The latest Automotive Electronics Market research report offers a thorough analysis of growth opportunities and development trends until 2030. Using qualitative and quantitative research, it explores market drivers and challenges, providing valuable insights for businesses to make informed decisions and identify growth areas.
Global Automotive Electronics Market is valued at approximately USD $$ Billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.9% over the forecast period 2022-2029.
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Automotive electronics have remained one of the most important components of the automotive industry since the invention of motorized vehicles. The automobile sector has undergone a tremendous transition from traditional gasoline vehicles to complete electrification in vehicles such as electric vehicles (EV) and automated vehicles (AV). Automotive electronics encompass a variety of components such as ignition, engine management, telematics, radio, power windows, lighting, and emergency systems, among others, that rely directly or indirectly on electrical components in automobiles. The Automotive Electronics Market is expanding because of factors such as the growing adoption of electric vehicles and increasing demand for safety, security, and comfort.
According to Statista, the worldwide automotive electronics industry is expected to expand between 2021 and 2027. While the market was valued at USD 272.3 billion in 2021, it is predicted to grow to USD 415.6 billion by 2027. For instance, the Indian government has de-licensed the usage of devices in the frequency ranges 36-38 MHz, 433-434.79 MHz, 76-77 GHz, and 302-351 kHz. The de-licensing of these low-frequency bands has enabled OEMs to exploit this frequency through a radar-based system and focus on the creation of specific ADAS capabilities. Furthermore, the government is taking steps to promote the use of zero-emission vehicles, as well as mandating safety standards for automotive makers. All these factors are driving up demand for electronics, moving the market forward. Also, the increasing number of vehicles equipped with automatic driving and funding for vehicle self-driving technology will provide lucrative growth opportunities for the market during the forecast period. However, the system complexity and high-cost hamper market growth during the forecast period of 2022-2029.
The key regions considered for the Global Automotive Electronics Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the largest proportion of the global automotive electronics sector. Developing economies such as India, China, and Japan have a sizable number of electronics and automobile manufacturers. Automotive manufacturers intend to expand production volume in this region by implementing innovative technologies in manufacturing facilities. Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as the increased awareness of vehicle and occupant safety and security. The presence of major automotive manufacturers such as Volkswagen, Skoda, Audi, BMW, and Daimler, among others, is important in this region. Furthermore, the European Government has established several rules to reduce vehicular accidents and provide safety features in all vehicles, which is fueling the ADAS industry in this region. All these factors are eventually driving the market’s growth.
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Major market players included in this report are:
Continental AG
Robert Bosch GmbH
Sony Corporation
Aptiv
Hyundai Mobis
ZF Friedrichshafen AG
Autoliv Inc.
Magna International Inc.
Aisin Seiki Co. Ltd
Philips N.V.
Recent Developments in the Market:
In July 2021, Magna International Inc. and Veoneer signed a merger agreement within which Magna acquire Veoneer. The company is integrated with Magna’s ADAS and electronics operational units.
Global Automotive Electronics Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Application Type, Vehicle Type, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Application Type offerings of key players.
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The detailed segments and sub-segment of the market are explained below.
By Application Type:
Advanced Driver Assistance System (ADAS)
Body Electronics
Power Electronics, Infotainment
By Vehicle Type:
Passenger Cars
Light Commercial Vehicles (LCV)
Heavy Commercial Vehicles (HCV)
Electric Vehicle (EV)
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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Some Questions Answered in the Automotive Electronics Market Report:
- What is the projected size of the global Automotive Electronics market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the global Automotive Electronics industry?
- What are the major market trends that are affecting the expansion of the Automotive Electronics market?
- What obstacles must be overcome in order to achieve sustained growth in the Automotive Electronics market?
- What opportunities and threats do vendors in the global Automotive Electronics market face?
- What are the raw materials and manufacturing equipment used in the production of Automotive Electronics, and what is the manufacturing process?
- What are the different types and applications of Automotive Electronics, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Automotive Electronics market?
- What factors are driving the growth of the Automotive Electronics market in the top regions worldwide?
- Who are the major players in the global Automotive Electronics market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Automotive Electronics market?
- What are the main findings of a five forces analysis of the global Automotive Electronics market?
Here are the key highlights of the report:
- Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
- In-depth analysis of the competitive landscape, identifying key trends within the industry.
- Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER’s five forces.
- Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
- Guidance provided for new market entrants, assisting them in navigating the industry landscape.
- Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.
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