Global Automotive Electronics (IC Engine and EVs) Market Report 2023: Transforming Automotive Business Model from Personal Mobility to Mobility-As-A-Service

Dublin, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The "Automotive Electronics: Global Markets for IC Engine and EVs" report has been added to's offering.

The automotive industry is transitioning from gasoline/diesel-powered vehicles to alternative fuel-powered vehicles. Manufacturers are making significant investments in the development of electric vehicles. Furthermore, vehicle safety and comfort have become key priorities for consumers. Many developed countries have mandated installation of various safety devices in new vehicles. These regulations are helping to drive the demand for automotive electronics.

Today, vehicle connectivity is cutting-edge as Gen Z consumers are interested in stylish vehicle cockpits and software-driven vehicle systems. Therefore, many automotive vehicle manufacturing companies offer innovative displays, heads-up displays (HUD), voice-assisted in-vehicle infotainment systems, and many more electronic features. These advanced technologies all require various types of actuators, sensors, control modules, and other electronic components.

Increasing investments in autonomous vehicles are pushing manufacturers of automotive electronic products to make high-quality products that occupy less space but can offer high performance. Premium vehicles can have more than 100 ECUs to perform multiple operations from fuel injection to keyless entry.

Connected vehicles or smart vehicles are capable of reducing the number of accidents by sharing road- and vehicle-related information such as road conditions, speed control, etc. Various safety features in vehicles such as lane departure warning, automated emergency braking, driver alert systems, etc. provide more safety and control. Furthermore, connected vehicles can share vehicle and occupant-related information with fleet managers, vehicle owners, etc., through real-time navigation.

This report analyzes the automotive electronics market by application, vehicle type, propulsion type, sales channels, and region. Furthermore, the report also includes various market dynamics such as drivers, restraints, trends, and opportunities in the global market. Moreover, the report contains M&A and funding information, emerging technology analysis and analysis of ESG developments.

Market Dynamics

Market Drivers

  • Government Steps Toward the Safety of Vehicles Are Boosting the Demand for Automotive Electronics
  • Advancements in Vehicle Technology Are Boosting the Demand for Electronic Products
  • Transforming Automotive Business Model from Personal Mobility to Mobility-As-A-Service
  • Changing Consumer Interests and Rising Awareness of Battery-Powered Vehicles

Market Restraints

  • Increases in the Overall Cost of Vehicles
  • Cybersecurity Issues Could Hamper the Overall Market Growth
  • Declining Production of Internal Combustion Engine Vehicles

Market Opportunities

  • Increasing Penetration of Software in Vehicles
  • Emerging Potential Electric Vehicle OEMs Across the Globe
  • Autonomous Driving Paving the Way for Electronics Systems or Devices Used in the Vehicles

The study is prepared in a simple, easy-to-understand format; tables and figures are included to illustrate historical, current and future market scenarios. The report also covers leading companies with information on product types, business footprint, revenue, employee strength, ESG rating, etc. We have also identified various small-scale and emerging players in the global and regional markets with their product-related information. The report also includes a patent analysis of the automotive electronics market.

Key Report Highlights:

  • An up-to-date overview and analysis of the global markets for automotive electronics (AEs) for IC engine and EVs
  • Analyses of the global market trends, with historical market revenue data (sales figures) for 2022, estimates for 2023, forecasts for 2024 and 2026, and projections of compound annual growth rates (CAGRs) through 2028
  • Estimation of the actual market size and revenue forecast for automotive electronics global market in USD billion values, and corresponding market share analysis based on application, vehicle type, propulsion type, sales channel, and geographic region
  • Discussion of the major growth drivers, opportunities and challenges, technology updates, and the impact of macroeconomic variables influencing the market for automotive electronics as a basis for projecting demand in the next five years (2023-2028)
  • Country specific data analysis and market growth forecasts for the U.S., Canada, Mexico, Germany, Italy, France, the U.K., Japan, China, India and South Korea, among others
  • Review of recently granted key patents and patent publications on automotive electronics market
  • Highlights of current trends in the global market for automotive electronics, emerging technologies and new developments in the industry
  • Understanding of ESG (Environmental, Social and Governance) perspectives in the global market for automotive electronics, with emphasis on ESG factors impact on performance, current status, future perspectives, and approach by automotive electronics companies to achieve ESG goals
  • Insight into the recent structure of the industry for automotive electronics, competitive aspects of each product segments, increasing R&D investments, market growth strategies, start-up fundings and company value share analysis
  • Identification of the major stakeholders and analysis of their company competitive landscape based on recent developments, key financials and segmental revenues, and operational integration
  • Descriptive company profiles of the leading players in automotive electronics market, including Aptiv Plc, Continental AG, Denso Corp., Robert Bosch GmbH, Magna International Inc., Hella GmbH & Co. KGaA, and ZF Friedrichshafen AG

Key Attributes:

Report AttributeDetails
No. of Pages277
Forecast Period2023 - 2028
Estimated Market Value (USD) in 2023$337.9 Billion
Forecasted Market Value (USD) by 2028$508 Billion
Compound Annual Growth Rate8.5%
Regions CoveredGlobal

Company Profiles

  • Aptiv plc
  • Continental AG
  • Denso Corp.
  • Hella GmbH & Co. Kgaa
  • Hyundai Mobis
  • Lear Corp.
  • Magna International Inc.
  • Panasonic Automotive Systems Co. Ltd.
  • Robert Bosch GmbH
  • Sumitomo Electric Industries Ltd.
  • Valeo
  • ZF Friedrichshafen AG

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Global Automotive Electronics Market

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