Albany, NY -- (SBWIRE) -- 02/16/2016 -- A recent report from Transparency Market Research (TMR), titled "Automotive Electronic Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023," offers the latest insights into the market. According to the report, the global automotive electronic devices market is expected to expand at a CAGR of nearly 3.10% during the forecast period from 2012 to 2018. By the end of 2018, the market is projected to be worth US$18.5 bn.

The global automotive electronic devices market is driven by the rising development in product technologies. Furthermore, the increasing focus on OEM strategies globally will also drive the global automotive electronic devices market. Factors such as stringent regulations will also impact the global automotive electronic devices market. In addition to this, the increasing demand from emerging markets in Asia Pacific and Latin America is also projected to be a key driver of the global automotive electronic devices market. Moreover, the rising disposable income levels, growing infrastructure, and increasing urbanization in developing countries are driving the demand for vehicles that come equipped with advanced features and enhanced safety.

The expanding automotive sector and ongoing innovation have transformed the driving experience for consumers significantly. Present-day cars are equipped with a wide range of advanced gadgets, such as GPS systems and entertainment systems. According to the report, electronic components in vehicles account for over 30% of the production cost and this figure is projected to rise even further.

Broadly, the global automotive electronic devices market is segmented on the basis of product type, technology, and geography. Product-wise, the global automotive electronic devices market is divided into entertainment systems, control devices, GPS systems, video devices, and others. An emerging trend noticed in the global automotive electronic devices market is the integration of multiple systems into one. This raises the scope for multiple installations, design variations, and cost optimization.

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Region-wise, the global automotive electronic devices market is classified into North America, Asia Pacific, Europe, and Rest of the World (RoW). Currently, North America is leading the global automotive electronic devices market. However, this regional market is projected to demonstrate subdued growth in the coming few years. Furthermore, growth of the automotive electronic devices market in Europe will also be subdued, due to the debt crisis, in spite of the longstanding presence in Europe of several global automotive giants. On the contrary, the automotive industry has been more resilient in the emerging markets of Asia Pacific and is expected to enjoy steady growth in the foreseeable future.

This shift in regional market dynamics has been influenced significantly by the strategies of key players operating in the global automotive electronic devices market. These companies are presently focusing on the emerging economies of Latin America and Asia Pacific. Some of the leading companies operating in the global automotive electronic devices market are Yamaha, Denon, Sanyo, Delphi, Sony, Antex, and Philips.

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