Automotive Electronics Market Size, Share, Growth, Trends, Demand 2032

Automotive Electronics Industry Prospective:

The global automotive electronics market size was worth around USD 259.87 billion in 2023 and is predicted to grow to around USD 510.90 billion by 2032 with a compound annual growth rate (CAGR) of roughly 7.80% between 2024 and 2032.

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High penetration of electric and hybrid vehicles is predicted to become a major focus area for electronic system suppliers. Automotive electronics include electrically driven systems built into vehicles. Airbags, electronic fuel injection, infotainment, and ADAS are major areas where automobile electronic systems are used, to optimize the overall efficiency of the combined systems. Technological advancements, such as powertrains for EVs and electrical active suspensions in the automobile industry, are predicted to fuel the application space for power electronic systems in the automotive sector.

Automotive Electronics Market Growth Analysis

The global automotive electronics market is primarily driven by the growing demand for premium audio systems paired with advanced driver assistance systems. In addition, the introduction of new technologies, such as emergency call systems, increasing concerns for safety and security in vehicles, alcohol ignition interlocks, and accident recorder systems are likely to drive the growth of this global market during the estimated time period. The continuous use of various electronic components by automobile manufacturers has generated new business opportunities for the suppliers. The high purchasing power of consumers and changes in their lifestyles are expected to support the automotive electronics market in the near future. Contrarily, the lack of awareness about the benefits of safety systems in vehicles might limit the automotive electronics market expansion. Nonetheless, the growing trend of in-vehicle infotainment and technological advancements witnessed across the automobile sector are likely to create new growth horizons for the automotive electronics market in the near future.

The report gives transparent views of the automotive electronics market. We have included a detailed competitive situation and portfolio of leading vendors that are operating in the automotive electronics market. To understand the competitive state in the automotive electronics market, an analysis of Porter’s Five Forces model for the automotive electronics market has also been covered. The study also offers a market attractiveness analysis, in which application and regional segments are marked based on their growth rate, market size, and general attractiveness for the automotive electronics market.

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The report provides a company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, product, and expansion of major participants involved in the market on a regional basis.

By application, the automotive electronics market is segmented into ADAS, powertrain, safety systems, infotainment, and body electronics. In 2023, the safety system segment held the largest market share. Initiatives taken by regulatory boards of different countries to prevent accidents are projected to fuel this segment’s growth and simultaneously that of the automotive electronics market. The ADAS and infotainment segments are likely to emerge as the most attractive in the upcoming years.

In 2023, North America dominated the regional market for automotive electronics, followed by Europe. The Asia Pacific is likely to be the fastest-growing regional market and hold the largest share in the forecast time period. Schemes launched by the Government of China for safety assessments, the presence of significant manufacturers, and the rising need for minimizing production costs are some of the major growth drivers for the Asia Pacific region in the automotive electronics market. The Middle Eastern and African and Latin American markets are also predicted to grow significantly in the upcoming years, due to the shift in the production bases of the manufacturers to remote areas in these regions.

Automotive Electronics Market: Report Scope

The regional segmentation comprises the current and forecast demand for the Middle East and Africa, North America, Europe, Latin America, and the Asia Pacific with its further classification into the U.S., the UK, France, Germany, India, China, Japan, and Brazil for the automotive electronics market.

Automotive Electronics Market: Competitive Analysis

The competitive profiling of key players in the automotive electronics market includes the company and financial overviews, business strategies adopted by them and their recent developments, and products offered by them which can help in assessing competition in the market. The global automotive electronics market is dominated by players like:

• Yamaha Corporation
• Sanyo Electric Co., Ltd.
• Philips N.V.
• Bosch
• TRW
• Johnson Controls
• Denso Corporation
• Sony Corporation
• Continental AG
• Delphi Automotive PLC

This report segments the global automotive electronics market as follows:

Global Automotive Electronics Market: Application Segment Analysis

• ADAS
• Body Electronics
• Infotainment
• Powertrain
• Safety Systems

Global Automotive Electronics Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa