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Automotive Electronics Market Overview by Top Players, Regions, Segments, Demand and Forecast till 2032

 Demand for automotive electronics is expected to reach US$ 300,332.43 million in 2022 and is projected to increase at a CAGR of 7.30% to reach US$ 607,574.4 million by 2032. The stricter safety regulations, which are encouraging innovation and development of sensor technologies and signal processing algorithms, are credited with growth.

Automotive electronics comprises of electrically operated systems deployed in vehicles. Electronic fuel injection, airbag, advanced driver assistance and infotainment are some of the areas where automotive electronic systems is primarily used in order to increase the overall efficiency of the combined system. As electric and hybrid vehicles are gaining traction in the market, these systems are likely to become key focus area of electronic system providers. Technological advancements such as electrical active suspensions and power trains for electric vehicles in automotive industry are likely to increase the application areas for power electronic system in automotive sector.

Moreover, government safety programs such as New Car Assessment Programs (NCAP) throughout the world are primarily targeting to increase the overall road safety by pushing towards the development and evolution of technologies in order to reduce the impact and likelihood of accidents for example improvement in airbag and stability of control systems. As per estimation, around 40% of on-board components throughout a car are electronic based and this percentage is most likely to increase with improvement in the current regulations governing automotive industry.

Automotive Electronics Market: Drivers and Challenges

Increasing safety concerns leading to advanced safety systems is primarily expected to drive the global automotive electronics market. Moreover, powertrains, wheels, parking assistance, and electrical suspensions are the major application areas most likely to spur the growth of the global automotive electronics market. Also, increasing environmental sustainability plus rising demand of cutting edge infotainment systems will increase the demand for complex electronics systems thereby driving the global automotive electronics market. Protection of complex electronic systems from damaging electrical hazards and stringent government regulation regarding vehicle safety are some of the major challenges facing designers in the automotive electronics industry.

Automotive Electronics Market: Overview

By region the automotive electronics market is segmented into North America, Latin America, Asia Pacific, Europe and Middle East & Africa. The global automotive electronics market is expected to grow with significant rate over the forecast period. Developed economies such as U.S. and U.K. is anticipated to play major role in first half of forecast period while during the second half of the forecast period emerging economies such as India, China and Brazil is forecast to surge the demand for automotive electronics

Automotive Electronics Market: Key Players

Some of the major players identified across the global automotive electronics market includes OMRON Corporation, Robert Bosch GmbH, Infineon Technologies AG, HGM Automotive Electronics, Hitachi, Ltd., Delta Electronics, Inc., Atotech Deutschland GmbH and ZF TRW. Major players in automotive electronics systems are partnering with OEM’s. Key players across the value chain are focusing primarily towards miniaturization, lightweight materials, electrification and intelligence, thus considering automotive electronics as a key factor of competing through differentiation.

Automotive Electronics Market: Segmentation

Based on application the global automotive electronics market can be segmented into:

  • Advanced Driver Assistance Systems (ADAS)
  • Body Electronics
  • Entertainment
  • Powertrain
  • Safety Systems

The global automotive electronics market can be segment by vehicle type:

  • Light Commercial Vehicles
  • Passenger Vehicles
  • Heavy Commercial Vehicles

By Geography, global automotive electronics market can be segmented into:

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • Middle East and Africa (MEA)

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

For More Info@ https://www.futuremarketinsights.com/reports/automotive-electronics-market

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