Press release
Automotive Electronics Market Size, Gross Margin Analysis, Opportunities And Trends By Forecast 2033
Automotive Electronics Market
The automotive electronics market size is expected to see strong growth in the next few years. It will grow to $420.18 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to growing demand for electric vehicles, increasing automobile production, rising government support and increasing demand for safety features in automobiles.. Major trends in the forecast period include artificial intelligence technology, launch of advanced power electronics, integration of augmented reality (ar), new and innovative products introduction, strategic partnerships and collaborations to expand their product portfolio and drive revenues..
Market Overview -
AAutomotive electronics is an area of electronic engineering that focuses solely on the creation of electrical and electronic systems specifically tailored for installation in automobiles. These are used in automobiles to enhance the driving act, fuel efficiency, and comfort of both drivers and passengers.
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Electric Vehicle Surge Powers Growth In Automotive Electronics Market
The increasing penetration of electric vehicles is expected to propel the growth of the automotive electronics market going forward. Electric vehicles are vehicles that consist of a motor that is powered by electricity stored in batteries. Additionally, with defense against COVID-19 and aspirations to achieve net-zero emissions, EV and hybrid vehicles are suddenly adopted. Automotive electronics are used in the electric vehicle for the implementation of the electric powertrain system that provides high power to the vehicles. For instance, according to the Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the increasing penetration of electric vehicles is driving the growth of the automotive electronics market.
Competitive Landscape -
Major companies operating in the automotive electronics market report are Denso Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG, Hitachi Ltd, Aptiv PLC,Continental AG, Infineon Technologies AG, NXP Semiconductors N.V., STMicroelectronics N.V., Texas Instruments, Delphi Automotive, Mahindra Electric, Tata Elxsi, BYD Auto, Huawei Technologies, Tencent Auto, Baidu, Panasonic Automotive, Aisin Seiki Co., Ltd, Sony Corporation, Pioneer Corporation, Electro 80, Autron Automotive Electronics, REDARC Electronics, Integrated Micro-Electronics, Inc. (IMI), Valeo, Faurecia, Actia Group, Exagan, Hella GmbH and Co. KGaA, Brembo, Marelli Holdings Co., Ltd., Renesas Electronics Europe, Smiths Group, AVTOVAZ, Elektrobit (EB) Russia, Autoliv Romania, Bitdefender, Elba Timisoara, Can-Pack Group, Škoda Auto, Honeywell Czech Republic, Auto Town Classics, Prevail, LLC, Exkalibr, Auto Concepts, Metalenz Inc, Sila Nanotechnologies, Actnano, Citrine Informatics, PreAct Technologies, Manufacturing Technology, Inc, Nidec Mobility Brazil Ltda, Martins Store, Electronic Components Ltd, Silva, Express Micro Informatica, Anno Domini Ltda, Bom Papel Import E Export Ltda, Amp Intl Fzc, Manoj Electronics Group of Companies, Prime Motors, Carhome Services Llc, Chapin Enterprise Co., Ltd, Shenzhen Vigreat Electronic Co., Ltd, Essa Al Qassab Trading, Seveni Pros Auto, HDM Auto Electrical Parts, Lances Auto Repairs, Enduro Gearbox, Automax Service and Fitment Centre, Maidstone Auto Electrical, Sonic Vision Technologies Pty Ltd
Renesas Electronics Introduces Advanced Microcontrollers For Automotive Electronics
Technological advancements in in-vehicle safety are a key trend gaining popularity in the automotive electronics market. Major companies operating in the automotive electronics market are focused on developing new technological solutions to strengthen their position in the market. For instance, in December 2021, Renesas Electronics, a Japan-based semiconductor manufacturer, launched two new microcontrollers (MCUs) for automotive actuator and sensor control applications that facilitate edge growth in next-generation electronic and electrical (E/E) architecture. Renesas expands its RL78 Family of low-power 16-bit MCUs and strengthens its broader automotive portfolio with the new RL78/F24 and RL78/F23, offering clients highly dependable, high-performance solutions for systems ranging from actuators to zone control.
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Key Segments -
The automotive electronics market covered in this report is segmented -
1) By Type: Advanced Driver Assistance Systems, Body Electronics, Entertainment, Powertrain, Safety Systems, Other Types
2) By Component: Electronic Control Units, Sensors, Current Carrying Devices, Other Components
3) By Vehicle Type: Light Commercial Vehicles, Passenger Vehicles, Heavy Commercial Vehicles, Other Vehicle Types
4) By Sales Channel: OEM, Aftermarket
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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