The global Automotive Electronics Market is primarily driven by the rising adoption of automobiles among the masses.

The latest report by IMARC Group, titled “Automotive Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, 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$ 301.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 452.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028. Automotive electronics are specially designed for vehicles, including engine management, ignition, radio, carputers, telematics, and in-car entertainment systems. They are utilized in automobiles for automobile operations such as to improve the driving act, fuel efficiency, and comfort of the drivers and riders. They can be subjected to more extreme temperature ranges than commercial electronics. They are classified into different types based on domains such as Engine Electronics, Transmission Electronics, Chassis Electronics, Passive Safety, Driver Assistance, Passenger Comfort, Entertainment Systems, Electronic, and Integrated Cockpit Systems. 

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Industry Demand:

The global market is majorly driven by the rising integration and implementation of advanced safety systems such as automatic airbags, emergency braking, parking assistance systems, and lane departure warning to reduce road accidents. In line with this, the features such as accident data recorder systems, alcohol ignition interlocks, and emergency call systems are widely adopted to safeguard in-vehicle passengers and are anticipated to contribute to the market growth significantly. Furthermore, the rapid adoption of Hybrid Electric Vehicles (HEV) and Electric Vehicles (EV) is catalyzing the demand for automotive electronics components. Apart from this, the rapid technological advancements related to in-vehicle safety and rising government regulations to minimize road accidents are propelling the market. Moreover, automotive manufacturing companies worldwide are working in the electronics sector by innovating technologically advanced systems for improved safety, entertainment, and comfort features in vehicles, likely to offer numerous opportunities for the market. Besides, the growing integration of the Internet of Things, Artificial Intelligence, and Cloud Computing in vehicles is providing a boost to the market. Additionally, the escalating automation and usage of digital solutions in the automotive industry, which incorporate numerous electronic techniques, is providing an impetus to the market.

Competitive Landscape with Key Players:

• OMRON CORP(OMRNY)
• 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

Also, Read Blog, Automotive Electronics Manufacturers Worldwide: 

Key Market Segmentation:

Breakup by Component:

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

Breakup by Vehicle Type:

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

 
Breakup by Distribution Channel:

Breakup by Application:

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

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)

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 Landscape

NOTE: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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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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To view the original version on ABNewswire visit: Automotive Electronics Market Outlook, In-Depth Insights by Top Manufacturers, Business Strategies, Sales and Revenue, and Research Report 2023-2028