Automotive Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automotive Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global automotive electronics market size reached US$ 301.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 452.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.

Automotive electronics are employed in both on-road and off-road vehicles such as trucks, tractors, forklifts, excavators, motorcycles, and hybrid and electric cars. They are primarily used in the functioning of electronic fuel injection, driver assistance and infotainment system to improve the efficiency of the vehicle. For instance, the anti-lock braking system (ABS) prevents vehicles from skidding on slopes and electronic car security locks provide improved security through remote controlled locks and a central locking system. Besides this, automotive electronics also include satellite-controlled devices for traffic surveillance and diagnostic tools to ensure optimum fuel utilization and maintain engine health.

Technological innovations in the automotive electronics sector is a crucial factor driving the market. The introduction of autonomous or driverless cars that offer a self-driven experience to the user along with the launch of cost-efficient electric vehicles with enhanced features is driving the growth of the market. Furthermore, a shift toward hybrid and luxury vehicles equipped with in-vehicle entertainment devices offering a more sophisticated and interactive user experience is further augmenting the demand for automotive electronics. Besides this, advanced computing technologies, such as parking assistance, electrical suspensions, braking and steering systems, are applied to reduce accidents and fatalities which are significantly increasing their demand among both manufacturers and consumers. Additionally, product innovations such as active-window display, remote vehicle shutdown, exhaust emission control and reconfigurable body panels are also catalyzing the growth of the market.

IMARC Group’s latest report provides a deep insight into the global automotive electronics market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global automotive electronics market in any manner.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive electronics market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on component, vehicle type, distribution channel and application.

Breakup by Component:

Electronic Control Unit
Sensors
Current Carrying Devices
Others

Breakup by Vehicle Type:

Light Commercial Vehicles
Passenger Vehicles
Heavy Commercial Vehicles
Others

Breakup by Distribution Channel:

OEM
Aftermarket

Breakup by Application:

ADAS
Infotainment
Body Electronics
Safety Systems
Powertrain

Breakup by Region:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Omron Corporation, Robert Bosch GmbH, Infineon Technologies AG, HGM Automotive Electronics, Hitachi, Ltd., Delta Electronics, Inc., Atotech Deutschland GmbH, TRW Automotive, Continental AG, Bosch Group, Altera Corporation, Lear Corporation, Aptiv, Texas Instruments, Atmel Corporation, Denso Corporation, etc.

Key Questions Answered in This Report
1. What was the size of the global automotive electronics market in 2022?
2. What is the expected growth rate of the global automotive electronics market during 2023-2028?
3. What has been the impact of COVID-19 on the global automotive electronics market?
4. What are the key factors driving the global automotive electronics market?
5. What is the breakup of the global automotive electronics market based on the vehicle type?
6. What is the breakup of the global automotive electronics market based on the distribution channel?
7. What is the breakup of the global automotive electronics market based on the application?
8. What are the key regions in the global automotive electronics market?
9. Who are the key players/companies in the global automotive electronics market?