Automotive Electronics Market: Size, Share, Growth, Trends, Forecast 2017 - 2022
Albany, NY -- (SBWIRE) -- 06/11/2018 -- The global automotive electronics market displays intense competition due to the presence of a large of established companies. Going forward, the competition in the market is likely to further intensify with the influx of new participants.
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Majorly fuelling the global automotive electronics market is rising safety considerations among consumers that greatly influence their decision for buying automobiles. Automotive electronics include gadgets and devices that function on electrical systems. Advanced driver assistance, in-car entertainment, electronic fuel injection, airbag, and telematics are some of the areas where automotive electronics are installed to enhance overall efficiency.
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High-end electronics provide navigation, entertainment, and information features that are transmitted over a wireless network. In particular, infotainment systems that are embedded in dashboard hold considerable significance for car buyers. This, however, requires additional storage space for advanced software applications and rich multimedia leading to an explosion in the demand for both volatile and nonvolatile memories.
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Further, with the rising popularity of electric and hybrid vehicles, automotive electronics are likely to gain the attention of automotive electronics manufacturers. Moreover, technological advances such as electrical active suspensions for electric vehicles is anticipated to augment the applications of power electronics in the automotive industry.