Press release
Automotive Electronics Market Report: Trends, Forecast and Competitive Analysis 2017-2024
Growing automotive electronics adoption to deliver safe & security features including emergency call systems, vehicle data recorder systems and alcohol ignition interlocks systems are anticipated to fuel industry growth. As per EU assessment, more than 40% of the on-board mechanisms in the complete car is based on electronic and the percentage is likely to rise with the development in existing protocols governing the automotive electronics market.
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Increase in overall figure of fleets coupled with high average age will escalate the automotive electronics market. The automobile industry is expected to surpass 125 million units over the coming eight years, thus flourishing industry growth. In 2015, the U.S. registered over 250 million passenger cars, an increase of 5 million over 2014.
Advancement in the European governing agenda to make obligatory including Antilock Braking Systems (ABS) and Tire Pressure Monitoring Systems (TPMS) technologies in the automobile is estimated to drive the automotive electronics market over the forecast period. The sales figures for the region specify a promising potential growth particularly owing to the increasing sales of SUVs and pickup trucks.
Entertainment application sector is anticipated to generate over USD 80 billion business by 2024. Increase in consumer spending on entertainment systems including MP3 players, rear set entertainment, navigational services, satellite radios and several communication functions will contribute the automotive electronics market growth.
North America is anticipated to witness an upsurge in overall growth of over 8.5% up to 2024. Technological development along with increasing concern over safety & security in vehicles will drive demand. In addition, New Car Assessment Program (NCAP) in the U.S. has delegated lane departure cautioning systems and emergency braking systems to assure a five-star evaluation for passenger cars, thereby fueling the automotive electronics market growth.
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Asia Pacific automotive electronics market generated more than USD 85 billion in 2016. Sifting vehicle electrical constituent manufacturer production unit to Asia, availability of lesser cost equipment and labor. Necessity to meet international governing standards to promote export will positively impact industry growth.
Large presence of industry participants leads the market to highly competitive in nature all across the globe. Continuous innovation and spread of advanced technology into almost all main systems in automobile is expected to fuel the market growth. Some of the major market share holders are Continental, Hitachi, Delphi, Bosch and Panasonic.
Other prominent manufacturers include Dow corning, Denso, Altera, Audiovox, Atmel, TRW, Wipro, Avago, Infineon technologies and Texas Instruments. Automakers are likely to increase the implementation of intelligent electronics making their vehicles safe to drive and environment friendly.
Chapter 4 Automotive Electronics Market, By Application
4.1 Global automotive electronics market share by application, 2016 & 2024
4.2 ADAS
4.2.1 Market estimates and forecast from ADAS, 2013 – 2024, (USD Billion)
4.2.2 Market estimates and forecast from ADAS by region, 2013-2024, (USD Billion)
4.3 Body electronics
4.3.1 Market estimates and forecast from body electronics, 2013 – 2024, (USD Billion)
4.3.2 Market estimates and forecast from body electronics by region, 2013-2024, (USD Billion)
4.4 Entertainment
4.4.1 Market estimates and forecast from entertainment, 2013 – 2024, (USD Billion)
4.4.2 Market estimates and forecast from entertainment by region, 2013-2024, (USD Billion)
4.5 Powertrain
4.5.1 Market estimates and forecast from powertrain, 2013 – 2024, (USD Billion)
4.5.2 Market estimates and forecast from powertrain by region, 2013-2024, (USD Billion)
4.6 Safety systems
4.6.1 Market estimates and forecast from safety systems, 2013 – 2024, (USD Billion)
4.6.2 Market estimates and forecast from safety systems by region, 2013-2024, (USD Billion)
Browse Full TOC @ https://www.gminsights.com/toc/detail/automotive-electronics-market
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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