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Automotive Electronics Market Share is Projected USD 415.16 billion, with a CAGR of 7.35% by 2030 – Report by Market Research Future (MRFR)

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New York, US, May 04, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Automotive Electronics Market Information by Product Type, Operating Platforms, and Region – Forecast till 2030″, With a CAGR of 7.35 percent between 2022 and 2030, the automotive electronics market can surge from USD 252.70 billion in 2022 to USD 415.16 billion by 2030.

Automotive Electronics Market Overview

Since the invention of motorized vehicles, automotive electronics have been one of the most important segments of the automotive industry. There has been a significant change in the automobile industry from traditional gasoline cars to fully electrified vehicles like electric vehicles (EV) and autonomous vehicles (AV). The electronic systems in cars are dependent on a number of different automotive electronics, including ignition, engine management, telematics, radio, power windows, headlights, and emergency systems, among others. Autonomy, security, safety, and in-vehicle entertainment have all improved as a result of the Internet of Things, AI, and cloud computing’s quick acceptance in the automotive industry.

Market Competitive Landscape:

The affluent firms in the automotive electronics industry are

  • Robert Bosch GmbH (Germany)
  • OMRON Corporation (Japan)
  • Infineon Technologies AG (Germany)
  • HGM Automotive Electronics (US)
  • Hitachi Ltd. (Japan)
  • Delta Electronics Inc. (Taiwan)
  • Atotech (Germany)
  • ZF Friedrichshafen AG (US)
  • Denso Corporation (Japan)
  • Koninklijke Philips N.V. (Netherlands)
  • Among others.

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Automotive Electronics Market COVID 19 Analysis

Global trade, industrial operations, and supply chains for automotive electronics have all been significantly impacted by the COVID-19 epidemic. The number of automotive electronics produced was decreased as a result of the producers being forced by the COVID-19 epidemic to either shut down the plants or operate them at subpar production levels. The lack of raw materials has also hampered manufacturing because of supply disruptions brought on by border and trade restrictions. A select few key market players have continued to operate their plants, nonetheless. Additional factors that have contributed to surplus stocks and lowered output include the weak end-use sector demand and the declining cost of raw materials.

Automotive Electronics Market USP Covered:

Market Drivers:

Over the projected period, demand is anticipated to increase due to the increased integration and deployment of modern safety systems including automatic airbags, parking assistance systems, emergency braking, and lane departure warning to reduce traffic accidents. In addition, technologies including alcohol ignition interlocks, emergency call systems, and accident data recorder systems are being quickly implemented to protect passengers inside vehicles and are anticipated to propel market expansion during the projection period.

Report Scope:

Report Metrics Details
Market Size 2030 2030:     USD 415.16 billion
CAGR during 2022-2030 7.35% CAGR
Base Year 2021
Forecast 2022-2030
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Product Type, Operating Platforms, and Region
Key Market Opportunities Electronic fuel injection Advanced driver assistance
Key Market Dynamics Active safety system Demand for cutting-edge infotainment systems is increasing.

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In order to provide high-performance electronics and energy storage technologies at a reasonable price, the automobile industry is devoting a sizable number of resources to research and development. In order to reach a high level of safety, OEMs are now depending increasingly on electronics. However, the automobile sector is shifting away from hardware-driven cars and toward vehicles that are powered by software.

The market’s growth is impacted by the average amount of electronic and software components per vehicle, which is growing significantly. The need for automotive electronics is being fostered by elements including the integration of IoT and AI into automobiles, the availability of autonomous cars, the desire for in-vehicle safety features, and an increase in the demand for entertainment services.

Market Restraints:

The high manufacturing costs and complicated mechanisms will impede the market’s expansion as the world moves toward the electrification of vehicles. The production facilities in the automobile sector are changing quickly. Vehicle electrification is being pushed forward quickly in the automotive industry. The markets for autonomous vehicles (AV) and electric cars (EV) are expanding globally. The most rapidly expanding automotive systems are the high-tech ones, including infotainment, advanced driving assistance systems (ADAS), and others. Artificial intelligence and the Internet of Things power these systems. 

To better serve their clients with new technology in automobiles, manufacturing companies are pouring a large portion of their financial resources into research. The high price of lithium-ion batteries used in cars, the complicated software they employ, and the significant capital investment needed are eventually driving up the cost of making cars. Additionally, throughout the projected period, market expansion is anticipated to be hampered by the complicated mechanism, a shortage of qualified laborers, expensive replacement and maintenance costs of these systems, and other factors.


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Automotive Electronics Market Segmentation

By Type

The Automotive Electronics Market is divided into many categories, in terms of type: ADAS, Body Electronics, Entertainment, Powertrain, Safety Systems, and Others. The safety systems industry had the largest market share in 2021, with over 29%.  

