Press release
A CAGR of 7.30%, Automotive Electronics Market is projected to hIT $382.16 billion by 2026 | Robert Bosch, Renesas Electronics, Infineon Technologies, STMicroelectronics, Texas Instruments, NXP Semiconductors, Continental AG, NVIDIA, Hitachi, and Aptiv PL
Automotive Electronics Market
According to the report, the global automotive electronics market accounted for $228.34 billion in 2019, and is estimated to reach $382.16 billion by 2026, growing at a CAGR of 7.3% from 2019 to 2026.
Leading market players
o Continental AG
o NVIDIA Corporation
o Hitachi Ltd.
o Aptiv PLC
o Robert Bosch
o Renesas Electronics Corporation
o Infineon Technologies AG
o STMicroelectronics N.V.
o Texas Instruments
o NXP Semiconductors N.V.
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The companies follow various market strategies such as product launch, product development, collaboration, partnership, and others that leads to the market growth. Nvidia launched a simulator that leverages cloud computing power to test autonomous vehicles. The software can simulate sunlight during sunset, snowstorms, poor road surfaces, and dangerous situations to test the vehicle's ability to react.
Key Benefits for Stakeholders:
o This report provides an extensive analysis of the current and emerging market trends and dynamics in the global automotive electronics market.
o In-depth automotive electronics market analysis is conducted by semiconductor and electronics market estimations for the key market segments between 2019 and 2026.
o Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
o Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the global automotive electronics market.
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Prime determinants of growth
Factors that assist the market growth include decline in prices, better performance as compared to SiC devices, rise in demand of GaN devices for wireless charging, increase in installation of GaN devices in electric vehicle, and growth in requirement of GaN devices in commercial RF applications. However, lack of availability of GaN material restrains the market growth. Government initiatives in HVDC and smart grid is anticipated to provide numerous opportunities for market growth during the forecast period.
The passenger car segment to dominate throughout the forecast period
Based on type, the passenger car segment accounted for nearly two-fifths of the total share of the global automotive electronics market in 2019, and is estimated to continue to dominate throughout the forecast period. The passenger cars share a major part of the mobile categories that increases the demand of the customer for electronic controls, which drives the growth of the segment. On the other hand, the HCV segment is expected to maintain the highest CAGR of 9.0% from 2019 to 2026. The electronic installation in HCV for driver assistance and safety offers lucrative growth to the segment.
The microcontrollers segment estimated to maintain its leadership status by 2026
Based on components, the microcontrollers segment accounted for the largest share of the global automotive electronics market, contributing to more than one-fourth of the total market in 2019, and is estimated to maintain its leadership status throughout the forecast period. The increase in demand for smart electronics in automotive leads the growth of the segment. However, the processors segment is expected to register the highest CAGR of 8.6% from 2019 to 2026. The processors play a major role in electronic system, which drives the growth of the segment.
COVID-19 Pandemic disrupted the entire world and affected many industries.
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Europe to maintain its lead status in terms of revenue by 2026, North America to grow at a moderate pace-
Based on region, Europe accounted for the highest market share in 2019, accounting for nearly one-third of the global automotive electronics market, and is expected to maintain its lead status in terms of revenue by 2026. This is due to the presence of leading market players in the region. However, LAMEA is estimated to portray the largest CAGR of 10.0% from 2019 to 2026. The rapid adoption of autonomous vehicle controls in this province, leads the growth of the market in this region. On the other hand, North America estimated to manifest a CAGR of 4.90% in between 2019 to 2026
Key Market Segments:
By Vehicle Type
o Passenger Car
o LCV
o HCV
By Component
o Sensors
o Actuators
o Processors
o Microcontrollers
o Others
By Application
o ADAS
o Infotainment
o Body Electronics
o Safety System
o Power Train
o Others
By Distribution Channel
o OEM
o Aftermarket
By Region
o North America
o U.S.
o Canada
o Mexico
o Europe
o UK
o Germany
o France
o Russia
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
o LAMEA
o Latin America
o Middle East
o Africa
Automotive Electronics Market to Reach $382.16 Bn, by 2026 at 7.3% CAGR @ https://www.alliedmarketresearch.com/automotive-electronics-market-A06036
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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