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Automotive Electronics Market By Application, Steady Growth to 2024 | Leading Players - Atmel Corporation, Autoliv, Broadcom, Continental, Faurecia, Infineon Technologies, Lear Corporation, Panasonic, Texas Instruments, Valeo

12-03-2018 07:52 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Automotive Industry

Automotive Electronics Market

Automotive Electronics Market

Asia Pacific region is growing at a rapid pace in the automotive electronics market owing to an accelerated growth in vehicle & related part manufacturing activities in countries including China, Japan, and South Korea. Additionally, this growth is attributed to the high penetration of automotive and electronics manufacturers in the region and increasing export activities to North American and European nations. The increased automobile consumption in India and China owing to the rapid population growth creates opportunities for industry growth. Europe automotive electronics market valued at over USD 80 billion in 2017 is also experiencing growth owing to the presence of leading luxury and passenger car manufacturers and a high demand for comfort and infotainment systems.

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The passenger cars segment is experiencing a rapid growth in the automotive electronics market to reach over 85% revenue share by 2024 due to developments including safety & driving assistance, infotainment, etc. The newly developed passenger vehicles integrate several enhanced systems that offer advanced safety and luxury features to its consumers, further generating the requirement for automotive electronics market products. Moreover, the consumer demand related to luxury and comfortable vehicles owing to an increased spending capacity in countries such as the U.S., Germany, and India, among others is adding up to the passenger vehicle production. Additionally, commercial vehicles are also gaining substantial popularity in the market owing to the deployment of advanced safety, night driving, and engine control systems.

Industry Growth drivers:

1. Increasing demand for safety and comfort features in vehicles
2. Stringent regulatory framework in North America and Europe
3. Increasing sales of electric vehicles in China
4. Rapid development of unmanned driving technology in Europe
5. Flourishing automobile production in Mexico
6. Growing vehicle production activities in South Africa
7. Proliferation of component manufacturers in Asia Pacific

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1.Aisin Seiki Co. Ltd.
2. Altera Corporation
3. Atmel Corporation
4. Autoliv Inc.
5. Bosch Group
6. Broadcom, Inc.
7. Continental AG
8. Delphi Technologies
9. Denso Corporation
10. Faurecia
11. Hitachi Automotive Systems, Ltd.
12. Hyundai Mobis
13. Infineon Technologies
14. Lear Corporation
15. Magna International Inc.
16. Panasonic Corporation
17. Texas Instruments Incorporated
18. VALEO
19. Voxx International Corporation
20. ZF Friedrichshafen AG

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ADAS systems have also gained a substantial penetration in the automotive electronics market and will grow at a CAGR of over 9.5% owing to the safety & driving benefits provided by these systems. They consist of several features including blind spot detection, adaptive cruise control, night vision, etc., that aid while driving at night, in unfavorable weather conditions, and in distractive conditions. The inclusion of driving assistance systems offers advanced safety & control to vehicles and their drivers by providing airbags, automated brakes, and steering control features. These features along with the government policies aim at increasing automotive safety parameters, creating high adoption prospects for ADAS applications in the automotive electronics market. For instance, in September 2018, the Union Minister for Road and Highway Transport in India announced that Indian road safety will be increased by mandating ADAS for all cars by 2022.

ADAS systems have also gained a substantial penetration in the automotive electronics market and will grow at a CAGR of over 9.5% owing to the safety & driving benefits provided by these systems. They consist of several features including blind spot detection, adaptive cruise control, night vision, etc., that aid while driving at night, in unfavorable weather conditions, and in distractive conditions. The inclusion of driving assistance systems offers advanced safety & control to vehicles and their drivers by providing airbags, automated brakes, and steering control features. These features along with the government policies aim at increasing automotive safety parameters, creating high adoption prospects for ADAS applications in the automotive electronics market.

Growing government concerns regarding road & vehicle safety, traffic congestion reduction, and energy resource conservation across the globe are accelerating the automotive electronics market growth. The need to reduce vehicular pollution and consume lesser fuel in automotive vehicles has accounted for the emergence of electric & battery-operated vehicles in several countries including China and the U.S., among others. Moreover, several governments have started supporting developments in self-driving cars to avoid road fatalities and provide passenger safety, which is another factor accounting for the industry growth. Governments in Europe and the U.S. have permitted driverless vehicle testing operations for supporting the actual utilization of these vehicles on city roads, adding up to the automotive electronics market demand. For instance, in October 2018, the U.S. Department of Transportation and NHTSA have introduced several new guidelines for AV Testing and raised the safety concerns due to the accidents that occurred during testing operations.

Browse Report Summery @ https://www.gminsights.com/industry-analysis/autonomous-car-market

The major companies working on the Self-Driving Cars Market are Volkswagen, BMW, Fiat Chrysler Automobiles, Ford, GM, Honda, Hyundai, Jaguar, Mazda, Daimler, Mitsubishi, Nissan, Subaru, Tesla, Toyota, Volvo, Bosch, Waymo, Baidu, Uber, Continental GT, Aptiv, NVIDIA, Intel, and Autoliv. The technology players and OEMs are acquiring and forming alliances with various automakers to develop their own self-driving vehicles. These players are also partnering with regional and technology startups to develop AI-based solutions for autonomous vehicles.

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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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Corporate Sales, USA
Global Market Insights, Inc.
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