The automotive electronics market size is anticipated to reach US$ 249.653 billion in 2023 and then increase at a CAGR of 4.6% to US$ 391.43 billion between 2023 and 2033.
The Automotive Electronics Market is experiencing robust growth driven by several key factors, including the increasing integration of electronic systems in vehicles, advancements in vehicle connectivity and automation, and the growing demand for advanced safety and infotainment features.
One of the primary drivers of this market is the rising demand for vehicle electrification and automation. Modern vehicles are equipped with a wide range of electronic systems and components, including advanced driver assistance systems (ADAS), electric powertrains, infotainment systems, and connectivity features. These electronic systems enhance vehicle performance, efficiency, and safety, driving the adoption of automotive electronics across the industry.
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Moreover, advancements in vehicle connectivity technology, such as 5G networks, vehicle-to-everything (V2X) communication, and cloud-based services, are driving innovation in the automotive electronics market. These technologies enable vehicles to communicate with each other, infrastructure, and external devices, paving the way for new services and applications such as remote diagnostics, over-the-air updates, and predictive maintenance.
Furthermore, the growing focus on vehicle safety and regulatory compliance is driving demand for advanced safety features such as collision avoidance systems, adaptive cruise control, and lane-keeping assistance, which rely on sophisticated electronic systems and sensors. Additionally, the increasing demand for connected infotainment systems and digital cockpit features is fueling growth in the automotive electronics market, as consumers seek seamless connectivity, entertainment, and convenience features in their vehicles.
Key Takeaways
- During the forecast period, Chinese automotive electronics business to expand at a CAGR of 5.5%.
- From 2023 to 2033, the United Kingdom automotive electronics industry to register at a 3.3% CAGR.
- Through 2033, the Indian automotive electronics market to record a CAGR of 6%.
- Between 2023 and 2033, the United States might increase its market share by 21.8%.
- Germany may control 7.6% of the automotive electronics industry between 2023 and 2033.
- Between 2023 and 2033, Japan’s share of the automotive electronics industry might reach 8.3%.
- From 2023 to 2033, Australia to hold a 0.2% share of the automotive electronics industry.
- The body electronics segment to acquire a substantial market share of 22.4% in the type category between 2023 and 2033.
- The passenger cars sector to grab a significant market share of 68.9% in the vehicle type category between 2023 and 2033.
Competitive Landscape
Major automotive electronics manufacturers spend much on research and development to diversify their product lines, propelling the automotive electronics market even higher.
The automotive electronics manufacturers are engaging in various strategic measures to extend their worldwide footprint. These measures include important industry changes such as new product releases, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations.
Leading Automotive Electronics Manufacturers: A Profile of Leading Automotive Electronics Companies
- 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.
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Key Segments
By Application:
- Advanced Driver Assistance Systems (ADAS)
- Body Electronics
- Entertainment
- Powertrain
- Safety Systems
By Vehicle:
- Light Commercial Vehicles
- Passenger Vehicles
- Heavy Commercial Vehicles
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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