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Automotive Electronics Market Size Worth USD 144.19 billion, Globally, by 2026 at 6.1% CAGR

·5 min read
Fortune Business Insights
Fortune Business Insights

The Automotive Electronics market size is expected to grow from USD 91.06 billion in 2018 to USD 144.19 billion by 2026; it is estimated to grow at a CAGR of 6.1% from 2019 to 2026.

Pune, India, June 28, 2022 (GLOBE NEWSWIRE) -- The global automotive electronics market size is expected to reach USD 144.19 billion by 2026, exhibiting a CAGR of 6.1% during the forecast period. The growing technological advancement in automotive for enhanced safety, entertainment and comfort features will contribute positively to the automotive electronics market growth during the forecast period. Moreover, the integration of Internet of Things (IoT), artificial intelligence, and cloud computing in automobiles will spur opportunities for the automotive electronics revenue in the forthcoming years, mentioned in a report, titled “Automotive Electronics Market Size, Share & Industry Analysis, By Application Type (Advanced Driver Assistance System [ADAS], Body Electronics, Power Electronics, and Infotainment), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, and Electric Vehicle) and Regional Forecasts, 2019-2026” the market size stood at USD 91.06 billion in 2018.

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.


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Report Scope & Segmentation:

Report Coverage

Details

Forecast Period

2019-2026

Forecast Period 2021 to 2028 CAGR

6.1%

2026 Value Projection

USD 144.19 billion

Base Year

2018

Market Size in 2018

USD 91.06 billion

Historical Data for

2015-2017

No. of Pages

200

Segments covered

Advanced Driver Assistance System (ADAS), Body Electronics, Power Electronics, and Infotainment

Growth Drivers

Rising Adoption of Electric Vehicles to Boost Market Growth

Presence of Major Automotive Giants to Augment Growth in Europe


Market Drivers-

Rising Adoption of Electric Vehicles to Boost Market Growth

The shift from conventional cars to electric vehicles will subsequently aid the development of the market. The preference towards electric vehicles owing to its capabilities such as high battery life, energy-efficient, advanced electronic systems, zero direct carbon emission. The companies operating in the market are investing vastly in the development of high-end hybrid cars. The growing government regulations to curb carbon emissions will positively promote the automotive electronics market share. Also, the consumer inclination towards electric vehicles equipped with parking assistance, head-up display, and powerful infotainment system will bolster the healthy growth of the market during the forecast period.


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Market Restraint:

High-Price of Electronic Systems to Diminish Business Potential

The high production cost of electric vehicles will simultaneously escalate the overall cost of hybrid cars, which, in turn, will hamper the growth of the market during the forecast period. The rising popularity of electric vehicles (EV) has led to the development of advanced driver assistance systems (ADAS) and infotainment systems. The massive investment in R&D activities by companies along with the high cost of lithium-ion batteries and software used in vehicles will consequently surge the manufacturing cost, thus, leading to costly EVs. Besides, the complexities of electric vehicles and high maintenance and replacement cost will dampen the automotive electronics market trends.

Regional Segmentation-

Presence of Major Automotive Giants to Augment Growth in Europe

Asia Pacific generated a revenue of USD 43.49 in 2018 and is predicted to grow profoundly during the forecast period owing to the flourishing automobile industry. The presence of various automotive manufacturers in India, China and Japan will aid the expansion of the market in Asia Pacific. The rising production capabilities of manufacturing facilities will propel the growth of the market in the forthcoming years. The increasing awareness about the advantages of EVs will contribute positively to the automotive electronics market growth. Europe is predicted to expand radically in the foreseeable future owing to the existence of automobile giants such as Volkswagen, Skoda, Audi, BMW, Daimler. In addition, the rising focus of the European government to curb carbon emissions and ensure safety features in every vehicle will encourage the healthy growth of the market during the forecast period.


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List of Players Operating in the Automotive Electronics Market are as follows:

  • Continental AG

  • Robert Bosch GmbH

  • SONY Corporation

  • Aptiv PLC

  • Hyundai Mobis

  • ZF Friedrichshafen AG

  • Autoliv Inc.

  • Magna International Inc.

  • Aisin Seiki Co. Ltd

  • Philips N.V.

Automotive Electronics Market Segmentation:

By Application Type:

  • Advanced Driver Assistance System (ADAS)

  • Body Electronics

  • Power Electronics

  • Infotainment

By Vehicle Type

  • Passenger Car

  • Light Commercial Vehicle

  • Heavy Commercial Vehicle

  • Electric Vehicle


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Table of Content:

1. Introduction

1.1. Research Scope

1.2. Market Segmentation

1.3. Research Methodology

1.4. Definitions and Assumptions

2. Executive Summary

3. Market Dynamics

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities

4. Key Insights

4.1. Key Industry Developments - Merger, Acquisitions, and Partnerships

4.2. Porter’s Five Forces Analysis

4.3. SWOT Analysis

4.4. Technological Developments

4.5. Value Chain Analysis

4.6. Impact of COVID-19 on Automotive Electronics Market

5. Global Automotive Electronics Market Analysis, Insights and Forecast, 2017-2028

5.1. Key Findings / Summary

Continued…


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