Dublin, April 25, 2024 (GLOBE NEWSWIRE) -- The "Automotive Electronics Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for the Automotive Electronics Market is forecast to surpass US$293 billion in 2024, with strong revenue growth through to 2034.
The automotive electronics market is witnessing significant growth globally, driven by several key factors. One of the primary drivers is the increasing demand for advanced driver assistance systems (ADAS) and autonomous vehicles, which rely heavily on sophisticated electronic components for functions such as collision avoidance, adaptive cruise control, and automated parking. Additionally, the growing trend towards electric and hybrid vehicles is fuelling the demand for automotive electronics, as these vehicles require specialised electronic systems for battery management, powertrain control, and energy efficiency optimisation.
Moreover, the rise of connected cars and the Internet of Things (IoT) is creating new opportunities in the automotive electronics market. Vehicle connectivity enables features such as remote diagnostics, over-the-air software updates, and enhanced infotainment systems, driving demand for communication modules, sensors, and onboard computing platforms. Furthermore, the emergence of electric and autonomous vehicles has spurred innovation in areas such as vehicle-to-everything (V2X) communication, artificial intelligence (AI) algorithms, and cybersecurity solutions, presenting lucrative opportunities for electronic component manufacturers and technology providers.
However, the automotive electronics market also faces several challenges that could impede its growth trajectory. One such challenge is the complexity of integrating various electronic systems within vehicles, as automakers strive to balance performance, reliability, and cost-effectiveness. Additionally, concerns regarding data privacy, cybersecurity vulnerabilities, and regulatory compliance pose significant hurdles for automotive electronics suppliers, requiring robust risk management strategies and investment in security solutions.
In the automotive electronics market, several restraining factors hinder the seamless adoption and integration of advanced solutions. Firstly, the high costs associated with research, development, and implementation pose a significant challenge. Developing cutting-edge automotive electronics requires substantial investment in research and development to create innovative solutions that meet evolving industry standards and consumer demands. Moreover, implementing these solutions into existing vehicle architectures can be cost-prohibitive for manufacturers, especially in an industry with tight profit margins.
Key Market Dynamics
Market Driving Factors
- Increasing Consumer Demand for Enhanced Driving Experiences, Convenience Features, and Connectivity Solutions
- Growing Demand for Electrical Vehicle Supporting the Automotive Electronic Industry Development
- Growing Popularity of Driver-Assisted Technology Driving the Market Growth
Market Restraining Factors
- The High Costs Associated with Research, Development, and Implementation of Advanced Automotive Electronics Solutions Pose a Significant Restraint
- Disruptions in the Global Supply Chain, Pose Challenges for Automotive Electronics Manufacturers
- The Compatibility of New Electronic Components with Existing Vehicle Architectures and Systems Presents Challenges for Integration
Market Opportunities
- Expansion in Emerging Markets Opportunities for the Automotive Electronics Manufacturers
- Strategic Collaborations and Partnerships Between Automotive OEMs, Electronics Suppliers, and Technology firms Creating Opportunities for Market Growth
- Investments in Electric Vehicle Infrastructure, Including Charging Networks and Battery Technology
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising automotive electronics prices and recent developments.
Segments Covered in the Report
Market Segment by Sales Channel
- Original Equipment Manufacturer (OEM)
- Aftermarket
Market Segment by Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Electric Vehicles
- Hybrid Vehicles
Market Segment by Component Type
- Electronic Control Units (ECUs)
- Sensors & Actuators
- Microcontrollers
- Displays & Connectivity Solutions
- Other Components
Market Segment by Application
- Advanced Driver Assistance Systems (ADAS)
- Infotainment Systems
- Powertrain Electronics
- Safety Systems
- Body Electronics
- Telematics
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.
The report also includes profiles and for some of the leading companies in the Automotive Electronics Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- Aisin Corporation
- Aptiv PLC
- Continental AG.
- Denso Corporation
- Hyundai Mobis
- Infineon Technologies AG
- Lear Corporation
- Magna International Inc
- Nvidia Corporation
- NXP Semiconductors N.V.
- Panasonic Holdings Corporation
- Robert Bosch GmbH
- Valeo S.A
- Yazaki Corporation
- ZF Friedrichshafen AG
In summary, the report provides you with the following knowledge:
- Revenue forecasts to 2034 for the Automotive Electronics Market, with forecasts for sales channel, vehicle type, component type, and application, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for four regional and 20 key national markets - North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Automotive Electronics Market
For more information about this report visit https://www.researchandmarkets.com/r/qkd0kh
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