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Automobile Electronics Market Estimated to Grow at a CAGR of 22.31% During the Forecast Period 2022-2027

Automobile Electronics Market Overview
Automobile Electronics Market is analysed to grow at a CAGR of 22.31% during the forecast 2022-2027 to reach $316.34 billion by 2027. Automobile electronics are typically the electronic control unit of the automotive industry used in vehicles which operate and offer a wide range of applications to enhance the driving experience as well as offer high safety standards to the drivers. Automobile electronics consists of electronic brake distribution, driver assistance, transmission control unit and many other solutions which are designed to offer efficient engine management, ignition, radio, in-car entertainment systems and other solutions, further aims to enhance the driving experience. The earliest applications of electronics in automobiles were due to a fundamental need to control the engine, but the latest trends and advancements reveal how it has evolved to give the most sophisticated driving experience to people owing to its large scale integration with various systems of an automobile. These factors tend to drive the demand for various automobile electronics further driving its market growth.

Automobile Electronics Market Segment Analysis – By Component
By Component, the Automobile Electronics Market Report is segmented into Sensors (Temperature, Pressure, Speed, Position and Others), Printed Circuit Boards, Memory, Micro-controllers (8-bit, 16-bit and 32-bit), Microprocessors, Display, Lighting and Others. Sensor components are analysed to hold highest share 27.12% in 2021 owing to the wide range of applications it offers and that tend to enhance the safety of the driver. At present, the modern automobile designing are done using different types of sensors such as temperature, pressure, speed, position and many others. The sensors used in automobiles offer a major role to examine the function of the vehicle. In recent automobiles, sensors are used for detecting as well as responding to change the conditions inside & outside of the car. So that travelers in the vehicle can move efficiently and safely. By using these sensors data, consumers can increase comfort, efficiency, and safety. Rising safety concerns coupled with government regulation for automobile safety, the market growth of sensors is analysed to witness a significant drive during the forecast period.

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Automobile Electronics Market Segment Analysis – By Application
By Application, the Automobile Electronics Market Report is segmented into Advanced Driver Assistance Systems (ADAS), Body Electronics, Powertrain, Infotainment & Communication, Safety system and Others. Advanced Driver Assistance Systems (ADAS) is analysed to hold the highest share 35.21% during the forecast period 2022-2027 owing to its increasing adoption across various vehicle segments coupled with increasing vehicle production. Advance Driver Assistance System (ADAS) is a vehicle control framework that uses sensors such as ultrasonic, infrared, radar, image, and laser to enhance driving comfort and occupants’ safety by helping the driver in perceiving and responding to dangerous traffic situations. ADAS electronic systems offer life-saving advantages to the automobile industry which includes collision avoidance, driving assistance, perception and driver status among others. With the increasing safety concerns and government regulations for the installation of ADAS solutions in the automobile tend to drive its market growth, further contributing significantly in the Automobile Electronic Market growth.

Automobile Electronics Market Segment Analysis – By Geography
Asia-Pacific is analysed to be the major region with a share of 35% in 2021 for the Automobile Electronics Market owing to the availability of leading market players for the Automobile Electronics Market coupled with increasing production of automobiles for various segments in this region. China is one of the largest markets for electric vehicles, and the increasing adoption of electric vehicles in the country has been in line with the clean energy policy tend to propel the demand of various automobile electronics during the forecast period. APAC region is the major supplier for the microcontrollers and the sensors used for ADAS applications. Japan and China, being the electronic hubs, are home to the major automotive electronics components companies such as Renesas, Panasonic Corporation, Infineon and many others. For instance, according to International Energy Agency (IEA), global electric car stock in China is highest in 2020 accounting for 3.5 million BEV and 1 million PHEV. This huge availability of electric car and leading market players in the automobile electronics tend to drive the Automobile Electronics Market growth during the forecast period.

Automobile Electronics Market Drivers
Rising safety concerns across various vehicle segments is driving the demand of automobile electronics
Rising safety concerns across various vehicle segments owing to the various government regulations across the globe tend to significantly drive the demand of automobile electronics during the forecast period. The recent trends in the automobile industry is centered on using lightweight raw materials, scaling down the mechanical components and advancing intelligence & electrification resulting in quick development of the automotive electronics business. The government regulations in Europe and the United States have given green signal to enhance safety features of vehicles that is one of the market drivers for the automotive electronics industry. The advancements in consumer electronics products has surged demand for infotainment services for enhanced communication and entertainment application in the vehicles. Therefore, the communication and safety control systems are set to experience rapid growth for the Automobile Electronic market.

