Automotive Electronics Market Size Expected to Rise USD 144.19 billion at CAGR 6.1% by 2026

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Pune, India, March 08, 2023 (GLOBE NEWSWIRE) — The global automotive electronics market size is expected to reach USD 144.19 billion by 2026, exhibiting a CAGR of 6.1% during the forecast period. The market size stood at USD 91.06 billion in 2018. The growing technological advancement in automotive for enhanced safety, entertainment and comfort features will contribute positively to the automotive electronics market growth during the forecast period.

Moreover, the integration of Internet of Things (IoT), artificial intelligence, and cloud computing in automobiles will spur opportunities for the automotive electronics revenue in the forthcoming years, mentioned in a report, titled “Automotive Electronics Market Size, Share & Industry Analysis, By Application Type (Advanced Driver Assistance System [ADAS], Body Electronics, Power Electronics, and Infotainment), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, and Electric Vehicle) and Regional Forecasts, 2019-2026”.

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KEY INDUSTRY DEVELOPMENTS:

In July 2021, Magna International Inc. and Veoneer announced that they had entered a merger agreement under which Magna will acquire Veoneer. The company will be combined with Magna’s ADAS business and its electronics operating units.

Report Highlights:

Market Drivers:

The shift from conventional cars to electric vehicles will subsequently aid the development of the market. The preference towards electric vehicles owing to its capabilities such as high battery life, energy-efficient, advanced electronic systems, zero direct carbon emission. The companies operating in the market are investing vastly in the development of high-end hybrid cars.

The growing government regulations to curb carbon emissions will positively promote the automotive electronics market share. Also, the consumer inclination towards electric vehicles equipped with parking assistance, head-up display, and powerful infotainment system will bolster the healthy growth of the market during the forecast period.

Market Restraints:

High-Price of Electronic Systems to Diminish Business Potential

The high production cost of electric vehicles will simultaneously escalate the overall cost of hybrid cars, which, in turn, will hamper the growth of the market during the forecast period. The rising popularity of electric vehicles (EV) has led to the development of advanced driver assistance systems (ADAS) and infotainment systems. The massive investment in R&D activities by companies along with the high cost of lithium-ion batteries and software used in vehicles will consequently surge the manufacturing cost, thus, leading to costly EVs. Besides, the complexities of electric vehicles and high maintenance and replacement cost will dampen the automotive electronics market trends.

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Report Coverage:

The automotive electronics market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the automotive electronics market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market over recent years.

Segments:

The advanced driver assistance system (ADAS) is also showing significant growth in the automotive industry. The ADAS is designed to assist the driver by providing safety, comfort, efficiency while driving and also improves the driver, passenger, and pedestrian security and safety. ADAS has multiple vital components such as sensors, cameras, radars, and software that requires electricity to function precisely. Autonomous emergency braking, blind-spot detection, park assist, adaptive cruise control, and lane warning departure system are few of the many systems included in ADAS.

Regional Insights:

Presence of Major Automotive Giants to Augment Growth in Europe

Asia Pacific generated a revenue of USD 43.49 in 2018 and is predicted to grow profoundly during the forecast period owing to the flourishing automobile industry. The presence of various automotive manufacturers in India, China and Japan will aid the expansion of the market in Asia Pacific. The rising production capabilities of manufacturing facilities will propel the growth of the market in the forthcoming years. The increasing awareness about the advantages of EVs will contribute positively to the automotive electronics market growth. Europe is predicted to expand radically in the foreseeable future owing to the existence of automobile giants such as Volkswagen, Skoda, Audi, BMW, Daimler. In addition, the rising focus of the European government to curb carbon emissions and ensure safety features in every vehicle will encourage the healthy growth of the market during the forecast period.

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List of Key Players Covered in the Automotive Electronics Market Report:

• Continental AG
• Robert Bosch GmbH
• SONY Corporation
• Aptiv PLC
• Hyundai Mobis
• ZF Friedrichshafen AG
• Autoliv Inc.
• Magna International Inc.
• Aisin Seiki Co. Ltd
• Philips N.V.
• Infineon Technologies AG

Automotive Electronics Market Segmentation:

By Application Type

• Advanced Driver Assistance System (ADAS)
• Body Electronics
• Power Electronics
• Infotainment

By Vehicle Type

• Passenger Cars
• Light Commercial Vehicles (LCV)
• Heavy Commerical Vehicles (HCV)
• Electric Vehicle (EV)

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Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
• 4.1 Merger, Acquisitions, and Partnerships
• 4.2 Distributor Analysis – For Major Players
• 4.3 Growth and Penetration Analysis
• 4.4 Porter’s Five Forces Analysis
• 4.5 PEST Analysis
• 4.6 Vendor Landscape
• Global Automotive Electronics Market Analysis, Insights and Forecast, 2015-2026
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Vehicle Type
• 5.2.1 Passenger Cars
• 5.2.2 Light Commercial Vehicles
• 5.2.3 Heavy Commercial Vehicles
• 5.2.4 Electric Vehicles
• 5.3 Market Analysis, Insights and Forecast – By Application Type
• 5.3.1 Advanced Driver Assistance System (ADAS)
• 5.3.2 Body Electronics
• 5.3.3 Power Electronics
• 5.3.4 Infotainment
  • Market Analysis, Insights and Forecast – By Region
• 5.4.1 North America
• 5.4.2 Europe
• 5.4.3 Asia pacific
• 5.4.4 Rest of the World

Continued…

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