Global Automotive Electronics Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Automotive Electronics market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region.
The Automotive Electronics Market is anticipated to reach around USD 490.6 billion by 2027. In 2021, the passenger vehicles dominated the market, in terms of revenue. In 2021, Asia-Pacific accounted for the majority share in the global Automotive Electronics market.
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The increasing demand for passenger cars, and growing penetration of electric and hybrid vehicles majorly drives the market growth. The growing need to improve road safety, and introduction of stringent regulations to enhance vehicular safety and control emissions has accelerated the growth of the automotive electronics market. The development of autonomous vehicles along with growing demand for luxury and comfortable driving experience supports the growth of the market. Other factors driving the market growth include growing disposable income, technological advancements, and changing lifestyles. New emerging markets, and emerging consumer demographics would provide growth opportunities for automotive electronics market in the coming years.
In 2017, Asia-Pacific accounted for the highest share in the global automotive electronics market. The introduction of stringent government regulations regarding vehicular safety and growing penetration of electric and hybrid vehicles accelerates the adoption of automotive electronics in the region. The strong growth in the automotive industry, technological advancements, and high investment in R&D are factors expected to drive the market growth in the region. The economic growth in countries such as China, Japan, and India, rising living standards and growing disposable income further increases the demand of automobiles in the region. Expansion of global players into these countries to tap market potential boosts the market growth.
COVID-19 Impact
The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Automotive Electronics Market also experienced a slowdown. Statista estimates that the Automotive Electronics Market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Automotive Electronics Market generated revenues of US$ 5.4 trillion at a record high.
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The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Automotive Electronics Market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.
The global Automotive Electronics market is segmented on the basis of application, vehicle type, sales channel, and geography. Based on application, the market is segmented into Powertrain, ADAS, Safety Systems, Infotainment, Body Electronics, and others. The sales channel segment is categorized into OEM, and aftermarket. OEM accounted for the dominant share in the global automotive electronics market in 2017. The vehicle types in the global automotive electronics market include passenger vehicles, and commercial vehicles.
The well-known companies profiled in the report include Bosch Group, Atmel Corporation, Delphi Automotive, Hitachi Automotive, Texas Instruments, Infineon Technologies, ZF Friedrichshafen AG, ON Semiconductor Corp., OMRON Corporation., and STMicroelectronics N.V. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
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