Dublin, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The "Global Automotive Electronics Market Size, Share & Industry Trends Analysis Report By Application (Safety Systems, Powertrain Electronics, Infotainment, ADAS and Body Electronics), By Sales Channel, By Component, By Regional Outlook and Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Electronics Market is projected to reach a value of $470.6 billion by 2030, with a significant growth rate represented by a Compound Annual Growth Rate (CAGR) of 9.1% during the forecast period.
Market Scope
This report provides insights into the global automotive electronics market, covering aspects such as market size, forecast, applications, sales channels, and key market players. It highlights the growing adoption of sensors in vehicles and the impact of government initiatives promoting passenger safety and security.
Key Insights
- The sensors segment is expected to capture around one-fifth of the market share by 2030. Sensors play a crucial role in detecting physical factors, proximity, positioning, chemical qualities, and process variables in vehicles.
- Government initiatives aimed at improving passenger safety and security in various countries are expected to drive the revenue expansion of automotive electronics. Sensors, by monitoring various variables, have become integral to automobiles, taking preventive action in case of hazards.
- The rising demand for electric vehicles (EVs) is driving the global adoption of EVs. In 2019, over 2.1 million electric vehicles were sold, accounting for around 2.6% of global vehicle sales. Advances in battery technology are enabling the accelerated electrification of vehicles.
- Autonomous vehicles are gaining traction due to their ability to perceive the environment and operate without human intervention. Factors such as enhanced safety, reduced traffic congestion, connected infrastructure, and the shift towards mobility-as-a-service (MaaS) contribute to the growth of autonomous vehicles and automotive electronics.
Market Growth Factors
- Increasing adoption of electric vehicles worldwide.
- Rise in the adoption of sensors and equipment-equipped autonomous vehicles.
- Technological advancements in battery technology for electric vehicles.
- Enhanced safety, reduced traffic congestion, connected infrastructure, and mobility-as-a-service (MaaS) driving the growth of autonomous vehicles.
Market Restraints
- High cost of implementing sophisticated electronic technologies and systems in vehicles.
- Higher costs of vehicle electronics potentially making vehicles more expensive for consumers, affecting accessibility and adoption.
Scope of the Study
The study covers various aspects of the global automotive electronics market:
- Application (Safety Systems, Powertrain Electronics, Infotainment, ADAS, Body Electronics)
- Sales Channel (OEM, Aftermarket)
- Component (Current Carrying Devices, Sensors, Electronic Control Unit, Others)
Key Market Players
Several prominent companies are profiled in the report, including:
- Continental AG
- Robert Bosch GmbH
- Sony Corporation
- Aptiv PLC
- Hyundai Mobis Co., Ltd. (Hyundai Motor)
- ZF Friedrichshafen AG
- Infineon Technologies AG
- Magna International, Inc.
- Aisin Corporation (Toyota Motor Corporation)
- Koninklijke Philips N.V.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
4.1 Market Share Analysis, 2022
4.2 Strategies deployed in Automotive Electronics Market
4.3 Porter's Five Force Analysis
Chapter 5. Global Automotive Electronics Market by Application
Chapter 6. Global Automotive Electronics Market by Sales Channel
Chapter 7. Global Automotive Electronics Market by Component
Chapter 8. Global Automotive Electronics Market by Region
Chapter 9. Company Profiles
Chapter 10. Winning Imperative for Automotive Electronics Market
For more information about this report visit https://www.researchandmarkets.com/r/clnd0z
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