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.
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