
The geographical analysis of the global automotive
electronics Market has been done for North America, Europe, Asia-Pacific,
and the Rest of the World.
The North American market is again segmented into the US,
Canada, and Mexico. Coming to the European market, it can be segmented further
into the UK, Germany, France, Italy, Spain, and the rest. Coming to the
Asia-Pacific, the global automotive electronics Market is segmented into China,
India, Japan, and Rest of Asia Pacific. Among others, the market is segmented
into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of
the Middle East & Africa).
Key Questions Answered by the Report:
- What
will be the size of the global automotive electronics Market in 2030?
- What
is the expected CAGR for the automotive electronics Market between 2021
and 2030?
- Which
are the top players active in this global market?
- What
are the key drivers of this global market?
- How
will the market situation change in the coming years?
- Which
region held the highest market share in this global market?
- What
are the common business tactics adopted by players?
- What
is the growth outlook of the global automotive electronics Market?
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