Automotive Electronics Market Growth, Competitive Dynamics, Size, Challenges and Global Outlook till 2023

Automotive Electronics Market : Synopsis

Global Automotive Electronics Market Growth is marked to exhibit notable expansion at a CAGR of 6.56% during the assessment period of 2018-2023. Rise in demand for advanced electronics in passenger as well as commercial vehicles to assist the drivers for performing various functions that are vital for safe driving experience is majorly propelling the growth of the global Automotive Electronics Market Growth. 

Segmental Analysis

The global market for automotive electronics has been segmented on the basis of type, sales channel, and application. Based on type, the global market for automotive electronics has been segmented into body electronics, advanced driver assistance systems, entertainment, safety systems, powertrain, and others. Based on sales channel, the global market for automotive electronics has been segmented into OEM and aftermarket. Based on application, the global market for automotive electronics has been segmented into passenger cars, heavy commercial vehicle, light commercial vehicle, electric vehicle, and two-wheeler.

Regional Analysis

Geographically, the globalAutomotive Electronics Market Growth has been segmented into four major regions such as Asia Pacific (APAC), North America, Europe, and the rest of the world. The North America region commands the major share of the global Automotive Electronics Market Growth during the assessment period owing to the rapid adoption of technologically advanced automobiles, increased demand for automobiles equipped with technologically advanced electronic components, increased sales of automobiles due to increased disposable income, and increasing availability of affordable automobiles equipped with advanced electronics in this region.

Rise in incorporation of artificial intelligence, and machine learning technologies in passenger, as well as commercial vehicles and high demand for electric vehicles, are propelling the expansion of the Automotive Electronics Market Growth in the Europe region. High rate of production of passenger vehicles that are equipped with advanced electronics owing to the increased disposable income and changing lifestyle of the urban population and rise in adoption of electric vehicles that are equipped with advanced infotainment systems are contributing to the growth of the Automotive Electronics Market Growth in the Asia Pacific region.

Key Players

The key players profiled by Market Research Future (MRFR) that are operating in the global Automotive Electronics Market Growth are Robert Bosch GmbH (Germany), OMRON Corporation (Japan), Delta Electronics, Inc. (Taiwan), Infineon Technologies AG (Germany), HGM Automotive Electronics (the U.S.), ZF Friedrichshafen AG (the U.S.), Hitachi, Ltd. (Japan), Atotech (Germany), Denso Corporation (Japan) and Koninklijke Philips N.V. (Netherlands).

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