Increasing production of vehicles across the globe is propelling the demand of automobile electronics
Increasing production of vehicles of various segments such as light commercial vehicles, heavy commercial vehicles, passenger Vehicles and others across various parts of the world is analysed to bring significant growth in the demand for Automobile electronics. The increasing technological advancement which offers supreme driving experience coupled with and environmental friendly offerings of electric vehicles is set to drive the global automotive sector during the forecast period. This has brought a major growth in the development of various electronics associated with the automobile industry for safety, infotainment as well as entertainment applications. For instance, according to International Organization of Motor Vehicle Manufacturers (OICA), total production of vehicles across the globe in the first quarter of 2021 was recorded to grow by 16.9% as compared to 2020. Among this, passenger cars hold the major segment by accounting of 14,679,441 units production in the first quarter of 2021 with a growth of 15.9% as compared to 2020. This huge production growth of vehicles is analysed to bring significant growth in the demand of automobile electronics, further driving its market growth.

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Automobile Electronics Market Challenges
High development cost and Certification organizations guidelines is analysed to hamper the Automobile Electronics Market growth
One of the most important factor restraining the market growth of Automobile Electronics Market across the global is the high development cost associated with manufacturing, installation and maintenance cost. Automobile electronics consists of various infotainment and communication systems, ADAS, display solutions and many others which are quite expensive owing to the increasing advancement to go beyond in their technical offering. This technological advancement in the automobile electronics, further add up to their development cost which tend to restrain its market growth during the forecast period. For instance, ADAS solutions are primarily available in the high-end premium segment vehicles, which tend to restrict its adoption in other vehicle segments, further hindering its market growth. Moreover, certain certification organizations for the automobile electronics tend to restrict the adoption of various electronic in the automobile due to safety guidelines and other vehicle manufacturing rules. These factors tend to bring major challenges in the Automobile Electronics Market growth during the forecast period.

Automobile Electronics Industry Outlook
Production Innovation, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in the Automobile Electronics Market. In 2021, the market of Automobile Electronics industry outlook has been fragmented by several companies. Automobile Electronics top 10 companies include

Robert Bosch AG
Continental AG
National Semiconductor
NXP Semiconductors N.V.
Hitachi
Texas Instruments
STMicroelectronics
Omron Corporation
Texas Instruments
Analog Devices
Honeywell International

Acquisitions/Technology Launches/Partnerships
In June 2021, STMicroelectronics launched STi2GaN solutions for auto applications. STi2GaN family combines a monolithic power stage along with drivers and protections in GaN technology as well as System-in-Package (SiP) solutions for application-specific ICs with additional processing and control circuitry.
In June 2021, NXP Semiconductors N.V. and TSMC announced the release of NXP’s S32G2 vehicle network processors and the S32R294 radar processor into volume production on TSMC’s advanced 16 nanometers (nm) FinFET process technology. This marks the migration of NXP’s S32 family of processors to increasingly advanced process nodes as automobiles continue to evolve into powerful computing platforms.

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Key Takeaways
Rising safety concerns across various vehicle segments coupled with increasing demand infotainment and entertainment solutions installed in automobiles is analysed to significantly drive the Automobile Electronics Market during the forecast period 2022-2027.
Sensor components are analysed to hold highest share 27.12% in 2021 owing to the wide range of applications it offers which tend to enhance the safety of the driver.
Advanced Driver Assistance Systems (ADAS) is expected to hold the highest market share 35.21% in the forecast period owing to its increasing adoption across various vehicle segments coupled with increasing vehicle production.
Asia-Pacific is analysed to hold the highest share in 2021 owing to the availability of leading market players for the Automobile Electronics Market coupled with increasing production of automobiles in this region.

Relevant Report Titles:
Automotive PCB Market – Forecast (2021 – 2026)
https://www.industryarc.com/Research/Automotive-Pcb-Market-Research-501114

Automotive IoT Market – Forecast (2021 – 2026)
https://www.industryarc.com/Research/Automotive-IoT-Market-Research-505380

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PR-Wirein, Reportedtimes, Extended Distribution, Research Newswire, English

Contact Information:

Venkat Reddy
Sales Director
Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677