Global automotive electronics market is anticipated to reach around US $490.6 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
According to the report, increasing demand for passenger vehicles worldwide along with growing penetration of electric and hybrid vehicles will drive automotive electronics market growth. In terms of revenue, the passenger vehicle segment dominated the global industry in 2017. Development of advanced self-driving cars along with growing demand for high-end luxury vehicles will support market growth.
The findings of the report suggest that growing demand for improved road safety and introduction of stringent regulations will enhance vehicular safety and control emissions, thereby increasing automotive sales and augmenting industry size.
Moreover, factors like growing disposable income, technological advancements, and changing lifestyles will supplement market size. Emergence of new markets offering enhanced consumer base would provide further impetus and growth opportunities in automotive electronics market over the forecast period, cites the study.
Based on application, the automotive electronics market is segmented into ADAS, safety systems, powertrain, infotainment, body electronics, and others. The sales channel segment is divided into OEM, and aftermarket. The OEM segment held a major share of the market in 2017.
Regionally, Asia-Pacific registered the highest market share in 2017. Introduction of stringent government norms associated with vehicular safety along with growing penetration of hybrid and electric vehicles will accelerate adoption of automotive electronics across the region. Additionally, factors like the flourishing automotive industry, technological advancements, and high-rise investments in R&D will elevate industry size.
Rapid economic growth in countries like Japan, China, and India along with increase in standard of living and disposable income will boost the demand for automotive vehicles. Arrival of international players in these countries primarily to leverage market potential will expand APAC automotive electronics market size.
Some key players operating in automotive electronics market include Atmel Corp., Bosch Group, Delphi Automotive, Texas Instruments, Hitachi Automotive, ZF Friedrichshafen AG, Infineon Technologies, ON Semiconductor Corp., OMRON Corp., and STMicroelectronics N.V. Leading firms are actively forming partnerships with other market players to develop new products that effectively meet consumers’ rising demands and needs.
The report offers a comprehensive analysis of automotive electronics market with respect to Porter’s five forces, industry trends, market forces, ecosystem analysis, competitive ranking analysis, and PEST analysis.
An in-depth analysis of the market in terms of vehicle type, application spectrum, sales channel, and regional landscape is also included in the report. Additionally, the company profiles of key players have been documented in the report along with their business overview, product benchmarking, financials, and recent developments.
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