Pune, India, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The global automotive electronics market size was valued at USD 239.03 billion in 2022 and is projected to reach a valuation of USD 259.63 billion in 2023. The market is expected to reach USD 386.24 billion by 2030 with a CAGR of 5.8% during the forecast period. Automotive electronics refers to electronic systems and components in vehicles for various purposes such as vehicle control, safety, communication, entertainment, and connectivity. The rise in demand for electric vehicles and connected cars is set to develop market growth. Fortune Business Insights™ shares this information in its report titled “Global Automotive Electronics Market, 2023-2030.”
Competitive Landscape:
Various Emerging and Established Players Striving to Gain a Competitive Edge
Key players in automotive electronics are Bosch Group, Continental AG, Denso Corporation, Aptiv PLC, Infineon Technologies AG, and Panasonic Corporation. The market is segregated with various emerging and established players striving to gain a competitive edge.
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Report Highlights:
| Report Coverage | Details | |
| Forecast Period | 2023-2030 | |
| Forecast Period 2023 to 2030 CAGR | 5.8% | |
| 2030 Value Projection | USD 386.24 Billion | |
| Base Year | 2022 | |
| Market Size in 2022 | USD 239.3 Billion | |
| Historical Data for | 2019-2021 | |
| No. of Pages | 200 | |
Drivers & Restraints-
Rising Awareness for Safety and Strict Automotive Regulations to Propel Market Growth
Rising awareness for safety and strict automotive regulations is anticipated to drive the automotive electronics market growth. The automotive industry has been giving emphasis to vehicle safety, driven by stringent regulations and consumer demand for enhanced safety features. The market stood at USD 102.10 billion in the year 2022 with the integration of electronic systems to improve vehicle safety, reduce accidents, and comply with regulatory requirements.
However, the high cost associated with implementing advanced electronic systems and technologies in vehicles is expected to hamper the market growth.
COVID-19 Impact-
Automotive Industry Experienced Sharp Decline in Vehicle Production
The COVID-19 pandemic affected the supply chains which led to a shortage of electronic components and raw materials for manufacturing. The automotive industry experienced a sharp decline in vehicle production as many manufacturing facilities were temporarily shut down to comply with lockdown measures and ensure the safety of workers. Post-pandemic, digital transformation in the automotive industry is expected to fuel market growth.
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Segments-
ECU/DCU to Lead Due to Demand for Electric and Hybrid Vehicles
On the basis of type, the market is divided into ECU/DCU, sensors, power electronics, and others. The Electric/Hybrid vehicles (ECU/DCU) segment dominated the market in 2022 due to the growing demand for electric and hybrid vehicles.
Powertrain to Dominate Due to its Wide Applications
On the basis of application, the market is classified into body, chassis, powertrain, infotainment, and ADAS/AD. The powertrain segment holds the largest market share due to its wide application in powertrains, such as ICE, electric vehicles, and hybrid vehicles.
Passenger Cars Dominant due to High Production and Sales
On the basis of vehicle type, the market is classified into passenger cars and commercial vehicles. Passenger cars hold the largest market share due to high sales of passenger vehicle and production such as commercial vehicles and off-road vehicles.
Electric/Hybrid Leads as they are designed for Various Purposes
On the basis of propulsion type, the market is classified into ICE and electric/hybrid. Electric/hybrid holds the largest market share as they are designed for battery management, electric motor control, regenerative braking, and charging infrastructure integration.
Based on geography, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Report Coverage-
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Regional Insights-
Asia Pacific to Lead as it has the Largest Automotive Industry
Asia Pacific dominated the automotive electronics market share as it is the home to the largest automotive industry globally. The region stood at USD 102.10 billion in 2022 and is also set to have the fastest CAGR with growing countries such as South Korea, India, China, and Japan.
North America had significant market growth in the year 2022 due to a significant number of technology companies, research institutes, and automotive manufacturers.
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List of Key Players Covered in Automotive Electronics Market Report:-
• Continental AG (Germany)
• Robert Bosch GmbH (Germany)
• SONY Corporation (Japan)
• Aptiv PLC (Ireland)
• Hyundai Mobis (South Korea)
• ZF Friedrichshafen AG (Germany)
• Autoliv Inc. (Sweden)
• Magna International Inc. (Canada)
• Aisin Seiki Co. Ltd (Japan)
• Philips N.V. (Netherlands)
• Infineon Technologies AG (Germany)
• NVIDIA Corporation (U.S.)
• Valeo SA (France)
Automotive Electronics Market Segmentation:-
By Type
- ECU/DCU
- Sensors
- Power Electronics
- Others (Harnesses, Controls, Switches, Displays)
By Application
- Body
- Chassis
- Powertrain
- Infotainment
- ADAS/AD
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By Propulsion
- ICE
- Electric/Hybrid
Key Industry Development:
March 2023- Lumotive developed a chip made from silicon. It is a semiconductor that uses software to steer a beam to detect a vehicle’s surroundings. The chips are designed to provide safety requirements across automotive industries.
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Table of Content:-
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Report Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Key Industry Developments – Mergers, Acquisitions & Partnerships
- Latest Technological Developments
- Porters Five Forces Analysis
- Impact of COVID-19 on India Automotive Electronics Market
- Global Automotive Electronics Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Definitions
- Market Analysis, Insights and Forecast – By Type
- ECU/DCU
- Sensors
- Power Electronics
- Others (Harnesses, Controls, Switches, Displays)
- Market Analysis, Insights and Forecast – By Application
- Body
- Chassis
- Powertrain
- Infotainment
- ADAS/Autonomous Driving (AD)
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis, Insights and Forecast – By Propulsion
- ICE
- Electric/Hybrid
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
Toc Continued…..
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