Press release
Decoding the Future of the Automotive Electronics Market: Strong Growth, Noteworthy Trends, and Influential Key Players
Automotive Electronics Market
What Is The Projected Market Size Of The Global Automotive Electronics Market And Its Growth Rate?
•The market's size was $295.42 billion in 2024 and is projected to reach $320.36 billion in 2025 with a CAGR of 8.4%. This growth is attributed to strong economic growth in emerging markets, increased demand for commercial and passenger vehicles, and a rise in disposable income.
•The automotive electronics market is expected to see substantial growth in the upcoming years, further growing to $454.87 billion in 2029 at a CAGR of 9.2%. Key drivers for this forecast period include a surge in demand for electric vehicles, increased automobile production, supportive government policies, and growing demand for safety features in automobiles.
What Is Driving The Growth In The Automotive Electronics Market?
The growing adoption of electric vehicles is priming the automotive electronics market for robust growth. Electric vehicles, which are powered by electricity stored in batteries, rely heavily on automotive electronics for implementing the electric powertrain system. Interest in electric vehicles and hybrids has spiked due to the ongoing COVID-19 pandemic and the commitment to achieve net-zero emissions. For example, in Q2 2024, combined U.S. sales of hybrid vehicles, plug-in hybrid electric, and battery electric vehicles rose to 18.7% of total new light-duty vehicle sales, up from 17.8% in Q1 2024, according to a report by The U.S. Energy Information Administration (EIA). Hence, the increased penetration of electric vehicles is a pivotal factor driving the automotive electronics market's growth.
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Who Are the Key Players Driving Automotive Electronics Market Growth?
•Denso Corporation
•Robert Bosch GmbH
•ZF Friedrichshafen AG
•Hitachi Ltd
•Aptiv PLC
•Continental AG
•Infineon Technologies AG
•NXP Semiconductors N.V.
•STMicroelectronics N.V.
•Texas Instruments
•Delphi Automotive
•Mahindra Electric
•Tata Elxsi
•BYD Auto
•Huawei Technologies
•Tencent Auto
•Baidu
•Contemporary ere*x Technology Co. Limited
•Panasonic Automotive
•Aisin Seiki Co., Ltd
•Sony Corporation
•Pioneer Corporation
•Electro 80
•Autron Automotive Electronics
•REDARC Electronics
•Integrated Micro-Electronics, Inc. (IMI)
•Valeo
•Faurecia
•Actia Group
•Exagan
•Hella GmbH and Co. KGaA
•Brembo
•Marelli Holdings Co., Ltd.
•Renesas Electronics Europe
•Smiths Group
•AVTOVAZ
•Elektrobit (EB) Russia
•Autoliv Romania
•Škoda Auto
•Honeywell Czech Republic
•Metalenz Inc
•Sila Nanotechnologies
•Actnano
•Citrine Informatics
•PreAct Technologies
•Manufacturing Technology, Inc
•Nidec Mobility Brazil Ltda
•Shenzhen Vigreat Electronic Co., Ltd
•Maidstone Auto Electrical
•Sonic Vision Technologies Pty Ltd
What Are The Key Trends In The Automotive Electronics Market?
Key trends in the forecast period include:
•The integration of artificial intelligence technology
•Implementation of advanced power electronics
•Integration of augmented reality (AR)
•Introduction of new and innovative products
•Strategic partnerships and collaborations to expand product portfolios and drive revenues
What Are The Segments Of The Global Automotive Electronics Market?
•By Type: Advanced Driver Assistance Systems, Body Electronics, Entertainment, Powertrain, Safety Systems, Other Types
•By Component: Electronic Control Units, Sensors, Current Carrying Devices, Other Components
•By Vehicle Type: Light Commercial Vehicles, Passenger Vehicles, Heavy Commercial Vehicles, Other Vehicle Types
•By Sales Channel: OEM, Aftermarket
Which Region Leads The Automotive Electronics Market?
The Asia-Pacific region led the automotive electronics market in 2024. North America is touted as the fastest-growing region in the forecast period. The report covers automotive electronics market trends across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Automotive Electronics Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Electronics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Electronics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Electronics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Electronics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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