Automotive Electronics Market Scope
Electronics have recently been incorporated on new automotive subsystems and have become standard implementation on many others. Such features as antilock braking systems and airbags could only be achieved practically through the use of electronics. These features are rapidly becoming standard features owing to strong pressures in the highly competitive automotive market. Electronic systems function to control, measure, or communicate. Automotive electronics enhances the engine control and provides higher safety, security and comfort in a vehicle.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Magna International (Canada), Continental AG (Germany), Bosch Group (Germany), Altera Corporation (United States), Infineon Technologies (Germany), Lear Corporation (United States), Delphi Automotive (Ireland), Hitachi Automotive Systems (Japan), Texas Instruments (United States), ZF Friedrichshafen AG (Germany), Voxx International Corporation (United States) and Hyundai Mobis (South Korea) |
CAGR | % |
The OEMs are investing heavily in Research and Development to develop high-performance products at reasonable cost and are focusing more on energy storage technology. The Manufacturers are also focusing on product innovation, such as reducing vehicle weight by substituting light weight components. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. Research Analyst at AMA estimates that German and United States Vendors will contribute to the maximum growth of Global Automotive Electronics market throughout the predicted period.
Magna International (Canada), Continental AG (Germany), Bosch Group (Germany), Altera Corporation (United States), Infineon Technologies (Germany), Lear Corporation (United States), Delphi Automotive (Ireland), Hitachi Automotive Systems (Japan), Texas Instruments (United States), ZF Friedrichshafen AG (Germany), Voxx International Corporation (United States) and Hyundai Mobis (South Korea) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Aisin Seiki (Japan), China TSP (China) and DIAS Automotive Electronic Systems (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Automotive Electronics market by Type , by Application (Passenger Cars [Compact, Luxury, Mid-Sized, Premium] and Commercial Vehicle [Light, Heavy]) and Region with country level break-up.
On the basis of geography, the market of Automotive Electronics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In Jan 4, 2019: Delphi Technologies collaborates with TomTom on Intelligent Driving. The two companies will collaborate on electronic and software applications designed to further optimize vehicle fuel efficiency and emissions through the use of real-time mapping data.
In IApril 17, 2019: Lear Corporation Completes Acquisition of Xevo, a Leader in Connected Car Software and Data-Driven User Experiences. The acquisition of Xevo will enhance Lear's capabilities in software, services, and data analytics and strengthen its market position in connectivity.
Influencing Trend:
Developments in Vehicle Design and Growing Penetration of Electric Vehicles and Hybrid Electric Vehicles
Market Growth Drivers:
Increasing Awareness about Safety Features in Modern Vehicles and Demand For In-Car Infotainment Systems
Challenges:
High Cost of Automotive Electronics
Restraints:
Lack of Understanding Regarding Interplay of Subsystems
Opportunities:
Advanced and Digitized Technologies in Automobile Industry and Adoption of High-Volume Mainstream Implementations
Key Target Audience
Manufacturers of Automotive Electronics, Suppliers of Automotive Electronics, Wholesalers, Distributors and Retailers of Automotive Electronics, Industry Association, Automotive Industry and Governmental Bodies