Rising Demand for Sensors and Safety Initiatives Propel Global Automotive Electronics Market: Forecasted CAGR of 9.1% by 2030 – ResearchAndMarkets.com

The “Global Automotive Electronics Market Size, Share & Industry Trends Analysis Report By Application (Safety Systems, Powertrain Electronics, Infotainment, ADAS and Body Electronics), By Sales Channel, By Component, By Regional Outlook and Forecast, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.

The Global Automotive Electronics Market is projected to reach a value of $470.6 billion by 2030, with a significant growth rate represented by a Compound Annual Growth Rate (CAGR) of 9.1% during the forecast period.

Market Scope

This report provides insights into the global automotive electronics market, covering aspects such as market size, forecast, applications, sales channels, and key market players. It highlights the growing adoption of sensors in vehicles and the impact of government initiatives promoting passenger safety and security.

Key Insights

  • The sensors segment is expected to capture around one-fifth of the market share by 2030. Sensors play a crucial role in detecting physical factors, proximity, positioning, chemical qualities, and process variables in vehicles.
  • Government initiatives aimed at improving passenger safety and security in various countries are expected to drive the revenue expansion of automotive electronics. Sensors, by monitoring various variables, have become integral to automobiles, taking preventive action in case of hazards.
  • The rising demand for electric vehicles (EVs) is driving the global adoption of EVs. In 2019, over 2.1 million electric vehicles were sold, accounting for around 2.6% of global vehicle sales. Advances in battery technology are enabling the accelerated electrification of vehicles.
  • Autonomous vehicles are gaining traction due to their ability to perceive the environment and operate without human intervention. Factors such as enhanced safety, reduced traffic congestion, connected infrastructure, and the shift towards mobility-as-a-service (MaaS) contribute to the growth of autonomous vehicles and automotive electronics.

Market Growth Factors

  • Increasing adoption of electric vehicles worldwide.
  • Rise in the adoption of sensors and equipment-equipped autonomous vehicles.
  • Technological advancements in battery technology for electric vehicles.
  • Enhanced safety, reduced traffic congestion, connected infrastructure, and mobility-as-a-service (MaaS) driving the growth of autonomous vehicles.

Market Restraints

  • High cost of implementing sophisticated electronic technologies and systems in vehicles.
  • Higher costs of vehicle electronics potentially making vehicles more expensive for consumers, affecting accessibility and adoption.

Scope of the Study

The study covers various aspects of the global automotive electronics market:

  • Application (Safety Systems, Powertrain Electronics, Infotainment, ADAS, Body Electronics)
  • Sales Channel (OEM, Aftermarket)
  • Component (Current Carrying Devices, Sensors, Electronic Control Unit, Others)

Key Market Players

Several prominent companies are profiled in the report, including:

  • Continental AG
  • Robert Bosch GmbH
  • Sony Corporation
  • Aptiv PLC
  • Hyundai Mobis Co., Ltd. (Hyundai Motor)
  • ZF Friedrichshafen AG
  • Infineon Technologies AG
  • Magna International, Inc.
  • Aisin Corporation (Toyota Motor Corporation)
  • Koninklijke Philips N.V.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market at a Glance

Chapter 3. Market Overview

3.1 Introduction

3.1.1 Overview Market Composition and Scenario

3.2 Key Factors Impacting the Market

3.2.1 Market Drivers

3.2.2 Market Restraints

Chapter 4. Competition Analysis – Global

4.1 Market Share Analysis, 2022

4.2 Strategies deployed in Automotive Electronics Market

4.3 Porter’s Five Force Analysis

Chapter 5. Global Automotive Electronics Market by Application

Chapter 6. Global Automotive Electronics Market by Sales Channel

Chapter 7. Global Automotive Electronics Market by Component

Chapter 8. Global Automotive Electronics Market by Region

Chapter 9. Company Profiles

Chapter 10. Winning Imperative for Automotive Electronics Market

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