The global automotive electronics market is projected to generate a revenue of US$ 515.02 Bn by 2027, expanding at 6.98 % CAGR during the forecast period from 2019 to 2027.

Product Insights

Automotive electronics systems are incorporated in vehicles to improve the overall vehicle performance by optimizing fuel consumption, ignition time, inlet-exhaust valve timing and idle speed among others. These systems also find application in driver assistance, passenger comfort, safety systems and infotainment. Increase in demand for automatic systems in vehicles for the purpose of optimum performance and better passenger & driver safety are major factors driving the automotive electronics market. Similarly, government initiatives to implement global safety standards & norms along with growing penetration of electric and hybrid electric vehicles is likely to augment the automotive electronics market growth throughout the forecast period.

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The global automotive electronics market, based on application was dominated by powertrain segment in 2018. Rapid transition in conventional powertrain systems is primarily credited to necessity for advanced energy-efficient systems. The segment growth is mainly accredited to the CO2 emission regulations for automotive industry. Rising number of norms and regulations have significantly increased the awareness among automotive manufacturers for producing lesser emission products. This in turn has led OEMs to develop more fuel-efficient vehicles by employing advanced powertrains and engines. Further, on the basis of geography, Asia Pacific led the automotive electronics market in 2018. Governing bodies across the region are implementing various schemes & policies that benefit the growth of automotive electronics market in Asia Pacific. For instance, Government of India has launched (FAME-India) scheme that offers incentives on manufacturing of electric and hybrid vehicles and development of electric transportation infrastructure.

Competitive Insights:

Major players in the automotive electronics market include Robert Bosch GmbH, Continental Corporation, Samsung Group, ZF Friedrichshafen AG, Autoliv, Inc., Denso Corporation, Delphi Technologies, Panasonic Corporation, Magna Infotech, General Electric, Materialise NV, Qualcomm Inc., NXP Semiconductors N.V. and Lisnr, Inc. among others. To sustain, succeed and grow in competitive market, automotive electronics system manufacturers are adopting various strategies. Development of technologically advanced products, mergers and acquisitions, joint ventures and partnership are among the major strategies preferred by key players to have an edge over competitors.

“Asia Pacific Garnered Largest Market Share in 2018”

The global automotive electronics market, based on geography was led by Asia Pacific region in 2018 and is likely to remain dominant throughout the forecast period. Realizing the growing consumer base, increasing demand for automobiles and cost effective manufacturing, several multi-national automotive companies have shifted their production base in Asia Pacific, especially in India, China and Southeast Asia. Automotive manufacturers understand the importance of electronics systems in gaining an edge over competitors. The demand for such innovative and advanced automotive electronic components is fulfilled by electronic component manufacturing industries particularly in Malaysia, South Korea, Thailand and Taiwan.

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