The
global automotive
electronics market is expected to reach USD 279.96 billion by
2020, according to a new study by Grand View Research, Inc. Growing demand for
advanced driver assistance systems and premium audio systems are some of
factors expected to drive the automotive electronics market through the
forecast period. Continuous growth in the number of electronics components used
by automotive manufacturers has spotlighted new opportunities for suppliers.
Emergency call systems, alcohol ignition interlocks and accident recorder
systems are various technologies that are expected to spur market growth through
the forecast period.
High
level of complexity and lack of awareness about the overall understanding of
the subsystems may curb market growth. Various complexities include tolerance
stackup, mechatronic interaction and harsh operating environment. In order to
meet the rising complexity issues, OEMs are focusing on product innovation such
as reducing weight, and decreasing number of modular platforms. Additionally,
increasing trend towards in-vehicle infotainment is expected to yield
opportunities for the automotive electronics market.
Browse full research
report on Global Automotive Electronics Market: http://www.grandviewresearch.com/industry-analysis/automotive-electronics-industry
Further
key findings from the study suggest:
- Increased
penetration towards electric vehicles (EV) and hybrid vehicles (HEV) is
expected to increase automotive electronics component demand. This is
attributed to reduced product cost associated with emission controls and
enhanced lithium-ion battery cooling capabilities.
- Application
segments include body electronics, powertrain, ADAS, safety and
infotainment. ADAS is expected to exhibit high growth over the next six
years. This growth is attributable to stringent safety regulations leading
to the large-scale adoption of active safety systems in modern cars.
- Proliferation
of in-car infotainment systems owing to eco-efficiency, security and
comfort factors is also estimated to positively impact automotive
electronics market growth. Demand for in-car data storage to support sophisticated
in-car features is expected to be the key growth driver for the
infotainment systems.
- North
America was the largest regional market in 2013. Asia Pacific is expected
to witness high growth due to rising need for reduced production cost,
customized vehicle features, meet stringent standards and increase product
quality. Countries such as China and India are expected to favorably
impact regional market growth.
- Notable
companies operating in the market include Continental AG, Bosch, Delphi,
Denso, Autoliv, TRW Automotive and Johnson Controls. Key growth strategies
employed include building technology partnerships with other participants
in the ecosystem.
Read our blogs of this
category by Grand View Research: http://www.grandviewresearch.com/blog/automotive-electronics-market
Grand
View Research has segmented the global automotive electronics market on the
basis of application and region:
Automotive Electronics
Application Outlook (Revenue, USD Billion, 2012 – 2020)
- ADAS
- Body Electronics
- Infotainment
- Powertrain
- Safety Systems
Automotive Electronics
Regional Outlook (Revenue, USD Billion, 2012 – 2020)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Japan
- RoW
- Brazil
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com
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