The Global Automotive Electronics Market size is expected to hit around US$ 640.56 Billion by 2030, with a CAGR of 7.64%, as per reports.
The Global Automotive Electronics Market size was accounted for US$ 255.98 billion in 2020, as per a research analyst. Automotive electronics are designed electronics dedicated to utilizing in automobiles. Automotive electronics are systems employed in vehicles such as ignition, engine management, radio, computers, in-car entertainment systems, and telematics among others.
Engine, transmission and ignition electronics are also found in motorcycles, trucks, off-road vehicles, and other internal combustion-powered machinery including tractors, excavators and forklifts. Associated elements for control of pertinent electrical systems are also observed in electric cars and hybrid vehicles.
There are diverse electronic systems are utilized in automobiles for operations such as enhancing the driving act, well-being of the drivers and rider and fuel effectiveness. Automotive electronics can be subjected to more extensive temperature ranges in comparison with commercial electronics.
The majority of the electrical devices are produced in numerous temperature grades and individual manufacturer define their particular temperature rating. Snowballing speed of revolution in electronics for the automotive sector will offer a path for users to better exploit their time in transit to relish novel services. As a result, consumers will have more time to capitalize on personal activities and thus an electronically smart car will always demand improved features.
Growth Factors
Automotive electronics technologies like all-electric cars, autonomous driving, and in-car infotainment are the new-fangled trends in the automotive sector. Automotive vehicles are renovating into definitive electronic devices. Automotive electronics are foretold to occupy near a 3rd of the total price of the whole car. The automotive renovations offer escalation to new features and encounters such as all-electric cars and autonomous driving with extremely high power, and secure communications, high-speed and infotainment among others.
The future of cars is about sharing, autonomous driving, electric power, and links to external networks (i.e. vehicle-to-everything/ V2X) and automotive electronics will be leveraged for all 4 of these segments. Rising automotive electronics acceptance to offer safety features like emergency call systems, alcohol ignition interlocks, and calamity data recorder systems are anticipated to boost the growth of the market. Cumulative acceptance by OEMs on high-volume traditional executions is also expected to amend the governing framework.
However, on account of COVID-19, most of the nations obeyed a complete lockdown that has impacted vehicle production across the world. Manufacturing units have been closed; thus, sales of vehicles have dropped and impacted production on a global level. Though few OEMs have restarted production; the drive by wire market may perceive a noteworthy decline in 2020. Though the COVID-19 outbreak disturbed the ICE vehicle production, numerous automakers are still concentrating on expansions in numerous drives by wire systems.
Report Highlights
- The Asia Pacific anticipated constituting a prime share in the global automotive electronics market in terms of revenue throughout the assessment period
- Accident data recorder system, alcohol ignition interlock, and emergency call system are achieving attention that drives the demand for advanced electronic in the automotive sector
- Advanced driver-assistance systems or ADAS application segment of the market is predicted to grow at the fastest rate during years to come due to numerous steps undertaken by the governments to augment the security and safety of drivers along with the vehicles.
Regional Snapshots
The rapidly rising automotive sector in the region due to varying living standards and cumulative purchasing power of users is expected to flourish revenue growth of the automotive electronics market in the Asia Pacific during the forecast period. Furthermore, increasing automotive aftermarket is anticipated to subsidize revenue development of the automotive electronics market in APAC. China occupied over 28% of global motor production. It was the front-runner in passenger car sales and production with 23.7 million and 23.5 million correspondingly, in 2018.
North America is predicted to develop at a considerable CAGR throughout the estimated period. The U.S. is expected to govern the regional market due to the occurrence of crucial manufacturers including ZF Friedrichshafen AG, Continental AG, Autoliv, Inc, and Robert Bosch GmbH and others.
Key Players & Strategies
Competitive pressure and consumer demand have forced manufacturers to manufacture better intelligence in trucks, automobiles and other highway vehicles. For instance, the Chevy Volt employs around 100 microprocessors running around 10 million lines of code in whole, which places the Chevy Volt’s software content overhead the present generation of jet fighters and original space shuttle i.e., Boeing 787 Dreamliner. The majority of automotive design is progressively dependent on more sophisticated electronic systems.
The major Players are:
– Bosch
– Continental AG
– ZF Friedrichshafen
– Delphi
– TRW
– Denso and more.
