The Automotive Electronics Market Size is expected to grow at a CAGR of 7.35%, projected to be worth USD 415.73 Billion by the end of the Automotive Electronics Market Forecast. The Automotive Electronics Market was valued at USD 233.61 Billion during the historic Automotive Electronics Market Forecast. Automotive electronics are utilized in automobiles to improve the operation of various electronic components that are used to increase vehicle efficiency and run entertainment devices. Various components, such as carputers, engine management, ignition, radio, telematics, and in-car entertainment systems, rely on electronic systems in automobiles directly or indirectly. Electronic fuel injection, sophisticated driving assistance, airbags, and infotainment are all examples of the Automotive Electronics Industry. This has an impact on the vehicle systems' efficiency. The expansion of IoT and AI has transformed the way functionalities in automobiles run, according to automotive electronics industry trends. It has improved ride assistance capabilities and boosted driver communication with the vehicle during the last year. For example, automobiles are equipped with cameras and sensors that aid drivers with car parking and other proximity features, which is predicted to fuel the global growth of the automotive electronics industry.
Automotive electronics are electronic systems that are used in automobiles to improve the effectiveness of in-vehicle entertainment devices and the vehicle itself by enhancing the performance of various electronic parts. Airbags, radio, electronic fuel injection, in-car entertainment systems, sophisticated driver aid systems, and ignition are all examples of automated systems. The global automotive sector has been badly hit by the COVID-19 outbreak. The Automotive Electronics Market Revenue and Automotive Electronics Market Demand is slowing due to supply chain interruptions, large-scale industrial delays, travel restrictions, and dropping light vehicle sales. In addition, the trade war between the United States and China, as well as the present pandemic-related issue in the United States, are harming Automotive Electronics Market Trends.
The key drivers for the Automotive Electronics Industry have increased safety concerns, which are driving demand for active safety systems, and the rising desire for cutting-edge entertainment systems in vehicles. Increased demand for more fuel-efficient automobiles with more entertainment features will open up opportunities for new entrants to the industry. The need for electronics in vehicles will rise as the level of autonomy increases and software manufacturers focus on quality and security. Automobile electronics assist users in safeguarding data and software. Vehicles in the automobile industry are moving away from being hardware-driven and toward becoming software-driven. The average number of software programs and electronics components per vehicle is fast increasing, influencing both the Automotive Electronics Market Size, Automotive Electronics Market Share, and Automotive Electronics Market Growth of the market. Factors such as the adoption of IoT and AI in automobiles, vehicles equipped with automated driving, the desire for in-vehicle safety features, and an increase in demand for entertainment features are boosting the Automotive Electronics Market Demand, according to the automotive electronics market. On the other hand, the Automotive Electronics Market growth is hampered by low acceptance of automotive electronics in newly industrialized countries and an increase in overall end-product costs owing to the integration of automotive electronics. Furthermore, investments in smart grids for autonomous vehicle driving are likely to present a profitable potential for the automotive electronics market.
The key obstacles to the Automotive Electronics Market Revenue are raising worries about the protection of electronic systems from harm and severe government rules surrounding vehicle safety during the Automotive Electronics Market Analysis. The market's expansion will be stifled by high maintenance and replacement costs. The main roadblocks for the business are growing concerns about the safety of electronic devices and stringent government regulations governing vehicle safety. High maintenance and replacement expenses will limit the Automotive Electronics Market Share, Automotive Electronics Market Growth, and Automotive Electronics Market Trends.
Demand for automotive electronics components is predicted to rise as the adoption of hybrid electric vehicles (HEV) and electric vehicles (EV) grows during the Automotive Electronics Market Analysis. Furthermore, replacing mechanical components with electronic components, such as using electronic switches instead of relays, is another way that electronics may meet the diverse needs of the automotive industry while also enhancing reliability and lowering wire harness weight. Over the projected period, technological developments in in-vehicle safety and government legislation aimed at reducing road accidents are expected to enhance demand. Smart autonomous transportation systems for autos are predicted to be built as smart cities are built and the automotive industry advances. Increased investment in the industries is beneficial in terms of expanding market prospects.
