Automotive Electronics Market

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Location: Johor - 411051

Date posted 12 Jun 2019

Price: RM 284566

Ad ID: 22892

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Automotive Electronics Market size is valued at US$ 213.4 Bn in 2017 and expected to grow at a CAGR of 4.5% in the forecasting period. Increasing automotive electronics adoption to deliver safety features including vehicle data recorder systems, emergency call systems, and alcohol ignition interlocks are anticipated to fuel the market demand. As per EU assessment, over 40% of the onboard components in the entire car is electronically based and the percentage is expected to rise with the improvement in current regulations governing the automotive electronics market.

Growth in an overall number of fleets along with their high average age will propel the automotive electronics market expansion. As per the Autocare Association, the U.S. automotive aftermarket is anticipated to surpass USD 270 billion in 2017, which is an increase of almost USD 36 billion from the past four years. This has benefitted the U.S. GDP with a surge of 2%. In 2015, over 260 million passenger cars were registered in the country, an increase of 5 million over 2014.

automotive electronics market

The automotive electronics market is segmented based on application and geography. By applications segment, the market is segmented into ADAS, body electronics, entertainment, powertrain, and safety systems. ADAS application sector is expected to observe a high growth owing to the enactment of several safety regulations that have to be adhered to, leading to their adoption in cars’ active security systems. These systems engage innovative software and sophisticated electronic components coupled with various sensors to enhance the safety of drivers and their surroundings, detect driver health, and improve the driving experience. The development of ADAS in vehicles will efficiently ensure road safety and in turn, will propel the automotive electronics market growth.
Geographically, the automotive electronics market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to be the largest market for Automotive Electronics during the forecast period due to increasingly stringent safety regulations in the region. Several upcoming governmental regulations regarding vehicles, passengers as well as pedestrian safety have encouraged the automobile manufacturers to include the authorized features as a default offering. Further, the U.S. New Car Assessment Program (NCAP) has mandated lane departure warning systems and emergency braking systems to guarantee a five-star rating for passenger cars and thereby boosting the automotive electronics market growth.
Key player across the automotive electronics industry are Bosch Group, Hitachi Automotive Systems, Infineon Technologies AG, Panasonic, Texas Instruments, TRW, and Wipro. Global automotive electronics market is highly competitive due to a large presence of industry players across the globe. Continued pervasion of advanced technology into almost all the main systems in vehicles is expected to drive market growth. Automakers are projected to increase the adoption of intelligent electronics that makes their vehicles environment-friendly and safe to drive.

For more Imformation : https://www.maximizemarketresearch.com/market-report/automotive-electronics-market/12838/

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