Automotive Electronics Market Business Analysis, Growth and Forecast Report

Posted by Devanshu Shrivastava on February 16th, 2021

The escalating demand for electric vehicles (EVs), growing adoption of autonomous vehicles, and increasing implementation of government regulations about vehicle safety and fuel-efficiency will drive the automotive electronics market at a CAGR of 9.3% during the forecast period (2020–2030). The market stood at 5.7 billion in 2019 and it is expected to reach 5.3 billion by 2030.

Moreover, the growing usage of advanced driver assistance systems (ADAS) is creating ample growth opportunities for market players.At present, the automotive electronics market is observing a key trend of incorporation of integrated cockpit systems in vehicles. An integrated cockpit provides enhanced convenience in comparison to traditional cockpits, by using numerous screens to display vehicle data. Unlike the traditional cockpits, drivers can electronically control heads-up display (HUD); smart heating, ventilation, and air conditioning (HVAC); embedded virtualization; navigation; voice assistant; and infotainment systems, by installing integrated cockpit systems.

Due to this, automakers like Tata Motors, General Motors Company, BMW, and Toyota Motor Company have started integrating these cockpits in their models. The system segment of the automotive electronics market is categorized into chassis electronics, electronic integrated cockpit system, passive safety system, entertainment system, passenger comfort system, driver assistance system, transmission electronics, engine electronics, and others.

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Among these, chassis electronics was the largest category in the market in 2019, as it forms the vital part of every electronic system in a vehicle. Governments of several countries have mandated the installation of chassis electronics for brake assist systems to reduce road accident cases. Further, the driver assistance system category will display the highest growth in the forecast period, owing to the rising adoption of autonomous vehicles, worldwide.

This market research report provides a comprehensive overview of the market

• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings