Electric Vehicle Surge Powers Growth In Automotive Electronics Market: Powering Innovation and Expansion in the Automotive Electronics Market by 2025

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How Large Will the Automotive Electronics Market Size By 2025?
The market size for automotive electronics has seen significant expansion in the past few years. The growth is projected to continue, escalating from $295.42 billion in 2024 to $320.36 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%. Factors contributing to this historical growth include robust economic development in rising markets, heightened demand for commercial vehicles, a surge in the demand for passenger vehicles, and an increase in disposable income.

How Big Is the Automotive Electronics Market Size Expected to Grow by 2029?
In the coming years, the automotive electronics market is poised for significant expansion. The market is projected to reach $454.87 billion in 2029, with a compound annual growth rate (CAGR) of 9.2%. Factors such as the surging demand for electric vehicles, booming automobile manufacturing, supportive government initiatives, and the increasing need for automobile safety features are amongst the reasons anticipated for the growth during the forecast period. Key trends expected within this period encompass the advent of artificial intelligence technology, advanced power electronics deployment, the integration of augmented reality (AR), the introduction of new and innovative products, as well as strategic alliances and partnerships to broaden product offerings and increase revenue.

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Which Key Market Drivers Powering Automotive Electronics Market Expansion and Growth?
The proliferation of electric vehicles is poised to boost the automotive electronics market. Electric vehicles consist of a motor that is fueled by electricity stored in batteries. Furthermore, due to the defense against COVID-19 and the aim to reach net-zero emissions, EVs and hybrid vehicles are gaining sudden popularity. Automotive electronics plays a critical role in electric vehicles as they facilitate the electric powertrain system, providing the vehicles with high power. For example, a report by The U.S. Energy Information Administration (EIA) in August 2024 revealed that combined U.S. sales of hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles (BEVs) rose from 17.8% of total new light-duty vehicle (LDV) sales in Q1 2024 to 18.7% in Q2 2024. Consequently, the growing prevalence of electric vehicles is fueling the expansion of the automotive electronics market.

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Which Fast-Growing Trends Are Poised to Disrupt the Automotive Electronics Market?
Prominent corporations in the automotive electronics market are concentrating their efforts on the creation of electronic components like high-amperage surface-mount fuses, in a bid to up the reliability and safety of both automotive and industrial electronic systems. These fuses are essentially small-sized electrical parts that work to protect circuits by managing high current ratings to help avoid overloads or short circuits. For instance, in October 2023, Littelfuse, a manufacturer of circuit protection and electronic components based in the USA, introduced the Ultra-High Amperage SMD Fuse Series, built specifically for circuit protection across diverse applications, with particular attention to automotive and industrial electronics. Key features of these fuses are their compact surface-mount design and their capacity to manage high current ratings. This series contributes to increasing reliability and safety in electronic systems by steering clear of overloads and short circuits. These fuses also come with a low profile, making them suitable for high-density applications, thus a great match for modern electronic devices.

What Are the Emerging Segments in the Automotive Electronics Market?
The automotive electronics market covered in this report is segmented -

1) By Type: Advanced Driver Assistance Systems, Body Electronics, Entertainment, Powertrain, Safety Systems, Other Types
2) By Component: Electronic Control Units, Sensors, Current Carrying Devices, Other Components
3) By Vehicle Type: Light Commercial Vehicles, Passenger Vehicles, Heavy Commercial Vehicles, Other Vehicle Types
4) By Sales Channel: OEM, Aftermarket

Subsegments:
1) By Advanced Driver Assistance Systems (ADAS): Adaptive Cruise Control, Lane Departure Warning, Collision Avoidance Systems
2) By Body Electronics: Power Window Systems, Central Locking Systems, Lighting Control Systems
3) By Entertainment: Infotainment Systems, Audio Systems, Navigation Systems
4) By Powertrain: Engine Control Units (ECUs), Transmission Control Units, Hybrid And Electric Powertrain Systems
5) By Safety Systems: Airbag Control Systems, Electronic Stability Control, Traction Control Systems
6) By Other Types: Telematics Systems, Battery Management Systems, HVAC Control Systems

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Who Are the Global Leaders in the Automotive Electronics Market?
Major companies operating in the automotive electronics market include 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 Amperex* 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

Which are the Top Profitable Regional Markets for the Automotive Electronics Industry?
Asia-Pacific was the largest region in the automotive electronics market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive electronics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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