Automotive Electronics Market Share, Size, Trends 2024-2032

According to the latest report by IMARC Group, titled “Automotive Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the automotive electronics market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global automotive electronics market size reached US$ 322.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 558.5 Billion by 2032, exhibiting a growth rate (CAGR) of 6.1% during 2024-2032.

Factors Affecting the Growth of the Automotive Electronics Industry:

  • Increasing Consumer Demand for Advanced Safety Features:

    The growth of the global automotive electronics market is propelled by strong consumer demand for advanced safety features that redefine the driving experience. With safety concerns taking precedence, car manufacturers are progressively incorporating cutting-edge electronics to enhance road safety. Examples include collision avoidance systems and autonomous emergency braking, both leveraging sensors, cameras, and radar systems to detect potential collisions and autonomously engage braking mechanisms. The increasing awareness of road safety and a growing emphasis on accident reduction intensify this demand surge. Consequently, manufacturers in the automotive electronics sector are making substantial investments in research and development to innovate and refine these safety features, playing a pivotal role in the ongoing expansion of the market.

  • Rise of Electric and Hybrid Vehicles:

    The substantial driver behind the global automotive electronics market is the transition towards electric and hybrid vehicles. In response to the global push for sustainable transportation, automakers are shifting from internal combustion engines to electric powertrains, necessitating intricate electronic systems. These systems play a crucial role in managing power distribution, monitoring batteries, and optimizing energy efficiency. Furthermore, the rise of electric vehicles (EVs) requires advanced electronics for integrating charging infrastructure, as well as for battery cooling and thermal management. In the hybrid segment, which includes vehicles with both internal combustion and electric power sources, there is a growing demand for sophisticated electronics to synchronize the operation of these dual powertrains. Governments worldwide promoting EV adoption through incentives and regulations are poised to drive remarkable growth in the automotive electronics sector due to its essential role in advancing electric and hybrid vehicle technologies.

  • Growth of Connected Vehicles and IoT:

    The automotive electronics market is significantly influenced by the widespread adoption of connected vehicles and the Internet of Things (IoT). In the modern automotive landscape, vehicles are increasingly equipped with advanced infotainment systems, telematics solutions, and connectivity features that elevate the overall driver experience and convenience. These systems facilitate real-time navigation, remote diagnostics, over-the-air updates, and seamless integration with smartphones and other devices. The growing demand for continuous connectivity, diverse entertainment options, and personalized services has sparked an increased integration of electronic components and software solutions in vehicles. As consumers increasingly seek a seamless fusion of technology and transportation, manufacturers in the automotive electronics sector are prioritizing the development of reliable and efficient connectivity solutions capable of withstanding the challenges of diverse environments. The focus is on ensuring a safe and enjoyable driving experience while meeting the evolving expectations of tech-savvy consumers.

Competitive Landscape with Key Players:

  • 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
  • Altera Corporation
  • Denso Corporation

Global Automotive Electronics Market Trends:

The automotive electronics market is experiencing robust growth driven by several key factors. The increasing demand for advanced safety features, prompted by a growing emphasis on road safety and accident prevention, has led to the integration of cutting-edge electronics in vehicles. This includes collision avoidance systems and autonomous emergency braking, leveraging sensors and radar systems for enhanced safety. Moreover, the global shift towards electric and hybrid vehicles as a part of sustainable transportation initiatives is a significant driver. This transition necessitates intricate electronic systems for efficient power management, battery monitoring, and energy optimization.

The proliferation of connected vehicles and the Internet of Things (IoT) further fuels market growth, with modern vehicles featuring sophisticated infotainment systems, telematics solutions, and connectivity features. As consumers increasingly seek seamless integration of technology into their driving experience, automotive electronics manufacturers focus on developing reliable and efficient solutions, contributing to the overall expansion of the market.

Key Market Segmentation:

Breakup by Component:

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

Based on the component, the market has been divided into electronic control unit, sensors, current carrying devices, and others. The rising need for advanced vehicle functionalities is driving growth in various segments.

Breakup by Vehicle Type:

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

Passenger vehicles hold the largest share in the market due to the rising need for personal mobility and, consequently, passenger vehicles.

Breakup by Distribution Channel:

  • OEM
  • Aftermarket

OEM dominates the market as it possesses an advantage in integrating electronics seamlessly during the vehicle manufacturing process.

Breakup by Application:

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

Infotainment holds the largest share of the market due to changing consumer preferences that demand a blend of entertainment, connectivity, and navigation in vehicles.

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Asia Pacific’s dominance in the market is due to its robust automotive manufacturing base.

Key Highlights of the Report:

  • Market Performance 
  • Market Outlook 
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscap

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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