Automotive Electronics Market 2019 - 2024 Report By Top Manufacturers Lear Corporation, Magna International, Valeo, Autoliv, ZF Group, Panasonic, DENSO, Bosch, Texas Instruments, Delphi

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.

Automotive Electronics Market is projected to exceed USD 400 billion by 2024; according to a new research report by Global Market Insights, Inc.

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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.

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.

Automotive Electronics Market By Application

• ADAS
o Adaptive cruise control
o Blind spot detection
o Parking assistance
o Automated emergency braking
o Night vision
o Lane department warning
• Body Electronics
• Infotainment & communication
o Audio
o Display
o Navigation
o Head-up display
o Communication
• Powertrain
o Engine Controllers
o Transmission Drivetrain
o Exhaust
o xEV
• Safety systems

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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.

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.

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The key players operating in the market include Bosch Group, Continental AG, Lear Corporation, Hyundai Mobis, Magna International, Altera Corporation, Delphi, Infineon Technologies, Texas Instruments, and ZF Friedrichshafen AG. Major companies are focusing on developing differentiated and efficient electronic systems such as ADAS and powertrain to gain a competitive edge.

About Global Market Insights:

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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