Automotive Electronics Market Share, Dynamics and Competitive Landscape By 2027

Felton, California , USA, Feb 10, 2021 — /EPR Network/ — The global automotive electronics market size is likely to account for USD 493.69 billion in 2027. It is predicted that the market would register 9.0% CAGR from 2020 to 2027. Increasing sales of hybrid and electric vehicles are proliferating the growth of the market. In addition, integration of advanced systems such as ABS, sensors, airbags and others is supplementing the market growth for automotive electronics.

In addition, governments across the globe are focusing on implementing ADAS systems to ensure road safety. The integration of warning systems for lane departure and automatic emergency braking has been mandated in Europe, U.S and China. Such regulations have led to the installation of various electronics components in the production stage of the vehicles.

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North America and Europe are witnessing significant growth for in-vehicle infotainment systems, which, in turn, is likely to supplement the market growth. However, Asia Pacific accounted for the largest share in the market in 2019. This is large because of increasing vehicle sales in China and Japan. India, on the other hand, is showing promising growth as well.

Key players in the market are focusing on expanding their market presence in emerging countries. New product development and partnerships are some of the major strategic initiatives adopted by these companies.

Further key findings from the report suggest:

• By components, the current-carrying division accounted for the highest share in the automotive electronics market in 2019, owing to the growing focus on safety features.
• The safety category is likely to account for the highest share in the market throughout the forecast duration.
• In 2019, OEMs held the highest share in the market as most of the electronic components are integrated during the manufacturing process itself.
• Asia Pacific is projected to witness over 9% CAGR from 2020 to 2027 owing to rising vehicle demand from India and China. 

Impact of COVID-19

Automotive sales have been reduced significantly owing to the outbreak of COVID-19. As forecasted by global rating agency Moody, the sales of the automobile would reduce by 20% in 2020. These sales have been largely affected due to dismal economic growth. Leading countries such as the United States, Germany, France, U.K and India have witnessed a significant reduction in their GDP. Owing to the low demand, which is affected by weak supply chain, the production of automotive vehicles have reduced significantly. Low vehicles production has adversely affected the demand for automotive electronics market.

However, China is estimated to witness significant demand for automotive vehicles. Several other countries have also started their economic activities, albeit slowly. The market is estimated to witness moderate growth over the next couple of year and it would pick pace thereafter.

Global Automotive Electronics Market: Key Players

Panasonic Corporation,Aptiv PLC,Continental AG, Intel Corporation, ZF Friedrichshafen AG, and Broadcom Ltd. 

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