By Sales

OEM and aftermarket are two segments of the automotive electronics industry, in terms of sales. With a share of almost 68% in 2021, the OEM category had the largest market share. The OEM sector led the automotive electronics market in 2020 as a result of the increased durability and shelf life of electronic components.  

Application Insights

The PV, LCV, HCV, EV, and 2-wheeler applications are included in the Automotive Electronics Market statistics. The passenger car segment now has the largest market share for automotive electronics because of the rise in passenger vehicle sales and production across the world. The sector is growing as a result of the swift uptake of cutting-edge technology by manufacturers, including vehicle infotainment and driver assistance systems. Additionally, the government’s stringent rules on fuel efficiency and the safety of both drivers and passengers are promoting the market growth. Electric cars (EVs) are rapidly growing in popularity. Due to increased fuel pollution and carbon footprints, automakers are being compelled to transition from producing traditional gasoline vehicles to electric ones. It’s projected that this aspect’s market would grow quickly.

Automotive Electronics Market Regional Insights

In 2021, the North American automotive electronics market had a value of USD 103.81 billion, and over the research period, it is anticipated to increase at a considerable CAGR. The enormous volume of motor vehicle manufacturing and the existence of companies like TRW Automotive, Continental Corporation, Robert Bosch GmbH, and Autoliv, Inc. that make automotive electronic components may be the cause of this.


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Due to the region’s large car sales, Asia Pacific accounts for a sizeable portion of the worldwide automotive electronics market. A sizable portion of electronics and automobile manufacturers are found in developing nations like India, China, and Japan. By using cutting-edge technology in their manufacturing facilities in this area, automobile manufacturing businesses intend to boost the amount of their output.

Additionally, it is anticipated that the New Energy Vehicle (NEV) mandate launched by the Ministry of China in 2017 will enhance both the production and demand for electric and autonomous vehicles (AV) in this nation, opening up more opportunities for automakers to integrate cutting-edge technological devices and components in the automotive sector. As a result, the market in this area is expanding due to the rising production volume and quick adoption of technologically upgraded manufacturing facilities.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

First Comprehensive Report on Public Web Data Released by Bright Data

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Reveals necessity in every industry
NEW YORK, April 23, 2024 /PRNewswire/ — Released today, The State of Public Web Data Report 2024, details a comprehensive analysis on how organizations leverage public web data to drive innovation, enhance customer experience, and develop AI models.

Bright Data commissioned an independent third-party to carry out the first survey of this kind which details the emergence of public web data as the most valued data type. Nearly every organization surveyed uses and benefits from public web data through quicker decision-making, boosting revenue, and meeting customer needs.
The need for public web data in AI is clear in all industries, with more than half of respondents using public web data to build AI models for customer service or to meet internal needs such as fraud detection and risk assessment.
Although necessary to build AI machines, 72% of respondents are worried that public web data will no longer be accessible in the next 5 years. The lack of a legal framework to protect this data emerged as a top concern.
Other key insights from the report:
89% of respondents recognize public web data is crucial or very important to the global economy.82% of respondents say public web data is critical to the future of their organization.79% of respondents agree that large organizations and or big tech hide too much of their public web data.88% of respondents believe public web data is critical for the development of AI models.”Our findings reveal a clear consensus among industry leaders: leveraging public web data is key to unlocking growth and fostering innovation,” said Or Lenchner, CEO of Bright Data. “Public web data is not a ‘like to have,’ it’s a ‘must have’ to conduct business and maintain a competitive market. We understand from our own experience with 20,000 customers that once a business realizes the potential of public web data they will look to discover new ways to leverage this tool to lead against the competition.”
About Bright Data: Bright Data is the #1 web data platform. Fortune 500 companies, academic institutions, non-profits, and small businesses rely on Bright Data’s solutions to collect public web data in the most efficient, reliable, and flexible way to make faster, more informed business-critical decisions.
Contacts:[email protected]
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OSIA becomes an official International Telecoms Union (ITU) standard

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ITU Standardization Sector (ITU-T) Recommendation X.1281 – APIs for interoperability of identity management systems
BRUSSELS, April 23, 2024 /PRNewswire/ — The Secure Identity Alliance (SIA) announced today that its OSIA specification, is recognized as international standard by the International Telecommunication Union’s Telecommunication Standardization Sector (ITU-T). This milestone establishes OSIA as official ITU standard (ITU-T Recommendation) for the global infrastructure of information and communication technologies (ICT).

