USD 225.4 billion
Automotive Electronics Market Size, Share, Growth Analysis, By Component(Electronic Control Unit, Sensors, Current Carrying Devices, Others), By Vehicle Type(Passenger Cars, Commercial Vehicles, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2165 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
75
Automotive Electronics Market Insights
Automotive Electronics Market size was valued at USD 225.4 billion in 2019 and is poised to grow from USD 244.9 billion in 2023 to USD 468.2 billion by 2031, growing at a CAGR of 8.6% in the forecast period (2024-2031).
Automotive industry refers to all businesses and initiatives concerned with the production of motor vehicles, including the majority of its parts, such as their bodywork and engines, but excluding their tyres, batteries, and gasoline. Passenger cars and light trucks, including pickups, vans, and sport utility vehicles, are the main products of the sector. Despite being crucial to the business, commercial vehicles (such as delivery trucks and huge transport trucks, sometimes known as semis), are only second. The articles automobile, truck, bus, and motorbike cover the design of contemporary automobiles, while the articles gasoline engine and diesel engine describe automobile engines. Transportation, History of: The Rise of the Vehicle discusses the development of the automobile.
The adoption of IoT and AI in automobiles, the availability of automated vehicles, the desire for in-vehicle safety features, and the rise in entertainment feature demand are some of the factors that are boosting the automotive electronics market share, according to the industry. On the other hand, the low adoption of automotive electronics in recently industrialized nations and the rise in the overall cost of the finished product as a result of the integration of automotive electronics restrain the market's expansion. Additionally, the market for automotive electronics is anticipated to benefit greatly from investments made in smart grids for autonomous car technology.
US Automotive Electronics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Passenger Cars
Fastest Growth
Commercial Vehicles
Growth Rate
8.6% CAGR
Global Automotive Electronic Control Unit Market 2022-2031 ($ Bn)
Country Share for North America Region- 2022 (%)
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Automotive Electronics Market Segmental Analysis
Global Automotive Electronics Market is segmented based on the Component, Vehicle Type, and region. Based on the Component, the Global Automotive Electronics Market is segmented as Electronic Control Unit, Sensors, Current Carrying Devices, and Others. Based On Vehicle Type, the Global Automotive Electronics Market is segmented as Passenger Cars, Commercial Vehicles, and Others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Automotive Electronics Market Analysis by Product
Based on the Product, in 2021, the current carrying devices market accounted for about 41% of total revenue. Products like electrical switches, fuses, connectors, and wiring harnesses are examples of current carrying devices. The huge market share of current-carrying devices in the component segment is due to the high cost and numerous electronic components used in vehicles, including electronic switches, fuses, connectors, and wiring harness. The increasing desire for connection, convenience, and safety features in both passenger automobiles and commercial vehicles can also be credited with the segment's growth.
Automotive Electronics Market Analysis by Vehicle Type
Global Automotive Electronics market has been segmented on the basis of vehicle type as Passenger Cars, Commercial Vehicles, and others. Among these, on account of the rising demand for improved safety systems, electrification, and infotainment systems in vehicles, the passenger car sector accounted for over 85% of the market share for automotive electronics in 2021 and is predicted to experience a 7% CAGR through 2028. In order to promote road safety, a number of countries around the world have introduced new rules requiring ADAS technology and safety features to be incorporated into next passenger car models, which is driving the market during the forecast market.
Global Automotive Electronic Control Unit Market Size By Type, 2022 (%)
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Automotive Electronics Market Regional Insights
Asia Pacific held the largest share of the Automotive Electronics market. It is predicted to maintain its lead throughout the forecast period with a CAGR higher than 8.3%. Due to the growing electronic component manufacturing operations, nations including Taiwan, South Korea, Malaysia, and Thailand have considerably contributed to the market expansion. China and Japan supply the majority of the automotive electronics needed in the Asia Pacific region. However, the small number of automotive electronics producers presents a fantastic business opportunity for regional suppliers to take advantage of the domestic demand, making the rest of Asia Pacific a desirable location for investments.
