Automotive Electronics Market Growth, Industry Size and Forecast (2019-2024)

According to the latest report by IMARC Group titled, “Automotive Electronics Market Industry Report and Forecast 2019-2024”, the is expected to grow at a CAGR of around 8% during 2019-2024.

Automotive electronics are usually added in on-road as well as off-road vehicles like motorcycles, electric cars and forklifts to enhance the overall efficiency of the vehicle. For example, the anti-lock braking system (ABS) averts cars from skidding on slopes and electronic car security lock provides improved security by employing remote-controlled locks and a central locking system.

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The increasing awareness among consumers in confluence with initiatives undertaken by governments in several countries has boosted the sales of safety systems in vehicles. Apart from this, the easy availability of advanced automotive electronics at affordable prices and the rising demand for luxury vehicles are also contributing to the growth of the automotive electronics market globally. Additionally, a shift towards hybrid as well as luxury vehicles that are equipped with in-vehicle entertainment devices is spurring the demand for automotive electronics around the world. Further, advanced computing technologies including electrical suspensions, parking assistance, braking and steering systems are incorporated in these cars to minimize accidents and fatalities.

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Key Market Segmentation:

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

Regional Insight:

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• Latin America

Competitive Landscape:

The report has also examined the competitive landscape of global automotive electronics market. Some of the major players in the market are Omron Corporation, 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, etc.

Key highlights of the report:

• Market Performance

• Market Outlook

• Porter’s Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Competitive Structure

• Profiles of Key Players

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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