Automotive Electronics Market

Automotive Electronics Market is accounted for USD 218 billion in 2020, growing at a robust CAGR of 7.9% during forecast period.

Automotive Electronics Market Overview

Automotive electronics refers to electrical and electronic systems specially designed to be installed in automobiles. Different types of electronic systems used in automobiles include music systems, safety airbags, electronic controllers, headlights, LED brake lights, and others.

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Major Automotive Electronics Market Drivers

The rapid adoption of electric vehicles, the development of new intelligent transport systems, and rising concern for improved automobile functional safety are expected to drive the growth of the automotive electronics market size. Additionally, electronic devices including engine electronics, safety device electronics, and chassis electronics used in automobiles help in enhancing the driving act, fuel efficiency, and comfort of the drivers. Moreover, advanced automotive electronics technologies including autonomous driving, all-electric cars, and in-car infotainment are further contributing to the market growth. Furthermore, according to the International Energy Agency (IEA), electric cars registered 2.1 million sales globally with a 40% year-on-year increase and accounted for 2.6% of the global car sales in 2019. And, about 3 million new electric cars were registered in 2020. This is expected to augment the demand for automotive electronics in the coming years.

Restraint in the Automotive Electronics Market

However, the outbreak of the COVID 19 pandemic has disrupted the supply chains and manufacturing of vehicles across the globe, which is anticipated to slow down the sales for vehicles in the market, thereby, restraining the growth of the automotive electronics market. Additionally, the higher cost of maintenance and replacement of vehicle electronic systems is further expected to hamper the market growth.

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Component – Segment Analysis

Based on component, electronic control unit (ECU) is expected to account for a major share in the market primarily due to the growing preference for hybrid and luxury vehicles and the rising deployment of infotainment systems, ADAS, and automated safety systems in vehicles. The growing number of electronic components including dashboard instruments, engines, telematics, and powertrain in the vehicle has further increased the demand for ECU.

Vehicle Type – Segment Analysis

Based on the vehicle type, passenger vehicle is expected to account for a large share in the automotive electronics market owing to the growing population coupled with the rising demand for specialty utility vehicles (SUVs) among consumers. Additionally, according to OICA, around 53.59 million passenger cars were sold across the world in 2020. This is further expected to contribute to the growth of the market.

Application – Segment Analysis

Based on the application, the ADAS (Advanced driver-assistance system) is expected to hold a notable share in the automotive electronics market. This can be attributed to the growing awareness regarding automobile and road safety and the increasing demand for semi-autonomous driving systems. Additionally, ADAS offers benefits including blind-spot detection, park assistance, autonomous emergency braking, and adaptive cruise control, which further contributed to the market growth.

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Regional – Segment Analysis:

Asia-Pacific is expected to grow at a prominent CAGR over the forecast period. This is primarily due to the increasing purchasing power of the middle-class population, the increasing automotive production coupled with the rising manufacturing of electric buses, electric cars, and electric two-wheelers in India, China, and Japan. Moreover, in 2019, China accounted for 47% of the global electric car sales as per the International Energy Agency (IEA). Furthermore, according to the Society of Indian Automobile Manufacturers (SIAM), in the fiscal year 2020, there were around 2.7 million passenger cars sold across the south Asian country. This is expected to drive the automotive electronics market growth in the Asia-Pacific.

Top Market Players

Several leading Automotive Electronics companies operating in the market, include, Continental AG, Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, Hitachi Group, BorgWarner Inc., Texas Instruments Incorporated, Honeywell International Inc., Omron Corporation, and LG Corporation, and others.

Key Developments:

• • In 2021, LG Electronics, a part of LG Corporation and Luxoft, a DXC Technology Company announced the launch of their alliance, Alluto. Alluto is aimed at the commercialization of digital cockpit, in-vehicle infotainment, passenger-seat entertainment (PSE), and ride-hailing systems based on the webOS Auto platform.

Segments covered in the Report:

The global Automotive Electronics market has been segmented on the basis of component, vehicle type, application, and key regions. Based on component, the market is segmented into electronic control unit, sensors, current carrying devices, and others. Based on the vehicle type, the market is segmented into light commercial vehicles, passenger vehicles, heavy commercial vehicles, and others. Based on the application, the market is segmented into ADAS, infotainment, body electronics, safety systems, powertrain, and others.

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Market Segmentation

Global Automotive Electronics Market by Component

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

Global Automotive Electronics Market by Vehicle Type

• • Light Commercial Vehicles
  • Passenger Vehicles
  • Heavy Commercial Vehicles
  • Others

Global Automotive Electronics Market by Application

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

Global Automotive Electronics Market by Region

• • North America Automotive Electronics Market (Option 1: As a part of the free 25% customization)

    • By Component
    • By Vehicle Type
    • By Application
    • US Market All-Up
    • Canada Market All-Up

  • Europe Automotive Electronics Market (Option 2: As a part of the free 25% customization)

    • By Component
    • By Vehicle Type
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Automotive Electronics Market (Option 3: As a part of the free 25% customization)

    • By Component
    • By Vehicle Type
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Automotive Electronics Market (Option 4: As a part of the free 25% customization)

    • By Component
    • By Vehicle Type
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Automotive Electronics Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Continental AG
  • Denso Corporation
  • Robert Bosch GmbH
  • Infineon Technologies AG
  • Hitachi Group
  • BorgWarner Inc.
  • Texas Instruments Incorporated
  • Honeywell International Inc.
  • Omron Corporation
  • LG Corporation