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Automotive Electronics Market Statistical Forecast, Growth Insights, and Trade Analysis (2024-2031) | Geotab, MiX Electronics, Verizon Connect, Teletrac Navman
Automotive Electronics Market || 2024-2031
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What is the projected growth rate (CAGR) of the Global Automotive Electronics market from 2024 to 2031, and what is the market value expected to change by 2031?
Global Automotive Electronics Market reached US$ 6.5 billion in 2023 and is expected to reach US$ 12.4 billion by 2031, growing with a CAGR of 8.5% during the forecast period 2024-2031.
What is Automotive Electronics Market?
Automotive Electronics refers to the electronic systems and components used in vehicles to enhance performance, safety, and functionality. This includes a wide range of applications such as engine control units (ECUs), infotainment systems, advanced driver-assistance systems (ADAS), navigation, and communication technologies. Automotive electronics play a crucial role in improving fuel efficiency, enabling connectivity, and supporting the integration of autonomous driving features. With the increasing trend towards electric vehicles and smart technologies, the demand for advanced automotive electronics continues to grow, driving innovation in the automotive industry.
Growth Driver
Growth in Software and Electrical Components
The automotive electronics industry is being transformed by the ACES trends-autonomous driving, connected vehicles, electrification of powertrains, and shared mobility. These trends are interconnected and mutually supportive, causing significant disruptions throughout the automotive electronics value chain and affecting all stakeholders involved. This convergence is driving demand for advanced software and electrical components, paving the way for innovative solutions and enhanced vehicle functionalities.
Key Players:
Profiles of some of the major players in the global Automotive Electronics market, which include:
Geotab, MiX Electronics, Verizon Connect, Teletrac Navman, Omnitracs LLC, CalAmp, Samsara, TomTom, Trimble and Fleet Complete.
Industry Development:
In January 2023, BMW unveiled the i Vision Dee at CES 2023, showcasing the vehicle's advanced digital capabilities. The central control features a mixed reality slider that transforms the windshield into a dynamic portal of digital experiences. With Shy-Tech technology, touch sensors allow drivers to customize the level of digital content displayed.
In July 2023, Altium and Ansys announced a partnership aimed at improving the electronic design and development process by creating a digital connection between Altium's electronic computer-aided design tools and Ansys Electronics Desktop. This collaborative integration, set to launch in the latter half of 2023, aims to enhance digital continuity, reducing development time and minimizing design errors.
In June 2023, AMD introduced the Versal Premium VP1902 adaptive system-on-chip (SoC), which is recognized as the world's largest adaptive SoC. Featuring an impressive 18.5 million logic cells in a compact 77x77 mm area on a four-tile interconnected chiplet, this SoC delivers double the density and bandwidth compared to its predecessor, the previous generation Versal premium device.
The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Automotive Electronics market.
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Market Segments:
The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.
By Type: Engine Electronics, Transmission Electronics, Chassis Electronics, Driver Assistance, Entertainment Systems, Electronic and Integrated, Cockpit Systems
By End-User: Automotive Manufacturers, Fleet Operators, Government and Public, Transportation Agencies, Electronics Manufacturers
Regional Break out:
☞ North America - US, Canada, Mexico
☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe
☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific
☞ South America- Brazil, Argentina, Colombia, Rest of South America
☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel
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Key Features
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➧ Track competitor's movements in real time, allowing you to swiftly adapt strategies and remain competitive.
➧ Compare your performance with industry leaders to identify gaps, strengths, and areas for improvement.
➧ Stay updated with emerging market trends, technological advancements, and customer behaviour to refine your strategy.
➧ Receive actionable insights and recommendations to drive your business toward growth and long-term success.
➧ Tailor competitive intelligence to your unique business needs, ensuring relevant and focused analysis.
➧ Evaluate supply chain efficiency and logistics strategies to optimize operations and minimize disruptions.
➧ Understand key players, stakeholders, and partnerships to navigate the competitive landscape more effectively.
➧ Identify and target specific market segments with detailed intelligence on customer preferences and behaviours.
➧ Stay informed on regulatory changes and legal requirements impacting your industry to ensure compliance and mitigate risks.
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DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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