Press release
Automotive Electronics Market is Forecasted to Reach US$ 372.2 billion in 2028, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm has launched a report on the global automotive electronics market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/1405/automotive-electronics-market.html#form
Report Highlights:
• Market Size in 2028: US$ 372.2 billion
• Growth (CAGR): 7.99% during 2023-2028
• Forecast Period: 2023-2028
• Trend Period: 2017-2021
• Base Year: 2022
• Number of Segments Covered: 3
• Number of Tables & Graphs: 100+
Segment Insights on the Automotive Electronics Market:
The global automotive electronics market is segmented based on application type, vehicle type, and region.
Based on application type - The market is segmented as ADAS, body electronics, infotainment & communication, powertrain, and safety systems. ADAS is expected to be the fastest-growing segment of the market owing to the advantageous features regarding safety and driving during the forecast period. This can be attributed to the implementation of strict safety regulations by governments and regulatory bodies worldwide, with the aim of reducing accidents and enhancing road safety. As safety awareness continues to grow, there is a heightened demand for Advanced Driver Assistance Systems (ADAS) technologies in vehicles.
Based on the vehicle type - The market is segmented into passenger cars and commercial vehicles. The passenger car is estimated to be the dominant segment of the market on account of the increasing consumption and production of passenger car vehicles and the growing integration of electronic systems during the forecast period. Rapidly changing consumer demands resulting in an increase in the development of high-end passenger cars are further expected to have a positive impact on the market during the forecast period.
To know the most attractive segments, visit:
https://www.stratviewresearch.com/1405/automotive-electronics-market.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to remain the largest market for automotive electronics during the forecast period. This growth outlook is majorly attributed to the following-
- The market owing to the flourishing automotive sector and China, Japan, and South Korea being the major countries providing lucrative growth opportunities in the vehicle & component manufacturing sector in the region during the forecast period.
- The rapid expansion of the automotive sector in these nations, propelled by increasing disposable incomes, urbanization, and infrastructure advancements, is driving the need for automotive electronics in the area.
Automotive Electronics Market Drivers:
Some of the key drivers listed in the report are given below.
• The worldwide transition to electric transportation is driving the need for sophisticated automotive electronics, such as battery management systems, power electronics, and technologies for charging infrastructure.
• Increasing consumer awareness and regulatory requirements for safety features such as Advanced Driver Assistance Systems (ADAS), lane departure alerts, and automated braking systems are propelling the incorporation of advanced electronics in automobiles.
• Consumers expect high-tech infotainment systems, touch interfaces, and seamless smartphone connectivity, leading to a surge in demand for automotive multimedia electronics.
Top Companies in the Automotive Electronics Market:
Stratview Research has identified the following companies as the top market players.
• Aisin Seiki Co., Ltd.
• Altera Corporation
• American Axle & Manufacturing, Inc.
• Atmel Corporation
• Autoliv, Inc.
• Broadcom, Inc.
• Continental AG
• Delphi Technologies
• Denso Corporation
• Robert Bosch GmbH.
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Automotive Electronics Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
Related Reports:
• Automotive Advanced Driver Assistance Systems Market: https://www.stratviewresearch.com/131/automotive-advanced-driver-assistance-systems-mark.html
• Automotive Safety System Market: https://www.stratviewresearch.com/121/automotive-safety-system-market.html
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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