Press release
Automotive Electronic Accessories Market Set to Grow at 6.8% CAGR from 2021 to 2028, Driven by Demand for Luxury and Advanced Technology Features
Dataintelo
The automotive industry has seen a noteworthy upturn in the need for technologically advanced accessories, keying up market growth across continents. The rising demand for accessory features such as smart lighting mechanisms, GPS systems, air conditioning, and entertainment systems has been extensive, leading to substantial market growth.
Moreover, the growing trend of vehicle electrification, the incorporation of smartphone features, and heightened vehicle internet connectivity are escalating the demand for electronic accessories in the global automotive market. Accessories including navigation systems, Bluetooth, parking sensors, car radio, auto dimming and electrically retractable ORVM's, are changing the way consumer's interact with their vehicles - in turn, propelling the market upwards.
However, the industry also understands the challenges slowing down this escalated growth. The evolution and growth in technology come with increased costs, which is a suppressing factor for the market. Besides, the rising instances of cyber threats and the dearth of standard protocols might hamper the automotive electronic accessories market expansion.
Despite these challenges, the market displays resilience and an optimistic future, with manufacturers adopting strategies such as mergers, acquisitions, and partnerships to strengthen their footprints in the booming automotive electronic accessories market. There continues to be a surge in comprehensive research and development activities, aiming at incorporating advanced technology to ensure less energy consumption, improved vehicle safety, and enhanced comfort.
Overall, the adoption of advanced technologies in the automotive sector and the increasing demand for luxury and comfort features are clear indicators of significant growth in the global automotive electronic accessories market in the forecast period 2021-2028. This expanding electronic accessories market presents significant ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐๐จ๐ซboth established giants and emerging players in the automotive industry
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐๐ซ๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ @ https://dataintelo.com/request-sample/261795
๐๐ก๐ข๐ฌ ๐ข๐ฌ ๐จ๐ง๐ ๐จ๐ ๐ญ๐ก๐ ๐ฆ๐จ๐ฌ๐ญ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ง๐ ๐๐จ๐ฏ๐๐ซ ๐ญ๐ก๐ ๐๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ๐ฌ:
The automotive electronic accessories sales market has been segmented on the basis of๐๐ซ๐จ๐๐ฎ๐๐ญ ๐๐ฒ๐ฉ๐
โ Intelligent Navigation
โ Multimedia
โ Body Control Integration
โ Electronic Control
โ Other
๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง ๐๐ฒ๐ฉ๐
โ Commercial Car
โ Personal Car
๐๐๐ ๐ข๐จ๐ง
โ Asia Pacific
โ North America
โ Latin America
โ Europe
โ Middle East & Africa
๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
โ Bosch
โ Aptiv
โ Navifo
โ Hang Sheng
โ Deren Electronics
โ Bei Dou
โ Calsonic
โ Continental AG
โ Visteon Group
โ Siemens
The automotive electronic accessories sales market can be segmented based on product type and application type. The product type is further divided into intelligent navigation, multimedia, body control integration, electronic control and others. Intelligent navigation deals with the products which assist in driving assistance and maneuvering, whereas multimedia refers to the entertainment aspects like stereos, screens among others. Body control integration consists of regulatory systems that control features such as central locking, electric windows and etc, on the other hand, electronic control represents engine control units and other related parts.
In terms of ๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ, the automotive electronic accessories sales market has been segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The Asia Pacific has been dominating the market due to the significant growth in the automotive industry in emerging economies such as China and India. North America and Europe also occupy substantial market shares owing to the strong presence of leading automotive companies. Meanwhile, in Latin America, and Middle East & Africa, the market is also expected to witness growth due to the increasing demand for technology-integrated modern vehicles. The key players in this market are Bosch, Aptiv, Navifo, Hang Sheng, Deren Electronics, Bei Dou, Calsonic, Continental AG, Visteon Group, and Siemens
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐๐ซ๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ @ https://dataintelo.com/request-sample/261795
๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ for Automotive Electronic Accessories Sales Market:
1. Technological Advancements: The growth and advancements in technology have significantly contributed to the increasing sales of automotive electronic accessories. The integration of new features such as touchscreen control systems, GPS tracking, Wi-Fi, automatic climate control system and advanced entertainment systems are some of the factors driving the market.
2. Safety and Security: The rising concern for safety and security among consumers is another factor influencing the market growth. Automotive electronic accessories such as parking sensors, anti-lock braking system, airbags, security alarms, and cameras help in enhancing vehicle safety.
3. Increase in Automobile Sales: The increasing demand and sales of automobiles, both in the passenger and commercial vehicle sectors, continues to drive growth in the automotive electronic accessories market.
4. Urbanization and increased disposable income: Accelerated urbanization and a rise in disposable income have led to increased demand for convenience and comfort, fueling the demand for electronic accessories in automobiles.
๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐๐จ๐ซAutomotive Electronic Accessories Sales Market:
1. Autonomous and Electric Vehicles: The emergence of autonomous and electric vehicles offers significant growth ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐๐จ๐ซmarket players. These vehicles will require more advanced and unique electronics accessories for optimal functioning.
2. Internet of Things (IoT): The IoT presents an opportunity in the automotive electronic accessories sales market as it can connect different electronic devices and ensure they work together for a seamless user experience.
3. Expanding aftermarket segment: The aftermarket sector for automotive electronic accessories is rapidly growing and represents a significant opportunity for sales and revenue generation.
4. Development of Smart Cities: With the growth of smart cities, the need for smart and advanced electronic accessories in automobiles is also increasing, offering considerable opportunities.
5. Regulations for Safety Features: Governments worldwide are implementing stringent regulations regarding safety features in vehicles, thereby creating ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐๐จ๐ซmore sales of safety-based electronic accessories in the automotive sector
๐๐จ๐ฎ ๐๐๐ง ๐๐ข๐ซ๐๐๐ญ๐ฅ๐ฒ ๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ซ๐จ๐ฆ: https://dataintelo.com/checkout/261795
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๐๐จ๐จ๐ ๐ญ๐ก๐ข๐ง๐ ๐ฌ ๐๐๐จ๐ฎ๐ญ ๐๐๐ญ๐๐ข๐ง๐ญ๐๐ฅ๐จ:
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In summation, Dataintelo is a reliable, competent, and customer-centered market research company that offers valuable insights to help businesses grow and succeed
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