Press release
Automotive Electronics Market Growth Rate, Key-Players Lear Corporation(U.S.), Panasonic(APAC), Texas Instruments(U.S.), Infineon Technologies(EU), Broadcom Inc(U.S.), Altera(U.S.), Magna International(U.S.), Valeo(EU), Autoliv(EU)
Automotive Electronics
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The Europe automotive electronics market is predicted to witness a high growth over the forecast timespan due to the increasing manufacturing of luxury & passenger cars by the leading OEMs. Due to the implementation of high-end systems in these vehicles, the countries including Germany, Italy, UK, etc., are witnessing a high demand for automotive electronics. The regional automakers are focusing on providing efficient mobility such as connected vehicles, driving assistance, and infotainment systems. Additionally, increasing regulatory policies from the European Commission are supporting the expansion of the regional automobile industry, contributing to automotive electronics market growth.
Company profiles
1. Altera Corporation
2. Atmel Corporation
3. Autoliv Inc.
4. Bosch Group
5. Broadcom, Inc.
6. Continental AG
7. Delphi Technologies
8. Denso Corporation
9. Faurecia
10. Hyundai Mobis
11. Infineon Technologies
12. Lear Corporation
13. Magna International Inc.
14. Panasonic Corporation
15. Texas Instruments Incorporated
16. The Dow Chemical Company
17. VALEO
18. ZF Friedrichshafen AG
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In the automotive electronics market, powertrain applications are gaining high popularity across all regions due to the development of efficient fuel and energy consumption systems. Automotive electronic system manufacturers are concentrating on providing systems that will improve engine control and transmission drivetrains to address the OEM requirements. Furthermore, the powertrain applications are highly in demand due to high production and consumption of battery & electric vehicles. The powertrain system manufacturers are developing application-specific products and focusing on the incorporation of innovative techniques, further enhancing the vehicle performance. The need for low & zero emissions causing vehicles to control increased environmental pollution will result in the reconstruction of powertrain systems with natural gas, liquid air, and low fuel capabilities, adding to the automotive electronics market growth.
Automotive Electronics Market is expected to reach over USD 400 billion by 2024. The innovations in vehicle architectures and systems that enable a high-end driving experience in OEMs will drive the automotive electronics market growth. These strategies include the implementation of luxury & comfort features, ADAS solutions, and support to the sustainable development initiatives across all industry verticals. To address such requirements, OEMs require efficient electronic systems, further creating a demand for products such as powertrain, infotainment, etc., in the automotive electronics market. Additionally, the electrification of vehicle architecture and engines in the electric and hybrid mobility further provides an impetus to the industry development. The growth is attributed to high manufacturing and consumption of EVs in China, North America, and Europe.
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Prominent players present in the automotive electronics market comprise Bosch Group, Magna International, Continental AG, Hyundai Mobis, Hitachi Automotive Systems, Delphi Automotive, Lear Corporation, ZF Friedrichshafen AG, Texas Instruments, Faurecia, etc. Continuous product innovations by investing in R&D activities aid the companies to sustain a high automotive electronics market competition. The key companies adopt partnerships, collaborations, and dealership strategies to address varied demands from leading OEMs.
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