Press release
Meticulous Research® Projects Automotive Electronics Market to Reach $361.6 Billion by 2030
Meticulous Research®, a leading global provider of market insights, has published a new report titled Automotive Electronics Market by Component (ECU, Sensors, ICs), Material (Silicon, Germanium), Application (ADAS, Infotainment Systems), Vehicle Type (ICE, Hybrid, Electric Vehicles), Channel (OEMs, Aftermarket), and Geography - Global Forecast to 2030. According to the report, the global automotive electronics market is poised to reach $361.6 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.7% between 2024 and 2030.Download Complete Sample PDF Copy Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5531
Key Growth Drivers
The market's growth is propelled by several key factors, including:
The rising trend toward vehicle electrification
Increased demand for energy-efficient electronic devices
Growing focus on safety and control systems in modern vehicles
Additionally, the surging demand for Advanced Driver Assistance Systems (ADAS) and the adoption of adaptive lighting in passenger and entry-level SUVs present significant opportunities. However, challenges such as the high cost of automotive electronics and fluctuating raw material prices are hindering market expansion.
Market Segmentation and Key Insights
The automotive electronics market is segmented by component, material, application, vehicle type, and distribution channel. The report provides detailed insights into each segment's performance and its contribution to overall market growth.
By Component: The market is categorized into electronic control units (ECUs), sensors, integrated circuits (ICs), head-up displays, actuators, IP modules, and other components. In 2024, ECUs are expected to hold the largest market share due to the rising demand for advanced vehicle technologies, particularly in hybrid and electric vehicles. ECUs play a crucial role in coordinating various vehicle systems to ensure optimal performance and safety. However, the sensors segment is projected to experience the highest CAGR during the forecast period, driven by increased demand for monitoring and optimizing vehicle systems to comply with stringent emission regulations.
Check complete table of contents with list of table and figures: https://www.meticulousresearch.com/product/automotive-electronics-market-5531
By Material: The automotive electronics market is segmented into silicon, germanium, and other materials. The silicon segment is anticipated to dominate in 2024, largely due to its superior efficiency in supporting electromobility, enabling fast recharging, and improving energy conservation. Silicon-based ICs are pivotal in enhancing vehicle performance by integrating complex electronic components into a compact form. The segment is also expected to grow at the fastest pace during the forecast period.
By Application: The market is divided into various applications such as tire pressure monitoring systems, engine management & powertrain systems, infotainment systems, ADAS, body control & comfort, and autonomous mobility. In 2024, the body control & comfort segment is expected to capture the largest market share, driven by the increasing demand for premium features and the growing deployment of vehicle-to-vehicle (V2V) and vehicle-to-everything (V2X) technologies. Meanwhile, the ADAS segment is forecasted to register the highest CAGR, fueled by rising collaboration between automakers and technology companies to develop autonomous driving technologies.
By Vehicle Type: The market is segmented into internal combustion engine (ICE) vehicles, hybrid vehicles, and electric vehicles (EVs). ICE vehicles are expected to hold the largest market share in 2024 due to their durability and lower maintenance requirements. However, the EV segment is projected to grow at the highest CAGR, driven by falling battery prices, growing environmental concerns, and increased investments in EV infrastructure.
By Distribution Channel: The market is divided into original equipment manufacturers (OEMs) and aftermarket channels. OEMs are expected to dominate in 2024, while the aftermarket segment is forecasted to grow at the highest rate during the forecast period, owing to rising demand for vehicle customization and maintenance.
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Regional Outlook
Geographically, the automotive electronics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to lead the market, driven by the rapid growth of the electric vehicle sector, the presence of leading automotive manufacturers, and government incentives to promote EV adoption. The region is also expected to exhibit the fastest growth over the forecast period due to increasing investments in automotive electronics technologies.
Competitive Landscape
The global automotive electronics market is highly competitive, with key players leveraging strategies such as product innovation, partnerships, and mergers to strengthen their market positions. Major players in the market include:
Infineon Technologies AG (Germany)
Robert Bosch GmbH (Germany)
Valeo Inc. (France)
Continental AG (Germany)
Hitachi, Ltd. (Japan)
Aptiv PLC (Ireland)
Texas Instruments Incorporated (U.S.)
STMicroelectronics International N.V. (Switzerland)
NXP Semiconductors (Netherlands)
ZF Friedrichshafen AG (Germany)
Visteon Corporation (U.S.)
Advanced Micro Devices, Inc. (U.S.)
Magna International Inc. (Canada)
DENSO CORPORATION (Japan)
Hyundai Mobis Co., Ltd. (South Korea)
Request Sample PDF Copy Here: https://www.meticulousresearch.com/request-sample-report/cp_id=5531
Key Questions Answered in the Report:
What are the high-growth market segments based on component, material, application, vehicle type, and distribution channel?
What is the historical market size for automotive electronics, and what are the forecasts for 2024-2030?
What are the key drivers, challenges, and opportunities in the automotive electronics market?
Who are the major players, and what are their market shares?
How is the competitive landscape evolving?
What are the recent developments and strategies adopted by market players?
Which regions and countries are expected to experience the highest growth?
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