Automotive Electronics Market: By Global Industry Analysis, Size, Share, Growth, Trends, Forecast 2022
Albany, NY -- (SBWIRE) -- 06/29/2018 -- Global Automotive Electronics Market: Snapshot
The global automotive electronics market is a competitive one with the presence of a multitude of established players, and the influx of new participants is likely to intensify the competition. Existing players are pouring money into research and development to introduce newer products that will help them sustain the competition.
Key Growth Drivers
Majorly fuelling the global automotive electronics market are rising safety considerations, demand for high-end electronics for navigation, information, and entertainment, and the rising popularity of electric and hybrid vehicles due to environmental considerations.
As per a report by Transparency Market Research, the global automotive electronics market will likely clock a CAGR of 7.4% for the forecast period between 2017 and 2022. At this rate, the market which is estimated to be worth US$3,530.7 mn in 2017 will further rise to be valued at US$5,048.9 mn by 2022-end.
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Mid-sized Passenger Car Vehicle Type to Remain Attractive though 2022
The worldwide market for automotive electronics has been studied on the basis of a few parameters in this report. By vehicle type, the segments into which the automotive electronics market could be divided are compact passenger cars, mid-sized passenger cars, luxury passenger cars, light commercial vehicles, premium passenger cars, and heavy commercial vehicles.
Amongst all, mid-sized passenger car represents the leading segment vis-à-vis revenue. The mid-sized passenger car segment is expected to be worth US$923.3 mn in 2017 to represent 26.2% of the market in the same year. Progressing at a CAGR of 6.8% between 2017 and 2022, the segment is likely to represent 25.4% of the market by 2022 to account for a revenue contribution of US$1,282.3 mn by the end of the forecast period.
The mid-sized passenger car vehicle segment is predicted to exhibit year on year absolute growth of US$71.8 mn over the course of the forecast period, which is larger amongst all vehicle type segments
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Sales channel segments
Sales channel segments of the global automotive electronics market include OEM and aftermarket. According to application classification, advanced driver assistance systems, body electronics, entertainment, powertrain, and safety systems are the segments that divide the automotive electronics market in this report.
According to application classification, advanced driver assistance systems, body electronics, entertainment, powertrain, and safety systems are the segments into which the worldwide automotive electronics market is divided in this report.
Regional Analysis: Economic Recovery Boosts Europe Automotive Electronics Market
Geography-wise, the report takes stock of potential of the worldwide automotive electronics market in the regions of North America, Latin America, Asia Pacific except Japan, Japan, Europe, and the Middle East and Africa.
Europe, among all, is expected to lead the overall market in terms of revenue in 2017, and the trend is anticipated to continue over the forecast period. The Europe automotive electronics market is predicted to be worth US$1,265.8 mn by 2022-end expanding at 6.5% CAGR between 2017 and 2022.
North America is a key market for automotive electronics. The region is projected to display the leading 8% CAGR between 2017 and 2022 to attain a value of US$1,159.3 mn by the end of the forecast period.
Asia Pacific except Japan is anticipated to rise at a CAGR of 7.6% over the forecast period to become worth US$1,256.8 mn by 2022 end.
The country of Japan is anticipated to be worth US$259.1 mn by 2022. On the other hand, the Middle East and Africa automotive electronics market is expected to contribute a meagre 9.8% revenue to the overall market by the end of 2017. Going ahead, the region is anticipated to lose 10 basis point (BPS) in its market share between 2017 and 2022.
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Prominent participants in the global automotive electronics market include Infineon Technologies AG, ON Semiconductor Corp., ST Microelectronics N.V., Maxim Integrated Products Inc., NXP Semiconductor NV, OMRON Corporation, Robert Bosch GmbH, Hitachi Ltd., ZF Friedrichshafen AG, Texas Instruments Inc., ON Semiconductor Corp., and N.V.