Automotive electronics refer to electronic-operated systems that are generally equipped in automobiles. They are specially designed electronics intended for vehicle utilization that are considered to be essential components in automotive architecture. Some of the commonly used automotive electronics include engine and transmission electronics and passive safety, driver assistance, and entertainment systems. They aid in assisting drivers during blind spot detection and emergency braking while enabling driving assistance functions and gasoline, engine and tire pressure monitoring for an enhanced driving experience.
Automotive Electronics Market Growth:
The latest report published by IMARC Group, titled “Automotive Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the automotive electronics market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global automotive electronics market reached a value of US$ 272.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 415.6 Billion by 2027, exhibiting at a CAGR of 7.1% during 2022-2027.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global Automotive Electronics Market Trends:
The global market is primarily driven by the rising adoption of automobiles among the masses. Along with this, the inflating disposable income levels, the shifting lifestyle preferences of individuals and the escalating need for enhanced comfort and safety to reduce the occurrence of road accidents are propelling the product demand across the globe. Moreover, continual technological advancements in the automotive sector are creating a positive market outlook. For instance, the widespread integration of artificial intelligence (AI) and machine learning (ML) for improving safety features is favorably impacting the market growth. Click here for more information https://thedailytribute.com/
Additionally, numerous leading players are heavily investing in launching autonomous or self-driving vehicles in order to transform the transportation system while minimizing the need for human drivers, thereby contributing to the uptake of automotive electronics. Other factors, including continuous improvements in the automotive sector, the increasing demand for in-car infotainment systems, and extensive research and development (R&D) activities conducted by key players, are also favorably influencing the market.
Global Automotive Electronics Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
- OMRON CORP(OMRNY)
- Robert Bosch GmbH
- Infineon Technologies AG
- HGM Automotive Electronics
- Hitachi, Ltd.
- Delta Electronics, Inc.
- Atotech Deutschland GmbH
- TRW Automotive
- Continental AG
- Bosch Group
- Altera Corporation
- Lear Corporation
- Texas Instruments
- Atmel Corporation
- Altera Corporation
- Denso Corporation.
Market Breakup by Component:
- Electronic Control Unit
- Current Carrying Devices
Market Breakup by Vehicle Type:
- Light Commercial Vehicles
- Passenger Vehicles
- Heavy Commercial Vehicles
Market Breakup by Distribution Channel:
Market Breakup by Application:
- Body Electronics
- Safety Systems
Market Breakup by Region:
- Asia Pacific
- North America
- The Middle East and Africa
- Latin America
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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