The specification that is now an ITU-T Recommendation is: ITU-T X.1281 – APIs for interoperability of identity management systems.
ITU-T is the standardization arm of ITU, the United Nations specialized agency for ICT. The Secure Identity Alliance specifications were approved as official ITU-T Recommendations by ITU members including 193 countries and the world’s front-running ICT companies on 1st March 2024. The new ITU-T Recommendation is under the responsibility of ITU’s standardization expert group for security, ITU-T Study Group 17.
“We are very proud that the OSIA specification is recognized as an international standard by ITU-T. This milestone demonstrates the maturity of OSIA and its potential to foster interoperability and promote fairness in the identity management systems market,” said Debora Comparin, Chair of the OSIA Initiative.
Prof. Heung Youl Youm, Chairman of ITU-T Study Group 17, said, “The recognition of the OSIA specification as an official ITU-T Recommendation underscores its critical contribution to the advancement of global ICT infrastructure. We are thrilled about the ongoing collaboration between ITU-T SG17 and the SIA, aimed at developing standards for secure identity management.”
“As Editor of the OSIA standard in the ITU-T Study Group 17 Q10, I am pleased to have contributed to this successful recommendation by the ITU,” said Abbie Barbir, Rapporteur for ITU-T’s working group on ‘Identity management and telebiometrics architecture and mechanisms’ (Q10/17). “The collaboration with the SIA continues on OSIA and other structuring initiatives and standards development.”
Engr Abisoye Coker-Odusote, CEO, National Identity Management Commission (NIMC), Nigeria & Chair of the OSIA Advisory Committee, said, “As the Chair of the OSIA Advisory Committee, comprised exclusively of government representatives, we take great pride in our five years of collaboration guiding the working group in the development of the OSIA specification. OSIA establishes equal marketplace conditions, fosters collaboration, and ensures product compatibility post-mergers and acquisitions. The OSIA standardized interfaces drive innovation, enabling new local market models and reducing fraud within multiple ID systems. Additionally, OSIA addresses integrator/vendor lock-in, allowing governments to maintain control over their identity systems and pursue national development agendas seamlessly.”
“The Secure Identity Alliance has always supported standards and its members have contributed to thousands of standards globally, which are now used in the ICT market. Standards are key to unlock the full power of Identity to enable people, economy and society to thrive,” concluded Didier Trutt, Chairman of the SIA.
X.1281 is at publication stage and can be accessed here: https://www.itu.int/ITU-T/workprog/wp_item.aspx?isn=18778
OSIA v6.1.0. twin specification can be accessed here: https://osia.readthedocs.io/en/v6.1.0/index.html 
OSIA qualification programme can be accessed here: https://globalplatform.org/osia-qualification-program/
For more information on the Secure Identity Alliance and the OSIA Initiative, visit http://www.secureidentityalliance.org and www.osia.io
For more information on ITU-T SG 17 visit https://www.itu.int/en/ITU-T/studygroups/2022-2024/17/Pages/default.aspx.
About the Secure Identity Alliance:
Secure Identity Alliance (SIA) is a global non-profit association that serves as the voice for public and private actors and organizations active in the secure identity ecosystem and adjacent industries. SIA’s mission is to unlock the full power of identity so that people, economy, and society thrive. The association supports the development of the activities of its members across four broad pillars: Identity for Good, Outreach, Open Standards Development and Industry Services and Solutions. www.secureidentityalliance.org
About OSIA:
A digital public good, OSIA is an open standard set of interfaces (APIs) that enables seamless connectivity between building blocks of the identity management ecosystem – independent of technology, solution architecture or vendor.  More information at www.osia.io
Follow the Secure Identity Alliance at on X @secureidentity1 and LinkedIn at https://www.linkedin.com/company/secure-identity-alliance/ 
About ITU-T SG 17
The ITU Telecommunication Standardization Sector (ITU-T) is one of the three Sectors (branches) of the International Telecommunication Union (ITU). It is responsible for coordinating standards for telecommunications and Information Communication Technology such as X.509 for cybersecurity, Y.3172 and Y.3173 for machine learning, and H.264/MPEG-4 AVC for video compression, between its Member States, Private Sector Members, and Academia Members.
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SciBase will present at the Redeye Medtech Event on April 24th

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STOCKHOLM, April 23, 2024 /PRNewswire/ — SciBase Holding AB (“SciBase”) (STO: SCIB), a leading developer of augmented intelligence-based solutions for skin disorders will participate at the Redeye Medtech event.

On April 24 at CET 9.50 CEO Pia Renaudin will present the latest developments in SciBase at Redeye. The presentation is live broadcasted and can be followed at https://www.redeye.se/events/974326/redeye-theme-medtech-2 where the replay and the presentations will be available afterwards.
For additional information, please contact:Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected]
Certified Advisor (CA):Vator SecuritiesTel: +46 8 580 065 99Email: [email protected]
About SciBase:
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/scibase/r/scibase-will-present-at-the-redeye-medtech-event-on-april-24-th-,c3966053
The following files are available for download:
https://mb.cision.com/Main/12371/3966053/2751965.pdf
Redeye presentation
 

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