Additionally, North America is anticipated to increase significantly because of the region's high level of auto production and the presence of companies like TRW Automotive, Continental Corporation, and Robert Bosch
Global Automotive Electronic Control Unit Market By Geography, 2022-2031
- Largest
- Fastest
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Automotive Electronics Market Dynamics
Automotive Electronics Market Driver
- The automotive electronics industry is anticipated to be driven by rising demand for cutting-edge vehicles and growing acceptance of safety systems to reduce traffic fatalities. The market will also be driven by stringent government requirements on fuel emission standards. In addition, over the coming few years, the switch to more advanced safety systems is anticipated to support market growth globally. Alcohol ignition interlocks, emergency call systems, and accident data recorder systems are a few of these cutting-edge safety technologies.
- The use of efficient powertrain solutions will expand as the demand for fuel injection technology in passenger and commercial vehicles rises in response to concerns about fuel consumption and energy use. The market for automotive electronics is expanding as a result of several automakers expanding their research and development efforts for new powertrain solutions to satisfy strict low-carbon emission laws.
Automotive Electronics Market Restraint
- Raising concerns about the protection of electronics devices from harm and strict government regulations pertaining to vehicle safety were the main barriers to the Automotive Electronics Revenue Share during the analysis. High maintenance and replacement costs will restrain the market growth. Growing worries about the security of technological gadgets and onerous government laws governing auto safety are the business's main barriers. The Automotive Electronics Market Share, Automotive Electronics Market Growth, and Automotive Electronics Market Trends will be constrained by high maintenance and replacement costs.
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Automotive Electronics Market Competitive Landscape
Global Automotive Electronics market is relatively fragmented, with a high level of competition. Companies use a variety of market strategies, including new launches, product development, teamwork, partnerships, and others, to expand their markets. In order to test driverless vehicles, Nvidia released a simulator that uses cloud computing resources. To test the vehicle's response time, the programme can simulate sunset sunlight, snowstorms, risky circumstances, and poor transportation conditions.
Automotive Electronics Market Top Player's Company Profiles
- Robert Bosch GmbH
- Continental AG
- Delphi Technologies
- Denso Corporation
- Infineon Technologies AG
- Texas Instruments Inc.
- Panasonic Corporation
- Valeo SA
- Aptiv PLC
- STMicroelectronics NV
- NXP Semiconductors NV
- Hitachi Ltd.
- Mitsubishi Electric Corporation
- Lear Corporation
- Yazaki Corporation
- Faurecia SA
- Magneti Marelli S.p.A.
- ZF Friedrichshafen AG
- Hella GmbH & Co. KGaA
- TE Connectivity Ltd.
Automotive Electronics Market Recent Developments
- In January 2022, One of the biggest makers of semiconductors for vehicles, Texas Instruments, announced a new 77-GHz radar sensor able to detect objects up to 40% farther away from the vehicle when compared to traditional radar sensors.
- In January 2022, SMK Electronics to Showcase New Family of Automotive-Grade Electronic Components at CES 2022.
Automotive Electronics Key Market Trends
- Technology advancements in the automotive electronics industry are a key trend. The market is expanding as a result of the advent of driverless or autonomous automobiles that give users a self-driving experience and the release of affordable electric vehicles with improved features. The need for automotive electronics is also being increased by a move toward hybrid and premium automobiles outfitted with in-car entertainment systems that provide a more sophisticated and engaging user experience. In addition, the use of advanced computing technologies to prevent accidents and fatalities, such as parking assistance, electrical suspensions, braking, and steering systems, is sharply rising demand for them among manufacturers and consumers.
- In addition, the market is being stimulated by product innovations like active window displays, remote vehicle shutdown, exhaust emission control, and reversible body panels.
Automotive Electronics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Automotive Electronics Market Analysis, in terms of vehicle type, Due to growing demand for improved safety systems, electrification, and infotainment systems in vehicles, the passenger car sector, which held over 85% of the automotive electronics market share in 2020, is expected to see a 7% CAGR through 2027. The market forecast is being driven by new laws that several countries around the world have introduced requiring the incorporation of ADAS technologies and safety features into incoming passenger vehicle models.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 225.4 billion |
| Market size value in 2031 | USD 468.2 billion |
| Growth Rate | 8.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Electronics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Electronics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Electronics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Electronics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Electronics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Electronics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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