Automotive Electronics Market: Size, Share, Growth, Trends, and Forecast 2018-2024
Sarasota, FL -- (SBWIRE) -- 06/25/2018 -- Automotive Electronics Market: Overview
Automotive electronics comprises of electrically operated systems deployed in vehicles. Electronic fuel injection, airbag, advanced driver assistance and infotainment are some of the areas where automotive electronic systems are primarily used in order to increase the overall efficiency of the combined system. Several upcoming governmental regulations regarding vehicles, passengers as well as pedestrian safety have encouraged the automobile manufacturers to include the authorized features as a default offering. The upcoming technology in field of automotive market is all about electric cars which rely on powerful computer systems, an array of sensors, networking, and satellite navigation, all of which will require electronics, which in turn will help the global automotive electronics market to grow during the forecasted period.
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Automotive Electronics Market: Growth Factor
Increasing safety concerns of driver as well as passengers are leading for development of advanced safety systems which is the primarily reason to drive the global automotive electronics market. Technological advancement in automotive fields such as power trains, parking assistance, and electrical suspensions are most likely to spur the growth of the global automotive electronics market. The increasing consumer demand along with increasing environmental sustainability plus rising demand of cutting edge infotainment systems will increase the demand for complex electronics systems thereby driving the global automotive electronics market. The increasing consumer demand for safety, connectivity and infotainment in the vehicle is one of the key factors propelling the growth prospects for this market in the coming years.
Automotive Electronics Market: Segmentation
The global automotive electronic market is segmented on the basis of product type and vehicle type. Based on product type the global automotive electronic market is divided into control devices, advanced driver assistance systems, entertainment systems, GPS systems and video devices. Among the product types, entertainment systems are mostly used in automobile industry and development in signal processing algorithms and sensor technology has shown a rapid growth of the ADAS market. As increasing safety standards are concerned ADAS segment is expected to be the fastest growing segment over the forecast period. On the basis of vehicle type the market is further classified into Light Commercial Vehicles, Passenger Vehicles, and Heavy Commercial Vehicles
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Automotive Electronics Market: Regional Analysis
Geographically, the global automotive electronics market is divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America holds the largest market share for automotive electronic market due to increasingly strict safety regulations in the region. The new car assessment program (NCAP) of U.S has made it compulsory to install lane departure warning systems and emergency braking systems to guarantee a five-star rating for passenger cars and thereby increasing the demand for automotive electronics market growth in this region. European market is also expected to show a substantial growth during the forecasted period as changing the emission norms and engine downsizing in European countries has helped to grow the market. Asia Pacific region is expected to witness a surge in automobile electronics market due to growing demand for tailored features in vehicles and improving product quality. Along with this the government of China has made it compulsory to meet the C-NCAP's safety standards which support buyers to see a five-star rating as a benchmark to vehicle's quality.
Automotive Electronics Market: Key Players
Some of the prominent players in field of automotive electronics market are Robert Bosch GmbH, Infineon Technologies AG, HGM Automotive Electronics, OMRON Corporation, Infineon Technologies AG, Hitachi, Ltd, Delta Electronics, Inc, Atotech Deutschland GmbH, ZF TRW, Maxim Integrated Products Inc, NXP Semiconductor NV, ZF Friedrichshafen AG, Texas Instruments Inc., ST Microelectronics N.V., ON Semiconductor Corp, and N.V.
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Automotive Electronics Market: Overview
The Asia Pacific
The Middle East and Africa