Automotive electronics comprise devices or equipment capable of enhancing the performance of cars. Some of them are carputers, telematics, in-car entertainment systems, and radio. Similar systems are being used in hybrid and electric vehicles. The global Automotive Electronics Market Size is predicted to expand at 6.56% CAGR from 2020 to 2027 (forecast period), according to Market Research Future (MRFR).
Market Prospects
The global Automotive Electronics Market Size is expected a massive surge in growth due to demand for infotainment and advanced electronic systems. Need for systems which can provide a safe and comfortable driving experience is likely to culminate in high market demand. This is buttressed by the spike in production rate of commercial and passenger vehicles which can induce the need for electronic systems.
Innovation in terms of device design and functionality has led to massive changes in the market. The transition to autonomy has led to the development of software applications which can work on the basis of haptic switches or interfaces. In 2016, Nanyang Technological University and Volvo partnered for testing the very first self-driving electric bus. The bus is integrated with light detection and ranging (LiDAR) sensors, stereovision cameras, and global positioning system (GPS) antennas for getting a better perspective of the surroundings.
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Guidelines mandating the integration of advanced features such as lane departure warning (LDW) and automatic emergency braking (AEB) in Europe and China can push the market demand to new heights. But concerns of protection of electronic systems and safety of passengers and drivers can pose a challenge to the market.
Segmentation
The Automotive Electronics Market Size is segmented by sales channel, type, and application.
By sales channel, it is segmented into aftermarket and original equipment manufacturer (OEM).
By type, it is segmented into advanced driver assistance systems, powertrain, safety systems, body electronics, entertainment, and others.
By application, it is segmented into two wheeler, electric vehicle, heavy commercial vehicle, light commercial vehicle, and passenger cars.
Regional Analysis
The North America region is expected to lead the market followed by APAC. High demand for electric vehicles combined with the latest infotainment systems can widen the scope of the Automotive Electronics Market Size in the region. Government policies outlining driver and passenger safety can spur market demand.
The European Automotive Electronics Market Size is driven by incorporation of machine learning and artificial intelligence in commercial and passenger vehicles. High production of electric vehicles combined with renewable energy targets of countries outlining emission guidelines can push the potential for growth.
The APAC region is set to exhibit an explosive growth rate owing to changing lifestyle of consumers and high expendable income levels. Lack of manufacturers in the region makes the region ripe for investment by private players. Investments by the automotive sector in India, Japan, and China can further the market growth till 2027.
Competitive Landscape
Vendors include Denso Corporation, Koninklijke Philips N.V., Atotech, ZF Friedrichshafen AG, Delta Electronics, Inc., HGM Automotive Electronics, OMRON Corporation, Robert Bosch GmbH, Infineon Technologies AG, and Hitachi, Ltd. The players are indulging in product launches, mergers acquisitions, and partnerships to sustain their position in the intense market.
Industry News
In 2019, Telechips partnered with Imagination Technologies for virtualizing the hardware which normally occupy space in cars. The PowerVR system architecture, a proprietary system devised by Imagination can ensure reliability and quality of service of all components which need to be powered by the GPU.
CK, a prominent manufacturer of switches, has launched its latest offering, KSC XA, which has primary use in automotive interior and opening applications.
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Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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