Automotive Electronics Market to Grow Two-Fold through 2029
The global automotive electronics market size will more than double between 2019 and 2029. The sensor segment of automotive electronic components will grow at a double-digit CAGR of 10% through 2029.
Development trends such as lightweight materials, miniaturization, and integration of artificial intelligence in automobiles will drive the automotive electronics market during the forecast period (2019-2029).
Prevalence of electric vehicles (EVs), advanced driver assistance system (ADAS), and Internet of Things (IoT) enabled smart devices are accelerating the demand for automotive electronics.
EVs employ electronic control units to ensure performance and safety. Hence, penetration of electric vehicles will positively impact the demand for automotive electronics.
Manufacturers are targeting developing economies in order to leverage booming automotive sales.
These countries are witnessing a surge in disposable incomes of the growing millennial workforce who are inclined towards smart gadgets. The global automotive electronics market will grow more than two-fold between 2019 and 2029.
Current Carrying Devices to Account for Significant Revenue Share, Sensors Exhibit High Growth
Current carrying devices will grow two-folds from 2019 to 2029. This basic component of automobiles exhibits a strong growth trajectory of more than 7% CAGR during the forecast.
Booming heavy duty vehicle sales in industries and light duty vehicle sales in developing countries are central factors contributing to the strong growth of this segment.
On the other hand, sensors offer the most remunerative growth opportunities on the back of mass-adoption of parking assistance technology in both conventional and new-energy automobiles.
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East Asia and South Asia & Oceania Present Lucrative Growth Opportunities
East Asia and South Asia & Oceania, collectively account for over 43% share of the total market value. Countries such as China, India, and Indonesia are central to the share-wide leadership.
China is the largest motor producer, as well as, the largest consumer of automotive products.
When coupled with multiplying automotive sales in India and Indonesia, East Asia and SAO are well positioned to lead global sales throughout the forecast period.
North America offers remunerative growth opportunities owing to budding EV ecosystem in developed countries such as the US. On the back of the presence of key manufacturers such as Continental AG, Autoliv Inc., and Robet Bosch GmbH, the US accounts for more than 80% of motor vehicle manufacturing.
Hence, there will be an increasing demand for automotive electronics from North American countries.
Advanced Technologies to Pave Way for Future Growth Prospects
Increasingly stringent safety norms are driving innovation and development of sensor technology and signal processing algorithms. These are increasing the demand for automotive electronics.
Technological advancements such as adaptive cruise control (ACC), parking assistance, and blind-spot detection are attracting and engaging consumers.
Manufacturers will witness a directly proportional increase in product demand from B2B channels owing to increasing global automotive production.
Major players that influence the competitive landscape are, but not limited to
- Altera (Intel Corporation)
- Broadcom Ltd.
- Continental AG
- DENSO CORPORATION
- Hella Gmbh & Co. Kgaa (Hella)
- Hitachi Automotive Systems Ltd.
- Infineon Technologies AG
- Microchip Technology Inc.
- NXP Semiconductors N.V.
- Panasonic Corporation
- Robert Bosch GmbH
- Texas Instruments Incorporated
- Valeo Inc.
- Visteon Corporation
- Xilinx Inc.
- ZF Friedrichshafen AG.
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Global Automotive Electronics Market: In-Depth Assessment on Key Segments
The global automotive electronics market is segmented on the basis of component, application, sales channel and region.
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited
Country-specific assessment on demand for automotive electronics has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous automotive electronics manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries.
The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global automotive electronics market.
Global Automotive Electronics Market – Scope Of The Report
The following report provides forecast and analysis of the global automotive electronics market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn) and, according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global automotive electronics market along with several macro-economic indicators.
This newly published and insightful report on automotive electronics sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global automotive electronics market.
The report also comprises the study of current issues with end users and opportunities for automotive electronics. It also contains value chain analysis, including the key market participants.
To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of automotive electronics manufacturers on parameters such as total revenue, product offerings, and key strategies.
A list of key companies operating in the automotive electronics market provided in the report adds to the credibility of this exhaustive research study.
Global Automotive Electronics Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the automotive electronics market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the automotive electronics market, which includes global GDP growth rate, automotive and others.
This report serves as an authentic resource of intelligence on the automotive electronics market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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