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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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.
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.
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.
Contact
us
Polaris Market Research
Phone: 1-646-568-9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com
Polaris Market Research
Phone: 1-646-568-9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com
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