Automotive Electronics Market Growth Prospects, Key Vendors, and Future Scenario

Posted by Devanshu Shrivastava on December 24th, 2021

The system segment of the automotive electronics market is classified into chassis electronics, driver assistance system, electronic integrated cockpit system, engine electronics, entertainment system, passenger comfort system, passive safety system, transmission electronics, and others, such as car alarm system and keyless entry system.

Among these, the driver assistance system category is expected to showcase the fastest growth during the forecast period, owing to the burgeoning demand for autonomous vehicles around the world. The aforementioned systems are deployed in passenger cars as well as commercial vehicles. As compared to commercial vehicles, automobile manufacturing organizations deployed a higher quantity of automotive electronics in passenger cars due to the burgeoning sales of the latter and rapid technological advancements in such automobiles.

Electronic systems deployed in commercial vehicles and passenger cars consist of current carrying devices and electronic control units (ECUs). All these automotive electronic systems and components are available through the aftermarket and original equipment manufacturers (OEMs). Globally, the Asia-Pacific (APAC) region accounted for the largest share in the automotive electronics market in 2019.

This was on account of the large-scale automobile production in Japan, China, India, and South Korea, owing to the abundant availability of raw materials and affordable labor in these countries. Moreover, the soaring popularity of electric vehicles (EVs), on account of the mounting air pollution levels, will also supplement the market growth in the region. 

Therefore, the soaring automobile sales, increasing demand for EVs and autonomous vehicles, and rising public and government concerns about road accident crashes will propel the integration of automotive electronics in the upcoming years.   

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Devanshu Shrivastava

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Devanshu Shrivastava
Joined: January 31st, 2020
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