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.
Albany, NY -- (SBWIRE) -- 11/01/2017 -- Modern automobile systems are largely dependent upon the powerful electrical systems that serve as the basis for most major functions. As electricity powers, each of the computerized systems in the vehicle, gear shifting, engine functions, and power steering and brakes all require decently maintained circuits and wires. Continued penetration of advanced technology into nearly all the automobile main systems is expected to drive the industry growth of automotive electronics. Recently, a new study titled "Automotive Electronics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022" has been broadcasted to the wide repository of Market Research Hub (MRH), which finds that the global automotive electronics market will likely clock a CAGR of 7.4% for the forecast period between 2017 and 2022.
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This 170-pages forecast study provides a holistic outlook on the market's growth in terms of revenue (in US$ Mn) across different geographical regions, such as North America, Latin America, Middle East and Africa, Europe, APEJ, and Japan. It has been analyzed that Europe is anticipated to dominate the global automotive electronics market in 2017 in relation to revenue. This trend is anticipated to continue over the forecast period.
Initially, the report comprises an elaborate executive summary, including a market snapshot of automotive electronics market that provides overall information of various segments and sub-segments. Automotive electronics comprise electrically operated systems that are installed in vehicles. Electronic fuel injection, advanced driver assistance, airbag, telematics, and in-car entertainment are some of the areas where automotive electronics are deployed in order to increase the overall efficiency. Presently, shifting consumer preference towards vehicles with safety equipment including map-supported front lighting, collision warning, and speed alert will drive automotive electronics demand. According to the study findings, the market will likely be valued at US$5,048.9 mn by the end of 2022 from its evaluated worth of US$3,530.7 mn in 2017.
Apart from the above elements, the report has segmented the market on the basis of vehicle type, sales channel and applications. On the basis of vehicle type, the report covers compact passenger cars, mid-sized passenger cars, luxury passenger cars, heavy commercial vehicles, premium passenger cars, and light commercial vehicles. Application-wise, the market has been bifurcated into advanced driver assistance systems, entertainment, safety systems, body electronics, and powertrain. OEM and aftermarket are the major sales channel in the global automotive electronics market.
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Furthermore, the report also highlights demand drivers, challenges, and opportunities that are expected to have an impact on the market's growth over the forecast period. It has been identified that as electric and hybrid vehicles become popular, automotive electronics are likely to become the key focus of manufacturers of automotive electronics. Further, technological advancements such as power trains and electrical active suspensions for electric vehicles is likely to increase the application areas of power electronics in the automotive sector.
Moving further, the study includes the profiles of key players in the market and the strategies adopted by them to sustain in the competition. Infineon Technologies AG, Texas Instruments Inc., ON Semiconductor Corp., ST Microelectronics N.V., Maxim Integrated Products Inc., NXP Semiconductor NV, OMRON Corporation, Robert Bosch GmbH, Hitachi Ltd, and ZF Friedrichshafen AG are the leading companies in the worldwide market for automotive electronics.
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