Automotive Electronics Market Competitive Landscape 2024-2033

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Mar 12, 2020: The global Automotive Electronics market size is expected to reach USD 493.69 billion by 2027, expanding at a CAGR of 9.0% over the forecast period, according to a study conducted by Radiant Insights, Inc. Increasing automotive production across emerging economies, coupled with the growing demand for luxury and hybrid vehicles is anticipated to drive the growth.

Additionally, the availability of advanced safety systems with features such as automatic emergency braking, and blind-spot detection at a reduced cost is leading to an increase in the integration of these systems.

For instance, the New Car Assessment Program mandates the use of advanced active and passive safety systems, such as automatic emergency braking and lane departure warning, in China, U.S., and Europe.

The Indian government also allows the use of certain low-frequency bands that can help automotive manufacturers to use radar-based systems for installing ADAS features in vehicles.

Hence, it resulted in an increase of over 2.5% in the Original Equipment Manufacturer (OEM) segment share between 2019 and 2027.

However, such consolidation requires high-speed data processing controllers such as 64-bit ECU’s and integration of other advanced hardware and software, which is expected to drive the overall market growth from over the forecast period.Asia Pacific held a dominant market share in 2019, attributed to the significant investments in the automotive industry, mainly in emerging countries, such as Japan, India, and China.

Allied Market Research published a report, titled, "Automotive Electronics Market by Vehicle Type (Passenger Car, LCV and HCV), Component (Sensors, Actuators, Processors, Microcontrollers, and Other), Application (ADAS, Infotainment, Body Electronics, Safety System, Power Train and Others), and Distribution Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2019–2026.

" According to the report, the global automotive electronics market accounted for $228.34 billion in 2019, and is estimated to reach $382.16 billion by 2026, growing at a CAGR of 7.3% from 2019 to 2026.Prime determinants of growthAdoption of IoT and AI in the automobiles, increase in demand for in-vehicle safety feature, and surge in vehicles equipped with automated driving propel the growth of the global automotive electronics market.

On the other hand, investment toward autonomous driving of vehicles in smart grids provides new opportunities to the industry.Download Sample of the Report: https://www.alliedmarketresearch.com/request-sample/6401The passenger car segment to dominate throughout the forecast periodBased on type, the passenger car segment accounted for nearly two-fifths of the total share of the global automotive electronics market in 2019, and is estimated to continue to dominate throughout the forecast period.

The electronic installation in HCV for driver assistance and safety offers lucrative growth to the segment.The microcontrollers segment estimated to maintain its leadership status by 2026Based on components, the microcontrollers segment accounted for the largest share of the global automotive electronics market, contributing to more than one-fourth of the total market in 2019, and is estimated to maintain its leadership status throughout the forecast period.

The increase in demand for smart electronics in automotive leads the growth of the segment.

However, the processors segment is expected to register the highest CAGR of 8.6% from 2019 to 2026.

Global Automotive Electronics Market Research Report: Information by Type (ADAS, Body Electronics, Entertainment, Powertrain, Safety Systems, Others), Sales (OEM and Aftermarket), Application (PV, LCV, HCV, EV, 2-wheeler) and Region - Forecast till 2023Market OverviewElectronics used in automobiles to perform various functions like power windows, lighting, infotainment, and others are known as automotive electronics.

The companies have come up with the internet of things (IoT), and artificial intelligence (AI) empowered systems, which increase user comfort and get a good response from around the world.

The automotive industry is developing at lightning speeds globally, which has provided significant growth to this market.The rise in demand for better safety features and efficient vehicles has further boosted this market and is driving it at a faster pace.

For developing next-generation technologies, the companies are investing in research; development programs that have opened the new gates for this market.Get Free Sample @ https://www.marketresearchfuture.com/sample_request/4191Apart from its uses and features, the global automotive electronics market is facing severe challenges against the high overall costs and introduction of regulations for enhancing road safety, which has considerably contained the market growth.

The global market is anticipated to register approximately a 08 % annual growth during this period.Key PlayersOMRON Corporation (Japan), Robert Bosch GmbH (Germany), HGM Automotive Electronics (U.S.), Infineon Technologies AG (Germany), Delta Electronics, Inc.

(Taiwan)., Hitachi, Ltd. (Japan), ZF Friedrichshafen AG (U.S.), Atotech (Germany), Koninklijke Philips N.V. (Netherlands), and Denso Corporation (Japan) are major players of the global automotive electronics market.

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