Automotive Electronics Market to hit $380 Bn by 2027;

Selbyville, Delaware, July 07, 2021 (GLOBE NEWSWIRE) — Global Market Insights Inc. has recently added a new report on the automotive electronics market which estimates the market valuation for automotive electronics will cross US$ 380 billion by 2027. The market growth is attributed to the increasing adoption of automotive safety […]

Selbyville, Delaware, July 07, 2021 (GLOBE NEWSWIRE) —

Global Market Insights Inc. has recently added a new report on the automotive electronics market which estimates the market valuation for automotive electronics will cross US$ 380 billion by 2027. The market growth is attributed to the increasing adoption of automotive safety systems, such as airbags, Child Safety Systems (CSSs), pre-tension seatbelts, Occupant Sensing Systems (OSSs), and Whiplash Protection (WLP), in vehicles. These systems are extensively integrated with advanced sensors, processors & microelectronics to provide high accuracy and faster response time in the event of a road crash or accident.

Adding to this, various regulatory bodies are compulsorily mandating automotive manufacturers to integrate passive safety systems in their upcoming vehicles. For instance, in March 2021, the Union Ministry of Road Transport and Highways, Government of India issued a gazette notification that mandates all new vehicles manufactured after 1st April 2021 to be fitted with dual front airbag systems. The incorporation of front airbag systems will improve passenger safety, thus accelerating the market adoption of automotive electronics over the forecast timeline.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/183

The ADAS segment held a market share of over 10% in 2020 and is projected to grow at a CAGR of over 10% from 2021 to 2027. Growth is driven by supporting government regulations on the mandatory fitment of advanced safety systems, such as lane departure warning systems, automated emergency braking, blind-spot detection, park assist, and adaptive cruise control systems, in vehicles. For instance, in February 2021, the German Federal Government introduced a bill that focuses on integrating Level-4 autonomous driving systems in all upcoming vehicles in the country. The introduction of Level-4 ADAS systems in vehicles will add new growth opportunities for automotive electronics manufacturers over the forecast period.

The North America automotive electronics market is anticipated to register 7% CAGR from 2021 to 2027. Growth is credited to the presence of various automotive manufacturers in the region, such as Ford Motors, Tesla Inc., General Motors, and Volkswagen, focusing on establishing EV manufacturing plants in the U.S. These players are heavily investing in the modernization of their automotive manufacturing facilities to increase the production of passenger and commercial vehicles.

Companies operating in the automotive electronics market are continuously involved in various strategies, such as mergers & acquisitions, to accelerate their product offerings and to cater to the high demand in the market. For instance, in December 2020, Magna International Inc. and LG Electronics Inc. announced a joint venture, which will focus on manufacturing on-board chargers, invertors, and e-motors to accelerate their market potential in the electric cars industry.

Some major findings of the automotive electronics market report include:

  • Proliferation of electric vehicles across the globe will spur the automotive electronics market growth over the forecast period. According to the Global EV Outlook 2021 report, there were more than 10 million electric cars registered as of December 2020. These EVs are extensively incorporating body electronics, powertrain components, and safety systems, which will add growth opportunities for automotive electronics manufacturers.
  • Increasing government regulations and programs on clean energy and to reduce CO2 emissions from vehicles are expected to increase the adoption of advanced powertrains systems. Automotive OEMs are focusing on integrating high-end powertrain solutions, such as power electric drivetrains, engine controllers, and Exhaust Gas Recirculation (ERG) systems, which will further support the segment growth.
  • The rising adoption of advanced technologies, such as IoT, cloud connectivity, and advanced telematics, in commercial vehicles to communicate in warehouses and tackle highway traffic efficiently will support the automotive electronics market growth. In March 2020, Tata Motors announced a strategic partnership with Tata Elxsi to develop a unified connected vehicle platform. This partnership will help both the companies to achieve connected vehicle features in their commercial & passenger cars.
  • The COVID-19 pandemic severely impacted the automotive sector due to the shutdown of various manufacturing facilities, international trade barriers, and disruptions in supply chains. The unavailability of raw materials & components resulted in a decline in the production of automotive vehicles including electric & non-electric cars.
  • According to a March 2021 press release by the International Organization of Motor Vehicle Manufacturers (OICA), global automotive production witnessed a 16% decline with less than 78 million vehicles produced in 2020. This is expected to restrain market opportunities for automotive electronics suppliers during the pandemic period.
  • Some of the major players operating in the automotive electronics market are Bosch Group, BorgWarner Inc., Broadcom, Inc., Continental AG, Denso Corporation, Harman International, Hyundai Mobis, Magna International, Inc., and Texas Instruments Incorporated, among others.
  • Companies operating in the automotive electronics market are continuously focusing on R&D activities to develop technically advanced products than their competitors in the market.

