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The size of the worldwide automotive electronics market was estimated at USD 244,954.8 million in 2022, and from 2023 to 2030, it is anticipated to increase at a CAGR of 9.6%. Over the projected period, demand is anticipated to increase due to the increased integration and implementation of modern safety systems including automatic airbags, parking assistance systems, emergency braking, and lane departure warning to reduce traffic accidents. In addition, technologies including alcohol ignition interlocks, emergency call systems, and accident data recorder systems are being quickly adopted to protect passengers inside vehicles and are anticipated to propel market expansion over the projection period.
The COVID-19 pandemic has had a devastating effect on the world economy and auto manufacturing. The COVID-19 fallout resulted in issues with the supply chain and the closure of several production facilities. The epidemic has hurt sales of both passenger and commercial cars, which has also impacted consumer demand in the automotive sector.
The EU market once dominated the sales of automotive electronic components, but more recently, the adoption rate has declined due to a decline in auto sales in the region. Municipal restrictions and government economic stimulus programmes mean that Europe is likely to undergo a wide range of recovery cycles. The German Automotive Industry Association (VDA) reports that in Europe, 5.1 million passenger cars were registered in the first half of 2020, which is 39% fewer than in 2019. Additionally, compared to the prior year, passenger vehicle sales in the U.S. decreased by almost 26% in 2020. In order to provide high-performance electronics and energy storage technology at a reasonable price, the automotive industry is devoting a sizable amount of resources to research and development. In order to reach a high level of safety, OEMs are now depending increasingly on electronics. However, the automobile sector is shifting away from hardware-driven vehicles and towards vehicles that are powered by software.
The market's growth is impacted by the average amount of electronic and software components per vehicle, which is rising significantly. The demand for automotive electronics is being fueled by elements including the integration of IoT and AI into automobiles, the availability of automated vehicles, the desire for in-vehicle safety features, and an increase in the demand for entertainment services. The need for automotive electronics components is anticipated to increase as hybrid electric vehicles (HEV) and electric vehicles (EV) become more widely used. Additionally, replacing mechanical parts with electronic parts, such as using electronic switches rather than relays, is another way that electronics can meet the diverse needs of the automotive industry while at the same time boosting reliability and lightening wire harnesses. Over the projection period, it is also anticipated that government laws to reduce traffic accidents and technological improvements connected to in-vehicle safety will increase demand.
Report Coverage
Global Automotive Electronics research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive Electronics report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive Electronics competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive Electronics market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive Electronics market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive Electronics market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Continental AG; DENSO Corporation; Hella GmbH & Co. Kgaa; Infineon Technologies AG; Robert Bosch GmbH; Valeo Inc.; ZF Friedrichshafen AG; Hitachi Automotive Systems, Ltd.; Visteon Corporation; Xilinx, Inc.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Automotive Electronics market based on the below-mentioned segments:
Global Automotive Electronics Market, By Component
Electronic Control Unit
Sensors
Current Carrying Devices
Others
Global Automotive Electronics market, By Application
ADAS
Infotainment
Body Electronics
Safety Systems
Powertrain Electronics
Global Automotive Electronics market, Regional Analysis
The COVID-19 pandemic has had a devastating effect on the world economy and auto manufacturing. The COVID-19 fallout resulted in issues with the supply chain and the closure of several production facilities. The epidemic has hurt sales of both passenger and commercial cars, which has also impacted consumer demand in the automotive sector.
The EU market once dominated the sales of automotive electronic components, but more recently, the adoption rate has declined due to a decline in auto sales in the region. Municipal restrictions and government economic stimulus programmes mean that Europe is likely to undergo a wide range of recovery cycles. The German Automotive Industry Association (VDA) reports that in Europe, 5.1 million passenger cars were registered in the first half of 2020, which is 39% fewer than in 2019. Additionally, compared to the prior year, passenger vehicle sales in the U.S. decreased by almost 26% in 2020. In order to provide high-performance electronics and energy storage technology at a reasonable price, the automotive industry is devoting a sizable amount of resources to research and development. In order to reach a high level of safety, OEMs are now depending increasingly on electronics. However, the automobile sector is shifting away from hardware-driven vehicles and towards vehicles that are powered by software.
The market's growth is impacted by the average amount of electronic and software components per vehicle, which is rising significantly. The demand for automotive electronics is being fueled by elements including the integration of IoT and AI into automobiles, the availability of automated vehicles, the desire for in-vehicle safety features, and an increase in the demand for entertainment services. The need for automotive electronics components is anticipated to increase as hybrid electric vehicles (HEV) and electric vehicles (EV) become more widely used. Additionally, replacing mechanical parts with electronic parts, such as using electronic switches rather than relays, is another way that electronics can meet the diverse needs of the automotive industry while at the same time boosting reliability and lightening wire harnesses. Over the projection period, it is also anticipated that government laws to reduce traffic accidents and technological improvements connected to in-vehicle safety will increase demand.
Report Coverage
Global Automotive Electronics research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive Electronics report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive Electronics competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive Electronics market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Continental AG; DENSO Corporation; Hella GmbH & Co. Kgaa; Infineon Technologies AG; Robert Bosch GmbH; Valeo Inc.; ZF Friedrichshafen AG; Hitachi Automotive Systems, Ltd.; Visteon Corporation; Xilinx, Inc. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Automotive Electronics Market from 2021 to 2030.
- Market Forecast for Automotive Electronics Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Automotive Electronics competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Automotive Electronics
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive Electronics market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive Electronics market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Continental AG; DENSO Corporation; Hella GmbH & Co. Kgaa; Infineon Technologies AG; Robert Bosch GmbH; Valeo Inc.; ZF Friedrichshafen AG; Hitachi Automotive Systems, Ltd.; Visteon Corporation; Xilinx, Inc.
Primary Target Market
- Market Players of Automotive Electronics
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Automotive Electronics market based on the below-mentioned segments:
Global Automotive Electronics Market, By Component
Electronic Control Unit
Sensors
Current Carrying Devices
Others
Global Automotive Electronics market, By Application
ADAS
Infotainment
Body Electronics
Safety Systems
Powertrain Electronics
Global Automotive Electronics market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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Through INFINITIVE Data Expert is a professional Market Research services, I will identify the automotive electronics market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.