Automotive electronics are basically defined as the electronically operating systems utilized in vehicles. Automotive electronics increases the engine control and provides higher safety, security and comfort in a vehicle. These systems are mainly utilized in electronic fuel injection, airbag, advanced driver assistance, as well as infotainment in order to enhance the overall efficiency of the combined system. moreover, automotive electronics can be subjected to more extreme temperature ranges than commercial. Additionally, these electronic systems have application in the following such as engine electronics, transmission electronics, chassis electronics, driver assistance, entertainment systems, and electronic integrated cockpit systems.
Global Automotive Electronics Market: Key Players
The research study includes profiles of leading companies operating in the global automotive electronics market. Key players profiled in the report include: Hitachi Ltd., Texas Instruments Inc., Robert Bosch, Renesas Electronics Corporation, Infineon Technologies AG, STMicroelectronics N.V., NXP Semiconductors N.V., Continental AG, NVIDIA Corporation, and Aptiv PLC.
Drivers for the Global Automotive Electronics Market:
According to current market situation, factors such as adoption of IoT and AI in the automobiles, vehicles equipped with automated driving, the demand of in-vehicle safety features, increase in demand of infotainment features drive the market of automotive electronics. Also, the growing popularity of electric and hybrid vehicles, technological advances in vehicles, government initiatives were taken in developed countries that have been driving the global automotive electronics market.
Opportunities for the Global Automotive Electronics Market:
The investment towards autonomous driving of vehicles in smart grids is expected to provide lucrative opportunities in the automotive electronics market share. In addition, rise in competition in the automotive market manufacturers offer infotainment features in the economical range of cars. Thus, a greater number of cars getting equipped with infotainment electronics increases the market of automotive electronics. Furthermore, the digitization of automotive systems by including connected technologies, in-vehicle communication, and ADAS & automated systems creates several opportunities for market growth.
Restrains for the Global Automotive Electronics Market:
On the other hand, low adoption of automotive electronics in newly industrialized countries and increase in overall cost of end-product due to integration of automotive electronics hampers the market growth. Moreover, issues of loss of critical vehicular information through automotive electronics might hinder the overall market at a global level.
Region Wise, Global Automotive Electronics Market Analysis:
On the basis of region, global automotive electronics market includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Geographically, Asia pacific will dominate the automotive electronics market, owing to the strong vehicle & component manufacturing sector in Japan, China, and South Korea. There is easy & cheap availability of raw materials and components due to the presence of several suppliers in these markets. Automotive suppliers in the region are more profitable compared to the European and North American counterparts due to the provision of low market price and high-quality automotive electronics products in huge quantities. Also, The Make in India campaign is anticipated to draw significant investments toward automotive sector, as India offers benefits such as cheaper raw materials and low-cost labors. Besides, Japan is one of the most technologically advanced nations and has witnessed some recovery in its vehicle production. Asia pacific region is followed by North America and Europe.
Covid-19: Impact and Recovery Analysis for Global Automotive Electronics Market:
The world is greatly affected by the uncertain raise of the covid-19 Pandemic among the population. The Corona virus outbreak has disrupted & disturbed every sector of business as well as human activity. In most parts of the world there has been a complete restriction set by governments regarding various activities and in turn this is greatly affecting the financial stability of industries like: automotive electronics market globally. Most of the industries and businesses like: automotive electronics market is shifting to manufacturing equipment that can support the covid-19 spread from increasing and spreading. The pandemic is affecting most sectors of the economy, especially shared and smart mobility operators. Public-transport usage in major cities has declined anywhere from 70 – 90% of normal loads, and operators are now required to follow strict protocols like requiring face coverings, temperature scans and limiting the number of riders in trains and buses to ensure social distancing. Looking ahead as the pandemic gradually comes under control, companies will need to look at developing detailed plans to scale up operations, not only focusing on where, but how. A portfolio review aiming to rationalise services can help focus on profitable operations and decide on which technologies are to be prioritized, so to emerge from the crisis leaner and stronger.
Global Automotive Electronics Market: Product analysis
- Electronic Control Unit
- Current Carrying Devices
Global Automotive Electronics Market: Application analysis
- Body Electronics
- Safety Systems
- Powertrain Electronics
Global Automotive Electronics Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East