Press release
At a CAGR of 5.12% Automotive Power Electronics Market Set To Hit $5.5 Billion By 2023: 2018 Global Key Players - Infineon, Texas Instruments, Renessa Electronics, Mitsubishi, Bosch Analysis
The global market of automotive power electronics market wants to grow at a rapid pace over the forecast period. The factors that are responsible for the growth of automotive electronics are increasing of electric vehicles, and increase in safety of the electronics control panels in vehicles. The advancement in technology as advanced driver assistance systems (ADAS), electronic stability control (ESC), and electronic control unit (ECU), which require power electronics for the protection of the system.
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Automotive Power Electronics Market Companies Analyzed in report:
Infineon Technologies AG (Germany), Texas Instruments Inc. (US), ON Semiconductor Corp. (US), Renessa Electronics Corp. (Japan), Mitsubishi Heavy Industries Ltd. (Japan), Maxim Products Inc. (US), NXP Semiconductors NV (Netherlands), Qualcomm Ins. (US), Robert Bosch GmbH (Germany), and Vishay Intertechnology Inc. (US).
The increase in the use of power electronics in electric vehicles has resulted in the growth of the market during the forecast period. The growing environmental concern due to the pollution resulted in growing demand for electric vehicles. The growing demand for electric vehicles has resulted in the increase of power electronics, which is driving the market in the future.
Market Segmentation:
The automotive power electronics market has been segmented based on component, application, vehicle type, and region. On the basis of component, the market has been segmented as MCU, Power IC, and Sensor. The sensor segment is expected to witness the highest growth during the forecast period because it is the key component in the electric vehicle. Sensors are mainly used in ADAS technology, electronic stability control (ESC), and electronic control unit (ECU), which are the key technologies used in electric vehicles. Based on applications, the market has been segmented as body electronics, chassis & powertrain, infotainment & telematics, and safety & security system. The body electronics segment is expected to dominate the market during the forecast period due to growing government regulations and initiative for the adoption of smart transportation solutions with advance safety features. On the basis of vehicle type, passenger car segment is expected to dominate the market during the forecast period due to increasing sales of electric cars.
Geographic Analysis:
On the basis of region, the market is segmented as North America, Asia Pacific, Europe, and Rest of the World. North America region is expected to dominate the power electronics in the automotive market because in North America, the US has spent the highest in the battery electric vehicle. Asia Pacific is expected to take the highest market share. This will result in growing demand of power electronics, which is expected to result in the growth of the market during the forecast period. In Europe, countries such as UK, Germany, France and Italy have made considerable effort for the development of technology in automotive industry. This development in technology has resulted in the growth of the market during the forecast period.
Browse Full Report on Automotive Power Electronics Market @ https://www.marketresearchfuture.com/reports/automotive-power-electronics-market-5013
Target Audience of Report:
This report is mainly focused on Automotive Power Electronics market Manufacturers, Distributors & Suppliers, and end Users. Investment bankers and consultants with end users for Automotive Power Electronics market also analyzed. And finally Government and Independent Regulatory Authorities involved with Global Automotive Power Electronics market studied.
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