Meticulous Research® Publishes Comprehensive Report on Automotive Electronics Market: Projected to Reach $361.6 Billion by 2030

Meticulous Research®, a leading global market research company, has released an in-depth 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."

Market Growth and Drivers
According to the report, the automotive electronics market is anticipated to reach $361.6 billion by 2030, with a compound annual growth rate (CAGR) of 6.7% from 2024 to 2030. The market expansion is primarily driven by the rise in vehicle electrification, the growing need for energy-efficient electronic devices, and the increasing demand for advanced safety and control systems. Additionally, the burgeoning demand for Advanced Driver Assistance Systems (ADAS) and adaptive lighting systems in passenger and entry-level SUVs presents significant growth opportunities. However, high electronic system costs and fluctuating raw material prices are notable challenges.

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Segmentation Analysis
The report segments the automotive electronics market based on component, material, application, vehicle type, and distribution channel, and provides regional and country-level market analysis.

• By Component:
The market is segmented into electronic control units (ECUs), sensors, integrated circuits (ICs), head-up displays, actuators, IP modules, and other components.

The sensors segment is projected to register the highest CAGR, fueled by the rising need for sensors in hybrid powertrains and the emphasis on reducing vehicles' carbon footprints.

•By Material:
Silicon is expected to dominate the market share and exhibit the highest CAGR due to its efficiency in supporting electromobility, fast recharging, improved battery control, and extended range for electric vehicles.

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By Application:
Applications include tire pressure monitoring systems, engine management & powertrain systems, fuel injection systems, infotainment systems, ADAS, body control & comfort, safety, architecture & networking, HVAC systems, autonomous mobility, and lighting systems.

The body control & comfort segment is projected to hold the largest market share in 2024, driven by stringent engine management requirements for EVs and the deployment of V2V and V2X connectivity technologies.

The ADAS segment is expected to register the highest CAGR, supported by collaborations among automakers, technology companies, and semiconductor manufacturers for advanced autonomous driving systems.

By Vehicle Type:

Segmentation includes internal combustion engine (ICE), hybrid, and electric vehicles.
ICE vehicles are expected to dominate the market share in 2024 due to their durability and lower maintenance needs.

Electric vehicles are projected to register the highest CAGR, driven by decreasing battery prices, rising environmental concerns, and increased investments by automotive OEMs

By Distribution Channel:

The market is segmented into OEMs and aftermarket.

OEMs are expected to hold a larger market share in 2024, while the aftermarket segment is projected to register the highest CAGR.

The market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Asia-Pacific is expected to lead the market share in 2024 and continue to grow, driven by the increasing demand for EVs, the presence of numerous manufacturers, and incentive programs for EV adopters.

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Key Industry Players
Key players in the automotive electronics 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), and Hyundai Mobis Co., Ltd. (South Korea).
Key Questions Addressed in the Report:
• What are the high-growth market segments by component, material, application, vehicle type, and distribution channel?
• What is the historical market size for automotive electronics?
• What are the market forecasts and estimates from 2024 to 2030?
• What are the major drivers, restraints, opportunities, and challenges in the market?
• Who are the major players, and what market shares do they hold?
• How is the competitive landscape evolving?
• What recent developments have occurred in the market?
• What strategies are major players adopting?
• What are the key geographic trends and high-growth countries?

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Mr. Khushal Bombe
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This release was published on openPR.