Global Automotive Electronic Market Size By Component (Electronic Control Unit, Sensors, Current-Carrying Devices), By Application (ADAS, Infotainment, Body Electronics), By Geographic Scope And Forecast

Automotive Electronic Market Size And Forecast

Automotive Electronic Market size was valued at USD 4.29 Billion in 2022 and is projected to reach USD 9.36 Billion by 2030 , growing at a CAGR of 7.39% from 2023 to 2030. Over the upcoming years, the Automotive Electronic Market is anticipated to be driven by many factors, including the rising popularity of electric and hybrid vehicles, advancements in vehicle technology, and government initiatives in developed nations. The market is comprehensively evaluated in the study of the global automotive electronics industry. Key market segments, trends, drivers, restraints, the competitive landscape, and other crucial factors are all thoroughly examined in the report.

Global Automotive Electronic Market Definition

The electronically operated systems utilized in vehicles are referred to as automotive electronics. To increase the overall effectiveness of the integrated system, these systems are used in infotainment, airbag, advanced driver assistance, and electronic fuel injection. Compared to business electronics, automotive electronics can withstand more extreme temperature ranges. These electronic systems are used in a variety of industries, such as those that deal with the engine, transmission, chassis, driver assistance, entertainment systems, and electronic integrated cockpit systems. The market is divided into Electronic Control Units, Sensors, Current-Carrying Devices, and Other categories based on the component. Applications of automotive electronics are ADAS, Infotainment, Body Electronics, Safety Systems, and Powertrains.

Global Automotive Electronic Market Overview

Over the upcoming years, the Automotive Electronic Market is anticipated to be driven by several factors, including the rising popularity of electric and hybrid vehicles, advancements in vehicle technology, and government initiatives in developed nations. Additionally, a boosted market is anticipated in the upcoming years due to the rising use of modern safety systems like autonomous emergency braking systems and emergency call systems, rising disposable income, and rapid urbanization. Additionally, it is anticipated that rising R&D activities for creating high-performance components to enhance fuel efficiency and pollution control will drive the market during the anticipated period. The market might not be able to expand due to some constraints and challenges. Loss of vital vehicle data due to problems with car electronics might hurt the industry as a whole globally.

Global Automotive Electronic Market Segmentation Analysis

The Global Automotive Electronic Market is Segmented on the basis of Component, Application, And Geography.

Automotive Electronic Market, By Component

• Electronic Control Unit
• Sensors
• Current-Carrying Devices
• Others

Based on Component, The market is bifurcated into the Electronic Control Unit, Sensors, Current-Carrying Devices, and Others. The Current-Carrying Devices segment is expected to hold the largest market share. The factors can be attributed to the high cost of components such as wiring harnesses and connectors. The sensors segment is likely to grow with the highest CAGR owing to the growing consumer demand for comfort, convenience, & security and favorable government regulations on emission standards that have triggered the demand for sensors such as IR sensors, and O2 sensors.

Automotive Electronic Market, By Application

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

Based on Application, The market is bifurcated into ADAS, Infotainment, Body Electronics, Safety Systems, and Powertrain. Safety Systems are anticipated to have the highest CAGR in the forecasted period. The factors can be attributed to the government regulations that aim to minimize road accidents and loss of passenger lives, coupled with the growing need for Transportation Management Systems (TMS), especially across the logistic sectors.

Automotive Electronic Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

Based on Regional Analysis, The global Automotive Electronic Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share in the market will be dominated by the Asia Pacific owing to the high production of vehicles in countries like China. The country was the leader in passenger car production and sales with 23.5 million and 23.7 million respectively in 2018.

Key Players

• The "Global Automotive Electronic Market" study report will provide valuable insight with an emphasis on the global market including some of the major players such as
• Infineon Technologies AG, Maxim Integrated Products Inc., ON Semiconductor Corp, OMRON Corporation, Hitachi Ltd., Texas Instruments Inc., ST Microelectronics N.V., NXP Semiconductor NV, Robert Bosch GmbH, and ZF Friedrichshafen AG.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• On March 2021, In the United States, LG Electronics and Luxoft launched "Auto," a new car electronics joint venture that will concentrate on the country's infotainment sector.
• On August 2021, Maxim Integrated Products, Inc. has been fully acquired by Analog Devices, Inc., as previously stated. With pro forma trailing twelve-month revenue of over $9 billion1, industry-leading margins, and free cash flow of over $3 billion1, the acquisition significantly strengthens ADI's position as a high-performance analog semiconductor manufacturer.
• On April 2020, The Closing of the Acquisition of Cypress Semiconductor Corporation has been announced by Infineon Technologies AG. As of the Closing, the San Jose-based business is now a part of Infineon.