Automotive Electronics Market to Reach US$ 452.0 Billion by 2028 | CAGR of 7.4%

According to the latest report by IMARC Group, titled "Automotive Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", the global automotive electronics market size reached US$ 301.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 452.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.

Automotive electronics deals in equipping vehicles with digital and automatic controls. It possesses various features, such as power windows, changing ride modes, lighting, safety features, driver assistance, automatic ride controls, and infotainment. It is installed in various categories of vehicles, such as passenger cars, LCVs, and HCVs. It is used in vehicles to enhance an automotive vehicle's performance and increase its safety by integrating various safety devices such as airbags and lane management systems. Automotive electronics are extensively utilized in various automotive components, such as electronic fuel injection, infotainment systems, and automotive telematics systems.

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Industry Demand:

The global market is majorly driven by the increasing sales of electric vehicles. In line with this, the introduction of autonomous or driverless cars is significantly contributing to the demand for automotive electronics for the various components in automotive vehicles. Furthermore, the rising integration of advanced safety systems such as automatic emergency braking, airbags, parking assistance systems, and lane departure warning to decrease road accidents is creating a positive outlook for the market. Various leading automotive manufacturers are heavily investing in research and development activities to develop energy storage technology and superior-performance electronics at a reasonable cost. This, in turn, is expected to positively influence the market. Moreover, rapid technological advancements related to in-vehicle safety and stringent government regulations to minimize road accidents are catalyzing the market. Besides, the augmenting demand for in-car infotainment systems due to their improved comfort, efficiency, and convenience is propelling the market. Additionally, the high level of motor vehicle production and the emergence of new market players are providing a boost to market expansion.

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Key Segmentation:

Competitive Landscape with Key Players:

• OMRON CORP(OMRNY)
• Robert Bosch GmbH
• Infineon Technologies AG
• HGM Automotive Electronics
• Hitachi, Ltd.
• Delta Electronics, Inc.
• TRW Automotive
• Continental AG
• Bosch Group
• Altera Corporation
• Lear Corporation
• Aptiv
• Texas Instruments
• Atmel Corporation
• Altera Corporation
• Denso Corporation

Also Read Top Automotive Electronics Companies worldwide: https://www.imarcgroup.com/automotive-electronics-manufacturing-companies

Breakup by Component:

• Electronic Control Unit
• Sensors
• Current Carrying Devices
• Others

Breakup by Vehicle Type:

• Light Commercial Vehicles
• Passenger Vehicles
• Heavy Commercial Vehicles
• Others

Breakup by Distribution Channel:

• OEM
• Aftermarket

Breakup by Application:

• ADAS
• Infotainment
• Body Electronics
• Safety Systems
• Powertrain

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

NOTE: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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