Automotive electronics system is used in electronic engine control for minimizing exhaust emissions and improving entertainment and vehicle motion control system. The demand for the automotive electronics system has increased significantly owing to rising demand for the advanced features including electron braking system, cruise control, along with safety, better comfort, and advanced infotainment system. Additionally, the growing popularity of electric and smart hybrid vehicles is likely to boost the market growth.
Electronics system is one of the most common and significant equipments used in the automotive sector for installing various safety features such as emergency call system, mishap data recorder system, and alcohol ignition interlocks. The rising number of stringent government regulations has become a prominent trend in the automotive electric system market. Additionally, rapid adoption by OEM’s on the high-volume conventional execution is likely to modify the regulatory framework. For Instance, government safety programs such as New Car Assesment Programs across the globe are majorly targeting to increase the overall road safety by pushing toward the research and development of technology for reducing the impact and probability of an accident for example development in airbag and stability of control system.
Geographically, the global automotive electronics market has been segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
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Asia Pacific market is expected to dominate the global automotive electronics market due to the increasing demand of electric vehicles in the region, increasing vehicle production in developing countries such as China and India, and growing demand for the luxurious vehicle in China and Japan. Additionally, rising demand for battery sensor in the automotive sector and increasing per capita disposable income are giving a push to the growth of the automotive sector, which, in turn, is likely to drive the Asia Pacific automotive electronics market. Furthermore, rapid advancement in technology and intense competition in the industry have led automobile manufacturers in the Asia Pacific market to adopt new technologies that can enhance car performance and safety. According to the OICA, the Asia Pacific market is accountable for more than 50% of the automobile production across the globe.
North America is also expected to witness a noteworthy growth in the automotive electronics market during the forecast period due to the stringent emission control standard and increasing disposal income which rise the demand of luxurious features such as biometric Vehicle Access, active window displays, active health monitoring, and remote vehicle shutdown. Additionally, the U.S. market is expected to lead the North America market owing to the presence of key manufacturers such as Continental Corporation, Robert Bosch GmbH, and Autoliv, Inc, and TRW Automotive.
Europe is expected to experience the fastest growth in the global automotive electronics market during the forecasted period. This is attributed to the increasing demand for the advanced technology, and favourable reimbursement policies: the presence of rapid development countries and huge population base.
Latin America and Middle East & Africa are expected to register considerable growth in the automotive electronics market during the forecast period due to increasing mass vehicle production and surging use of high-end electronic features such as driveline control, instrumentation for measuring vehicle performance parameters and for diagnosis of onboard system malfunctions fuel economy.
The global automotive electronics market has been segmented by vehicle type, sales channels, and application.
On the basis of vehicle type, the automotive electronics market has been segmented into a compact passenger car, mid-sized passenger cars, premium passenger cars, luxury passenger cars, light commercial vehicle, and heavy commercial vehicles. Heavy commercial vehicles are extensively used for logistics and transportation. Growing industrialization and logistic service business are expected to propel the growth of the market during the forecast period 2019-2026. These vehicles are extensively used for handling large industrial and construction materials like pipes, large machinery, oil barrels, cylinder and others.
In term of sales channel, the automotive electronics market has been segmented into original equipment manufacturer and aftermarkets. The original equipment manufacturer is expected to dominate the global market due to increasing uses of electronic component for improving vehicle performance and growing consumer trust on OEM’s for highly durable and genuine products.
By application, the automotive electronics market has been segmented into advance driver assistance system, safety system, entertainment, powertrain, and body electronics. The advanced driver assistance system is expected to be the fastest growing segment in the global automotive electronics market. This is attributed to the increasing safety standard and research and development in sensor technology and signal processing algorithms, which, in turn, driving the adoption of the advanced driver assistance system.
Automotive Electronics Market Segmentation
By Vehicle Type
By Sales Channel
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