Request for customization of this research report at https://www.gminsights.com/roc/183

Partial chapters of report table of contents (TOC):

Chapter 3   Automotive Electronics Industry Insights

3.1    Industry segmentation

3.2    Impact analysis of corona virus (COVID-19) pandemic on automotive electronics market

3.2.1    Global outlook

3.2.2    Impact by region

3.2.2.1    North America

3.2.2.2    Europe

3.2.2.3    Asia Pacific

3.2.2.4    Latin America

3.2.2.5    MEA

3.2.3    Industry value chain

3.2.3.1    Research and development

3.2.3.2    Manufacturing

3.2.3.3    Marketing

3.2.3.4    Supply

3.2.4    Competitive landscape

3.2.4.1    Strategy

3.2.4.2    Distribution network

3.2.4.3    Business growth

3.3    Industry ecosystem analysis

3.3.1    Component supplier

3.3.2    Manufacturers

3.3.3    Distribution channel analysis

3.3.4    End users

3.3.5    Vendor matrix

3.4    Technology & innovation landscape

3.4.1    Software standardization & in-vehicle networks

3.4.2    Development in unmanned technology

3.4.3    Connected vehicles

3.4.4    Disruptive/future trends

3.5    Global automotive production overview, 2016 – 2020

3.5.1    Passenger car production statistics

3.5.2    Commercial vehicles production statistics

3.5.3    Cost structure breakdown

3.6    Regulatory landscape

3.6.1    International

3.6.1.1    ISO 26262

3.6.1.2    IEC 60068

3.6.1.3    IEC 61508

3.6.1.4    MISRA C

3.6.2    North America

3.6.2.1    Corporate Average Fuel Economy (CAFE) standards

3.6.2.2    Federal Motor Vehicle Safety Standard 108

3.6.3    Europe

3.6.3.1    EOBD standard

3.6.3.2    Emission Controls Standards

3.6.3.3    Eco-innovations and Law (EC) No

3.6.4    Asia Pacific

3.6.4.1    CCC mark

3.6.4.2    Bharat Stage emission standards

3.6.4.3    Australian design rules

3.6.5    Latin America

3.6.5.1    NR Law No

3.6.6    MEA

3.6.6.1    SAQA 376640

3.6.6.2    Article NO 95, Federal Traffic Act

3.7    Industry impact forces

3.7.1    Growth drivers

3.7.1.1    Increasing demand for safety and comfort features in vehicles

3.7.1.2    Stringent regulatory framework in North America and Europe

3.7.1.3    Increasing sales of electric vehicles

3.7.1.4    Rapid development of autonomous technology

3.7.1.5    Flourishing automobile production in Mexico

3.7.1.6    Growing vehicle production activities in South Africa

3.7.1.7    Proliferation of component manufacturers in Asia Pacific

3.7.2    Industry pitfalls and challenges

3.7.2.1    High prices of ADAS

3.7.2.2    Declining automotive production in the U

3.7.2.3    Increasing automobile system complexities

3.8    Growth potential analysis

3.9    Porter’s analysis

3.9.1    Industry rivalry

3.9.2    Threat of new entrants

3.9.3    Buyer power

3.9.4    Supplier power

3.9.5    Threat of substitutes

3.10    PESTEL analysis

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

        
Next Post

Apple reportedly desires batteries for the Apple Car to be produced in the US

Job Titan has long gone by means of quite a few phases given that its introduction into the rumor mill in 2015. For a whilst, Apple experienced focused on autonomous driving technological innovation rather than components. Even though the genuine car or truck is nevertheless numerous many years away, most […]

Subscribe US Now