Automotive Electronics Market Size

1. Automotive electronics comprise devices or equipment capable of enhancing the performance of cars. Some of them are carputers, telematics, in-car entertainment systems, and radio. Similar systems are being used in hybrid and electric vehicles. The global Automotive Electronics Market Size is predicted to expand at 6.56% CAGR from 2018 to 2023 (forecast period), according to Market Research Future (MRFR). Automotive Electronics Market Size Prospects The growth in automotive industry directly translates into increasing demand in the Automotive Electronics Market Size. Moreover, technological advancements such as electrical active suspensions and power trains for electric vehicles and heavy investments are helping the Automotive Electronics Market Size, grow. Additionally, automotive electronics also provides front lighting system and driver assistance systems are also anticipated to amplify industry demand. Rising trend of in-vehicle infotainment is also likely to help boost the market growth. However, high complexity levels and lacking understanding of the overall subsystems’ may hinder the growth. The global Automotive Electronics Market Size is expected a massive surge in growth due to demand for infotainment and advanced electronic systems. Need for systems which can provide a safe and comfortable driving experience is likely to culminate in high market demand. This is buttressed by the spike in production rate of commercial and passenger vehicles which can induce the need for electronic systems. Segmentation The Automotive Electronics Market Size is segmented by sales channel, type, and application. By sales channel, it is segmented into aftermarket and original equipment manufacturer (OEM). By type, it is segmented into advanced driver assistance systems, powertrain, safety systems, body electronics, entertainment, and others. By application, it is segmented into two wheeler, electric vehicle, heavy commercial vehicle, light commercial vehicle, and passenger cars. Regional Analysis North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW) are regions taken into consideration in the Automotive Electronics Market Size. The North America region is expected to lead the market followed by APAC. High demand for electric vehicles combined with the latest infotainment systems can widen the scope of the Automotive Electronics Market Size in the region. Government policies outlining driver and passenger safety can spur market demand. The European Automotive Electronics Market Size is driven by incorporation of machine learning and artificial intelligence in commercial and passenger vehicles. High production of electric vehicles combined with renewable energy targets of countries outlining emission guidelines can push the potential for growth.

2. The APAC region is set to exhibit an explosive growth rate owing to changing lifestyle of consumers and high expendable income levels. Lack of manufacturers in the region makes the region ripe for investment by private players. Investments by the automotive sector in India, Japan, and China can further the market growth till 2023. Competitive Landscape Vendors include Denso Corporation, Koninklijke Philips N.V., Atotech, ZF Friedrichshafen AG, Delta Electronics, Inc., HGM Automotive Electronics, OMRON Corporation, Robert Bosch GmbH, Infineon Technologies AG, and Hitachi, Ltd. The players are indulging in product launches, mergers & acquisitions, and partnerships to sustain their position in the intense market. Industry News In 2019, Telechips partnered with Imagination Technologies for virtualizing the hardware which normally occupy space in cars. The PowerVR system architecture, a proprietary system devised by Imagination can ensure reliability and quality of service of all components which need to be powered by the GPU. C&K, a prominent manufacturer of switches, has launched its latest offering, KSC XA, which has primary use in automotive interior and opening applications.