Automotive Electronics Market 2018
Automotive Electronics Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Automotive Electronics Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023
Global Automotive Electronics Market Information Report by Application (Advanced Driver Assistance Systems, Safety Systems, Entertainment, Body Electronics and Others), By Vehicle Type (Passenger Cars, Light Commercial Vehicle, and Heavy Commercial Vehicle), and by Region – Global Forecast to 2023
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The global automotive electronics market is expected to grow at a CAGR of 6.56% over the forecast period of 2018-2023, as per a research report published by Market Research Future (MRFR). Growth in the automotive industry is directly translated into increasing demand for automotive electronics. A growing number of vehicle manufacturers are now incorporating electronic sensors and computing capability into vehicles to enhance safety and reduce incidences of accidents. Introduction of car assessment programs which provide safety ratings to cars has also prompted vehicle manufacturers to use automotive electronics to gain good ratings which have helped the market to expand considerably. Need for an enhanced driving experience such as digitalization of dashboards, better sound, and video capabilities is inducing demand for automotive electronics and is driving the market growth. Penetration of advanced technology in the automobile systems is expected to drive the market. Stringent regulatory norms regarding vehicle safety is a crucial driver of the market. Regulations are mandating lane departure warning systems and emergency braking systems and encouraging purchase of five star rated vehicles which are prompting the manufacturers to blend these systems in their vehicle. The future of the automotive electronics market will be shaped by developments made in the Internet of Things which will enable automation and connectivity. Regulations pertaining to emission standards have also prompted the use of electronic gadgets to reduce emission. Hefty investment by key players coupled with the shifting trend of in-vehicle infotainment is other factors which boost the market growth. High maintenance and replacement cost are the restraining factors to the growth of the market.
The global automotive electronics market has been segmented based on type, sales channel, and technology. By type, the market has been segmented into advanced driver assistance systems, Body Electronics, Entertainment, Powertrain, Safety Systems, Others. By the sales channel, the market has been segmented into OEM and Aftermarket. By application, the market has been segmented into passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle, Electric Vehicle, and Two-wheeler.
The key markets of the global automotive electronics market include North America, Europe, Asia Pacific, and Rest of the World. North America dominates the market for automotive electronics owing to strict government regulation and standards pertaining to vehicle safety and increased demand for electric vehicle and infotainment system. Asia Pacific follows North America closely and is expected to exhibit significant growth over the forecast period.
The global automotive electronics market is highly competitive with the presence of a multitude of established players. Many new entrants are keen on entering the market which would intensify the competition in the market. The existing players are investing in R&D for the introduction of new products to sustain their position in the market. Notable players of the market include Robert Bosch GmbH (Germany), Infineon Technologies AG (Germany), Hitachi, Ltd. (Japan), Atotech (Germany), Denso Corporation (Japan), Koninklijke Philips N.V. (Netherlands), OMRON Corporation (Japan), HGM Automotive Electronics (U.S.), Delta Electronics, Inc. (Taiwan), ZF Friedrichshafen AG (U.S.).
- In July 2018, China’s Shenglu Telecommunication Tech entered into a partnership with Shanghai-based Altair Engineering Software, a telecom equipment manufacturer. Both the companies intend to jointly invest in a lab for analyzing 3D full-wave electromagnetic simulation software FEKO, and other Altair developed products. The partnership will improve Shenglu’s core competitiveness in the fields of automotive electronics.
- An automotive engineering conference is scheduled to be held at Istanbul where future automotive trends and latest developments in automotive electronics will be discussed. The conference is being held for the third time and is being jointly organized by the Automotive Industry Association (OSD), the Vehicles Procurement Industrialists Association (TAYSAD), the Association of American Automotive Engineers (SAE) and the Automotive Technology Platform (OTEP).
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