Which Segment Accounted for The Largest Automotive Electronics Market Share?

Automotive Electronics Industry Overview

The global automotive electronics market size is expected to reach USD 392.49 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 7.9% from 2021 to 2028. Increasing safety and security concerns to curb the rising road fatalities in developed and developing economies across the globe are the factors anticipated to drive the demand for automotive electronics.

The availability of advanced safety systems with features such as blind-spot detection and automatic emergency braking at lower costs has led to the increased implementation of these systems. This, in turn, is expected to boost the adoption of automotive ECUs and sensors used in these systems, subsequently fueling the market growth. Moreover, these features adhere to government rules and regulations and are anticipated to pave the way for adopting autonomous vehicles. The ECUs and sensors are used for controlling the electronic functions in these vehicles, thereby increasing the demand for these components.

The rising demand for electric vehicles, autonomous vehicles, and state-of-the-art vehicle technology is also expected to fuel the market growth. Accident data recorder systems, emergency call systems, and alcohol ignition interlocks are some of the prominent technologically advanced features that are expected to drive the market growth over the forecast period.

Automotive Electronics Market Segmentation

Grand View Research has segmented the global automotive electronics market based on component, application, sales channel, and region:

Based on the Component Insights, the market is segmented into Electronic Control Unit, Sensors, Current Carrying Devices, and Others

• The current carrying devices segment accounted for the largest revenue share of around 41% in 2020.
• The sensors segment is projected to register a CAGR of 3.8% from 2021 to 2028.

Based on the Application Insights, the market is segmented into ADAS, Infotainment, Body Electronics, Safety Systems, and Powertrain Electronics

• The safety systems segment accounted for the largest share of around 29% of the overall market in 2020.
• The Advanced Driver Assistance System (ADAS) segment is estimated to register a CAGR exceeding 10.6% from 2021 to 2028.

Based on the Sales Channel Insights, the market is segmented into OEM and Aftermarket

• The OEM segment accounted for the largest share of around 68% in 2020.
• The aftermarket segment is estimated to register a CAGR exceeding 6.8% from 2021 to 2028.

Automotive Electronics Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is characterized by intense competition owing to the presence of several well-established global players.

Some prominent players in the global Automotive Electronics market include:

• Continental AG
• DENSO Corporation
• Hella GmbH& Co. KGaA
• Infineon Technologies AG
• Robert Bosch GmbH
• Valeo Inc.
• ZF Friedrichshafen AG
• Hitachi Automotive Systems, Ltd.
• Visteon Corporation
• Xilinx, Inc.

Order a free sample PDF of the Automotive Electronics Market Intelligence Study, published by Grand View Research.

Asia-Pacific is anticipated to experience high growth in Automotive Electronics Market

27 September 2018, The global Automotive Electronics Market is estimated to be valued more than USD 290 billion by 2024. Rising premium audio system and advanced driver assistance system demands are the key factors anticipated to augment the market growth. Accident recorder systems, emergency call systems, and alcohol ignition interlocks are the technologies that are said to boost the growth in the near future. In addition, rising trend of in-vehicle infotainment is also likely to help boost the market. High complexity levels and lacking awareness about the overall subsystems’ understanding may hinder the growth. The global automotive electronics market is divided into applications and regions.

The application sector comprises body electronics, Advanced Driver Assistance System (ADAS), infotainment, safety systems, and powertrain. The regulatory boards of various economies have taken steps for integrating safety gadgets in cars and other vehicles so as to restrain the occurrence of fatalities caused by road accidents.

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Some of the necessary devices utilized to ensure passenger safety are backup sensing system, airbags, on and off switches for air bags, auto dimming mirrors or electrochromatic mirror, head restraints, energy-absorbing steering system, heads-up display, passenger sensing system, and padded knee bolster.

The ADAS application sector is projected to witness high growth during the forecast period (from 2016 to 2024). This is due to various strict safety regulations resulting in the major adoption of in-car active safety systems. Demands for in-vehicle data storage, to support sophisticated in-car features, are estimated to be the major growth driving factors for infotainment systems.

Geographically, North America dominated the global automotive electronics market in 2015. However, Asia-Pacific is anticipated to experience high growth on account of the rising needs to meet strict standards, to increase product quality, for reduced production costs, and for customized vehicle features. Developing economies including India and China are likely to positively impact the growth of the region.

The major companies operating in the global automotive electronics market include Robert Bosch GmbH; Continental AG; Denso Corp.; Delphi Automotive PLC.; TRW Automotive; Johnson Controls Inc.; and Autoliv AB. The major sustainability and growth strategies used by all such companies include creating technology partnerships with other companies in the ecosystem. Plus, automakers are anticipated to increase the intelligent electronics adoption that makes their products safe to drive and environment-friendly.

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