Ocean View, DE -- (SBWIRE) -- 06/17/2020 -- The global automotive electronics market size from passenger cars sector will rise considerably due to the growing technological enhancements like infotainment and comfort systems and driver assistance to provide a better travelling experience to the customers. Moreover, increasing customer spending capabilities and an upsurge in income will escalate the sales of passenger vehicles. Estimates claim that passenger cars segment will hold 85% of automotive electronics market share by 2024.
Commercial transport is experiencing wide popularity in the automotive electronics market owing to innovative telematics systems like ADAS, powertrain and infotainment systems, which require robust and advanced electronic systems to offer optimized performance and longer life, to offer superior capabilities as opposed to conventional buses and trucks. Further, the increase in imports & exports demands efficient transport and delivery service which will further fuel the manufacture of commercial automobiles, driving market expansion.
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Automotive infotainment systems are gaining high popularity in the global automobile industry due to the provision of value-added features, such as large display screens, to accomplish numerous vehicle features. Advanced infotainment systems, such as digital radio, voice recognition, rear-seat entertainment, and high-end radios, provide better comfort and luxury to passengers. Several OEMs are focusing on collaborating with these automotive component manufacturers to deliver advanced systems, such as parking assistance, head-up displays, powertrain, etc., in newly developed vehicles to enhance the driving experience. For instance, in September 2017, Bosch announced its partnership with Nikola Motor Company for the development of commercial vehicles powertrain products.
Moreover, connected vehicles are attributed to enhance the implementation of advanced sensors, switches, and body electronic systems to increase safety, mobility, and environmental benefits. Increasing government concerns and initiatives that support the development of connected vehicles to increase road safety are accelerating industry growth. For instance, the U.S. Department of Transportation has proposed that connected car technology and vehicular communication must be a legal requirement. According to the law that may be approved in 2019, automakers will be required to integrate V2V communication with their new cars in 2021.
Some major findings of the automotive electronics market report include:
- Technological innovations in automotive electronics systems aid in increasing vehicle efficiency and improving user connectivity
- Stringent regulatory framework in North America and Europe related to vehicle safety and road safety is creating several growth opportunities for the automotive electronics market
- Increasing demand for safety and comfort feature will boost the implementation for the ADAS application in modern vehicles
- Growing awareness of electric vehicles in China is likely to enhance the industry. In 2018, the Chinese government introduced subsidy payment for EV consumers depending upon the vehicle range.
- Moreover, autonomous systems in vehicles are gaining high popularity among consumers and OEMs. Companies including BMW, Nissan, Volvo, and Mercedes are slowly introducing autonomous features, such as auto-parking and departure warning systems, in their latest vehicles.
- However, declining automotive production in the U.S. may hinder the industry growth
- Prominent companies present in the industry include Magna International, Continental AG, Bosch Group, Altera Corporation, Infineon Technologies, Lear Corporation, Delphi Automotive, Hitachi Automotive Systems, Texas Instruments, ZF Friedrichshafen AG, Voxx International Corporation, Faurecia, Hyundai Mobis, Valeo, etc.
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Table of Contents (ToC) of the report:
Chapter 4 Automotive Electronics Market, By Application
4.1 Key trends by application
4.2 ADAS
4.2.1 Market estimates and forecast, 2014 - 2030
4.2.2 Market estimates and forecast, by product, 2014 – 2030
4.2.2.1 Adaptive cruise control
4.2.2.2 Blind spot detection
4.2.2.3 Parking assistance
4.2.2.4 Automated emergency braking
4.2.2.5 Night vision
4.2.2.6 Lane Departure Warning
4.3 Body electronics
4.3.1 Market estimates and forecast, 2014 - 2030
4.4 Infotainment & communication
4.4.1 Market estimates and forecast, 2014 - 2030
4.4.2 Market estimates and forecast, by product, 2014 – 2030
4.4.2.1 Audio
4.4.2.2 Display
4.4.2.3 Navigation
4.4.2.4 Head-up display
4.4.2.5 Communication
4.5 Powertrain
4.5.1 Market estimates and forecast, 2014 - 2030
4.5.2 Market estimates and forecast, by product, 2014 – 2030
4.5.2.1 Engine controllers
4.5.2.2 Transmission drivetrain
4.5.2.3 Exhaust
4.5.2.4 xEV
4.6 Safety systems
4.6.1 Market estimates and forecast, 2014 - 2030
Chapter 5 Automotive Electronics Market, By Vehicle Type
5.1 Key trends by vehicle type
5.2 Passenger cars
5.2.1 Market estimates and forecast, 2014 - 2030
5.3 Commercial vehicles
5.3.1 Market estimates and forecast, 2014 - 2030
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