01.12.2020 Бизнес

Automotive Electronics Market Outlook By Size, Demand Status Of Type, Applications And Future Forecast

The adoption of automobiles has been increasing at a rapid pace across the globe, which can be attributed to the improving economic condition of developing countries, increasing disposable income of people, and technological advancements that have led to reduction of prices of vehicles. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2018, approximately 95.1 million automobile were sold, and the automotive sales grew by 1.8% CAGR during 2014–2018.

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The focus towards making vehicles safer has increased substantially over the past few years, owing to the increasing number of road accidents. As a result, government of several countries have now implemented strict policies and regulation regarding the integration of certain safety features in vehicles. Systems such as ADAS can make vehicles far secure and safer by helping the driver and even taking over the vehicle, in a case of emergency. Integration of such features in vehicles is predicted to drive the market in the coming years.

The automotive electronics market is expected to generate a revenue of $615.3 billion by 2030, increasing from $235.7 billion in 2019, progressing at a 9.3% CAGR during the forecast period (2020–2030). When system is taken into consideration, the market is divided into chassis electronics, engine electronics, electronic integrated cockpit system, transmission electronics, entertainment system, passive safety system, and passenger comfort system.

Hence, the market is being driven by the growing sales of vehicles and rising safety concerns. This market research report provides a comprehensive overview of the automotive electronics market

Historical and the present size of the automotive electronics market
Future potential of the market through its forecast for the period 2020– 2030
Major factors driving the market and their impact during the short, medium, and long terms
Market restraints and their impact during the short, medium, and long terms
Recent trends and evolving opportunities for the market participants
Historical and the present size of the market segments and understand their comparative future potential