Global Automotive Electronics Market to Grow with Rising Popularity of Infotainment Devices in Cars

The demand within the global automotive electronics market is growing as the automobile industry acquires greater sophistication. The advent of new-age technologies in automobile manufacturing has played a vital role in market growth and maturity. The past decade has witnessed the onset of a revolution across the automobile industry. Despite the large number of car variants coming to the fore of the market, each of the vendors have succeeded in retaining a respectable consumer base. The development of nascent electronic technologies that can be embedded in automobiles has played a vital part in causing this revolution. Electronics devices and systems used in the automobile industry have substantially improved the manufacturing standards of the industry. Therefore, the total volume of revenues within the global automotive electronics market is slated to rise.

In this article we look into a multitude of factors responsible for the growth of the global automotive electronics market. The rising demand for trucks, off-road vehicles, and motorcycles that are equipped with electronic technologies shall drive market demand and maturity. Automated ignition technologies have also gained momentum in recent times. Moreover, the need for ensuring optimal utilization of electronics aids in the automobile industry shall also drive market demand. Tractors, excavators, and forklifts are also equipped with electronic technologies in recent times. In light of the factors mentioned above, the revenue index of the global automotive electronics market is projected to improve.

Importance of Connected Cars

The development of connected cars has necessitated the use of the internet of things in cars. The electronic industry manufactures specially enabled devices that can be equipped with high-end cars. Furthermore, automobile manufacturers pay immense attention to the development of new-age technologies that can add value to their offerings. Customers can be wooed into buying cars by adding new features to the automobiles. Over the course of the next decade, the total volume of revenues within the global automotive electronics market is slated to rise. Connected vehicles have caused formidable disruptions in the automobile industry, and have added a dimension of safety and surveillance in cars.

Telematics and Engine Management Devices

The total sales within the global automotive electronics market is slated to rise in the times to follow. The relevance of infotainment devices in cars has created new opportunities for market growth. Furthermore, audio and video streaming in cars has also added greater utility to these cars. The next decade is expected to witness the integration of telematics, engine management devices, and other in-car electronic technologies with automobiles. This factor shall be a gamechanger for the vendors operating in the global automotive electronics market. Ignition technologies and engine management tools are amongst other automotive electronics that have given a thrust to market growth and maturity. In addition to this, the use of radios and computers in cars shall also fetch fresh revenues for vendors operating in the global automotive electronics market.

Relevance of Electric and Hybrid Vehicles

The advent of electric cars and hybrid vehicles has created humongous opportunities for growth within the global automotive electronics market. In contemporary times, voice commands have become an important component of infotainment technologies used in cars. The interactive nature of new technologies used in cars has helped in popularising automotive electronics. This is an important driver of demand within the market in question. Some of the leading vendors operating in the global automotive electronics market are DENSO CORPORATION, Hitachi Automotive Systems, Ltd., Hella Gmbh & Co. Kgaa (Hella), Infineon Technologies AG, and Microchip Technology.

Dr. Ankit has over 5+ years of experience in Market Research and planning work with top fortune 500 clients