How Big is the Automotive Electronics Market ? :
According to the latest report by IMARC Group, titled “Automotive Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the automotive electronics market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. the global automotive electronics market size reached US$ 301.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 452.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.
What is Automotive Electronics ? :
Automotive electronics refers to the electronic systems deployed in vehicles for a variety of functions such as engine control, infotainment, safety systems, and navigation. As vehicles have evolved into complex systems amalgamating mechanical components and electronic circuits, automotive electronics have become crucial for enhancing performance, safety, and user experience. This category encompasses a broad range of electronic devices and systems, from basic control mechanisms to advanced, intelligent, and connected technologies. Given the increasing consumer demand for enhanced driving experiences, automotive electronics have also become significant differentiators in vehicle offerings. They provide a technological foundation for innovations like advanced driver-assistance systems (ADAS), electric and hybrid vehicles, and autonomous driving capabilities.
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Competitive Landscape with Key Players:
- OMRON CORP(OMRNY)
- Robert Bosch GmbH
- Infineon Technologies AG
- HGM Automotive Electronics
- Hitachi, Ltd.
- Delta Electronics, Inc.
- Atotech Deutschland GmbH
- TRW Automotive
- Continental AG
- Bosch Group
- Altera Corporation
- Lear Corporation
- Aptiv
- Texas Instruments
- Atmel Corporation
- Altera Corporation
- Denso Corporation
Industry Demand:
The global market is driven by the rise in consumer demand for connectivity and infotainment. Also, the acceleration toward electric and autonomous vehicles, which are inherently reliant on sophisticated electronic systems is driving the market further. Another contributing factor is the advancement in semiconductor technology, enabling more compact and energy-efficient electronic components. As vehicles become more interconnected, there’s a growing need for cybersecurity solutions in automotive electronics to protect against potential threats, creating an additional sub-sector within this market. Supply chain advancements are equally pivotal; with the globalization of the automotive industry, the role of electronics has grown not just in complexity but also in its geographic footprint, demanding highly efficient logistics and supply chain strategies.
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Key Market Segmentation:
Breakup by Component:
- Electronic Control Unit
- Sensors
- Current Carrying Devices
- Others
Breakup by Vehicle Type:
- Light Commercial Vehicles
- Passenger Vehicles
- Heavy Commercial Vehicles
- Others
Breakup by Distribution Channel:
- OEM
- Aftermarket
Breakup by Application:
- ADAS
- Infotainment
- Body Electronics
- Safety Systems
- Powertrain
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscap
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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