Automotive Electronics Market 2019 World Analysis and Forecast To 2023

The detailed report published by Market Research Future (MRFR) projects that the global automotive electronics market 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. Increased vehicle manufacturing in order to fulfill the rapidly increasing global demand for technologically advanced vehicles and rise in popularity of infotainment and entertainment systems in passenger vehicles are contributing to the growth of the global automotive electronics market. Rapid increase in the incidences of road accidents is inducing high demand for advanced automotive electronics that include sensors, head-up displays, and others, which in turn is leading to the expansion of the global automotive electronics market.

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Global Automotive Electronics Market: 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.

Global Automotive Electronics Market: Regional Analysis

Geographically, the global automotive electronics market 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 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 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 in the Asia Pacific region.

Global Automotive Electronics Market: Industry Updates

In January 2019, it has been announced by Qualcomm that is launching its latest line of chips that are targeting the car's central console, allowing the drivers to download driving direction by using voice commands.

In January 2019, it has been announced by Sinclair Broadcast Group (SBGI) and SK Telecom that they have signed a MOU (Memorandum of Understanding) with Harman for the development and commercialization of automotive electronics technology that is based on digital broadcasting network.

In January 2019, Taiwan's notebook ODM, Inventec, has announced the deployment of its new segment of automotive electronics in the year 2019.

Global Automotive Electronics Market: Key Players

The key players profiled by Market Research Future (MRFR) that are operating in the global automotive electronics market 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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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR) and Mar