Automotive Body Electronics Market worth USD 80.1 billion by 2027

The Market Statsville Group (MSG) publishes the new report on the "Automotive Body Electronics Market by Component (MCU, ICs, Sensors, DC-DC converters, and Other Components), by Body Features (Windows and Door Modules, Seating Modules, Roof Module Control, Light Control, Auto HVAC, Wiper and Mirror Module, and Keyless Remote Entry), by Application (Passive Safety, Driver Assistance, Passenger Comfort, Vehicle Security System, Infotainment Systems, and Chassis Electronics), by Region - Global Share and Forecast to 2027". The global automotive body electronics market size is expected to grow at USD 80.1 billion by 2027 from USD 53.1 billion in 2020, at a CAGR of 7.1% from 2021 to 2027. The automobile industry is very responsive to economic cycles as buying a motor vehicle is a relatively expensive, enduring, and credit-based transaction for individual customers. Therefore, there is a correlation between the size of a country's gross domestic product and its automotive industry. Registrations of commercial vehicles tend to follow GDP growth more closely, given that demand for road transport is directly related to the state of the economy.

Additionally, passenger car demand usually anticipates GDP developments, as consumer confidence often influences the purchase of a new car. Hence, the stable economic condition in emerging economies is expected to impact the sales of automobiles positively. Emerging countries such as India, China, Brazil, and Argentina are emerging markets with phenomenal GDP growth. Moreover, the sales of passenger and commercial vehicles in these countries are rising significantly, driving the automotive body electronics market demand.

Browse 211 market data Tables and 63 Figures spread through 234 Pages and in-depth TOC on "Automotive Body Electronics Market Research Report 2021-2027."

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Global Automotive Body Electronics Market Segmentation
The overall automotive body electronics market has been segmented into component, body features, application, and region.

By Component (MCU, ICs, Sensors, DC-DC converters, and Other Components)
By Body Features (Windows and Door Modules, Seating Modules, Roof Module Control, Light Control, Wiper, and Mirror Module, Auto HVAC, and Keyless Remote Entry)
By Application (Passive Safety, Driver Assistance, Passenger Comfort, Vehicle Security System, Infotainment Systems, and Chassis Electronics) (Sales, USD Million, 2017-2027)
By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
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Windows and Door Modules segments, by body features, is estimated to hold the largest market share during the forecast period

Based on body features, the global market of automotive body electronics is segmented into Windows and Door Modules, Roof Module Control, Seating Modules, Light Control, Auto HVAC, Remote Keyless Entry, and Wiper and Mirror Module. Windows and Door Modules segments hold the largest market share of 26.5% in the global automotive body electronics market. They are also expected to grow with the highest CAGR over the forecast period. For the next four years, the growing demand for door and window modules in premium and luxury vehicles will gain traction in the automotive door and window module market. Moreover, the increasing awareness towards advanced safety features is another major factor fuelling the window module market. Moreover, top automakers such as BMW, Toyota Motors, Mercedes-Benz, Audi, General Motors, Honda, Hyundai, Land Rover, Lexus, Tata Motors, and Volvo offer growth opportunities for the window and door module market.

Windows are an integral part of the car. Changing technology, innovations, and the increasing usages of electronics systems in vehicles are driving the growth of window modules in the market. Furthermore, automakers are increasing the production of such vehicles that provide more features associated with sensors powered by microcontrollers to enhance automobiles' safety and security levels. A door module is an electronic unit that controls the electronic system associated with an advanced motor vehicle. A Door module is one of the ECUs (Electronic Control Units) a modern motor vehicle comprises. Door modules are integrated with the door of the vehicles in order to control the movement of the mirror and door.

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The Asia Pacific accounts for the largest market share in the automotive body electronics market 2020

Based on the regions, the global automotive body electronics market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Asia Pacific accounted for the highest market share of 38.5% in the global automotive body electronics market and was anticipated to maintain its dominance throughout the forecast period. China and the European Commission launched the New Car Assessment Program (NCAP), which mandates the inclusion of Automatic Emergency Braking (AEB) and Lane Departure Warning (LDW) feature, thus, improvising the vehicle safety standards. Companies offering infotainment solutions are consolidating features, such as Advanced Driver-Assistance Systems (ADAS) and in-vehicle infotainment, which will boost automotive sales with electronic body features over the forecast years.

China is witnessing a significant increase in the demand for automobile electronic products due to the high production & consumption of electric vehicles. As a result, there is a huge requirement for enhanced body electronics products. Automobile manufacturers in India have introduced modern safety and infotainment systems in their cars. Apart from this, growing GDP and stability in the economic condition are driving the consumers to purchase modern vehicles-these further strengthen the growth of the automotive body electronics market.

Robert Bosch, Continental AG, Denso Corporation, Hyundai Mob, HELLA, NXP Semiconductors, Texas Instruments, Renesas Technology Corp, Infineon Technologies, Cypress Semiconductor, STMicroelectronics, ZF, Dallas Semiconductors, Fujitsu Semiconductor, and Microsemi are some of the manufactures in the market of automotive body electronics worldwide.

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