Automotive Electronics Market Report 2023-2028: Top Companies Overview, Business Growth, Opportunity and Forecast

PRESS RELEASE

Published March 21, 2023

According to the latest report by IMARC Group, titled “Automotive Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global automotive electronics market sizereached US$ 301.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 452.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028. Automotive electronics refer to electronic-operated systems that are generally equipped in automobiles. They are specially designed electronics intended for on- and off-road vehicle utilization, considered essential components in automotive architecture. Automotive electronics comprise light commercial, passenger, and heavy commercial vehicles. In addition, they are mainly used in the functioning of electronic fuel injection, driver assistance, and infotainment system to improve the efficiency of the vehicle. Automotive electronics also comprise satellite-controlled devices for traffic surveillance and diagnostic tools to ensure optimum fuel utilization and maintain engine health. Consequently, it finds extensive applications across the globe.

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Industry Growth:

The rising technological innovations in the automotive sector are primarily augmenting the automotive electronics market. Furthermore, the introduction of autonomous or driverless cars that offer a self-driven experience to the customer and the launch of cost-efficient electric vehicles with enhanced features are positively influencing the global market. Apart from this, the shifting individual preferences toward hybrid and luxury vehicles equipped with in-vehicle entertainment devices offering a more sophisticated and interactive user experience are acting as significant growth-inducing factors. Moreover, the widespread adoption of numerous advanced computing technologies, including parking assistance, electrical suspensions, braking and steering systems, to reduce accidents and fatalities, is significantly increasing their demand among manufacturers and consumers, which is also bolstering the market growth. Besides this, several product innovations, such as active-window displays, remote vehicle shutdown, exhaust emission control, and reconfigurable body panels, are further catalyzing the global market. Additionally, the inflating disposable income levels of the masses, the escalating demand for in-car infotainment systems, and extensive R&D activities conducted by key players are expected to drive the automotive electronics market in the coming years.

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Key Market Segmentation:

Competitive Landscape with Key Players:

OMRON CORP(OMRNY)
Robert Bosch GmbH
Infineon Technologies AG
HGM Automotive Electronics
Hitachi, Ltd.
Delta Electronics, Inc.
Atotech Deutschland GmbH
TRW Automotive
Continental AG
Bosch Group
Altera Corporation
Lear Corporation
Aptiv
Texas Instruments
Atmel Corporation
Altera Corporation
Denso Corporation

Also, Read Top Automotive Electronics Companies worldwide:

Breakup by Component:

Electronic Control Unit
Sensors
Current Carrying Devices
Others

Breakup by Vehicle Type:

Light Commercial Vehicles
Passenger Vehicles
Heavy Commercial Vehicles
Others

Breakup by Distribution Channel:

OEM
Aftermarket

Breakup by Application:

ADAS
Infotainment
Body Electronics
Safety Systems
Powertrain

Breakup by Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

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