The Automotive Electronics market is further bifurcated into various segments depending on various factors to help the market grow as per the predicted CAGR growth by the end of the Automotive Electronics market Forecast period in 2027. The market has been segmented based on the following:
Based on the type, the market is segmented as follows:
Based on the sales channel, the market is segmented as follows:
Based on the application, the market is segmented as follows:
Based on the region, the market is segmented as follows:
During the projected period, North America is expected to lead the market, followed by Asia-Pacific. The growth of the North American market will be aided by strict government laws surrounding car safety. During the projection period, increased demand for electric vehicles and vehicle infotainment systems will boost market revenue. During the projected period, the Asia-Pacific Automotive Electronics market is expected to hold a substantial proportion of the market. The Automotive Electronics market in the Asia-Pacific area is dominated by China, South Korea, and Japan. The Asia-Pacific market's expansion can be attributed to Japan's, South Korea's, and China's high vehicle manufacturing and greater use of modern electronics.
Major firms dominate the automobile power electronics market, which is moderately consolidated. Companies are concentrating their efforts on diversifying their product portfolios and investing in R&D to develop sophisticated products. Companies use a variety of market tactics to grow the market, including product launch, product development, collaboration, partnership, and others. Nvidia has released a simulator that uses cloud computing to test self-driving cars. To evaluate the vehicle's capacity to react, the software may replicate sunlight at sunset, snowstorms, terrible road surfaces, and perilous circumstances.
The major Automotive Electronics Market Key Players are as follows:
Continental announced a Smart City Mobility and Transportation Hub in Auburn Hills, Michigan, as a significant step toward creating safer, smarter communities.
Infineon Technologies has introduced new packages for its OptiMOSTM 5 technology 80 V and 100 V MOSFETs to satisfy the needs of various 48 V applications.
STi2GaN solutions for automotive applications have been introduced by STMicroelectronics. The STi2GaN series includes a monolithic power stage with GaN technology drivers and safeguards, as well as System-in-Package (SiP) solutions for application-specific ICs with extra processing and control circuits.
The study on the Global Automotive Electronics Market includes thorough primary research. The report is made to acquire a better understanding of the market and industry performance, many industry experts and key opinion leaders conduct extensive qualitative and quantitative analyses. It provides a thorough picture of the current market situation, including historical and projected market sizes in terms of value and volume, technical advancements, macroeconomic considerations, and market controlling factors. The research includes detailed information on the strategies of the industry's leading firms, as well as a thorough examination of the various market segments and geographies. The existing and emerging industry trends and dynamics in the global automotive electronics market are thoroughly examined in this study. Semiconductor and electronics market estimations undertake in-depth automotive electronics market study for the key market segments. Following key product positioning and monitoring the main competitors within the market framework allows for a thorough market study. To comprehend the competitive perspective of the global automotive electronics market, key competitors are profiled and their strategies are thoroughly studied.
|Market Size||2030: USD 415.73 Billion|
|CAGR||7.35% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, By End Market, By Application, By Vehicle type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Robert Bosch GmbH (Germany), OMRON Corporation (Japan), Infineon Technologies AG (Germany), HGM Automotive Electronics (U.S.), Hitachi, Ltd. (Japan), Delta Electronics, Inc. (Taiwan). Atotech (Germany), ZF Friedrichshafen AG (U.S.), Denso Corporation (Japan) and Koninklijke Philips N.V. (Netherlands)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The rate at which the market can expand in the years to come.
Automotive Electronics Market is projected to be worth USD 415.73 Billion by 2030.
The well-established companies in the market are Koninklijke Philips N.V. (Netherlands), Delta Electronics, Inc. (Taiwan), Hitachi, Ltd. (Japan), Atotech (Germany), Robert Bosch GmbH (Germany), Infineon Technologies AG (Germany), HGM Automotive Electronics (U.S.), ZF Friedrichshafen AG (U.S.), OMRON Corporation (Japan), Denso Corporation (Japan), and others.
High maintenance cost can be a primary challenge that the worldwide market can face in the years to come.
The key markets for automotive electronics are Europe, North America, Asia Pacific, and the Rest of the World.