New York, NY 20 Nov
2019 : The Global
Automotive Electronics Market is anticipated to reach
around USD 490.6 billion by 2026 according to a new research published by
Polaris Market Research. In 2017, the passenger vehicles dominated the global
market, in terms of revenue. In 2017, Asia-Pacific accounted for the majority
share in the global Automotive Electronics market.
The increasing demand
for passenger cars, and growing penetration of electric and hybrid vehicles
majorly drives the market growth. The growing need to improve road safety, and
introduction of stringent regulations to enhance vehicular safety and control
emissions has accelerated the growth of the automotive electronics market. The
development of autonomous vehicles along with growing demand for luxury and
comfortable driving experience supports the growth of the market. Other factors
driving the market growth include growing disposable income, technological advancements,
and changing lifestyles. New emerging markets, and emerging consumer
demographics would provide growth opportunities for automotive electronics
market in the coming years.
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In 2017, Asia-Pacific accounted for the highest share in the global automotive
electronics market. The introduction of stringent
government regulations regarding vehicular safety and growing penetration of
electric and hybrid vehicles accelerates the adoption of automotive electronics
in the region. The strong growth in the automotive industry, technological
advancements, and high investment in R&D are factors expected to drive the
market growth in the region. The economic growth in countries such as China,
Japan, and India, rising living standards and growing disposable income further
increases the demand of automobiles in the region. Expansion of global players
into these countries to tap market potential boosts the market growth.
The global Automotive Electronics market is segmented on the basis
of application, vehicle type, sales channel, and geography. Based on
application, the market is segmented into Powertrain, ADAS, Safety Systems,
Infotainment, Body Electronics, and others. The sales channel segment is
categorized into OEM, and aftermarket. OEM accounted for the dominant share in
the global automotive electronics market in 2017. The vehicle types in the
global automotive electronics market include passenger vehicles, and commercial
vehicles.
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requirements? Ask our industry experts: https://www.polarismarketresearch.com/industry-analysis/automotive-electronics-market/speak-to-analyst
The well-known companies profiled in the report include Bosch Group, Atmel Corporation, Delphi Automotive, Hitachi
Automotive, Texas Instruments, Infineon Technologies, ZF Friedrichshafen AG, ON
Semiconductor Corp., OMRON Corporation., and STMicroelectronics N.V. These
companies launch new products and collaborate with other market leaders to
innovate and launch new products to meet the increasing needs and requirements
of consumers.
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