Automotive Electronics Market Global Size, Opportunities, Historical Analysis, Development Status, Business Growth and Regional Forecast 2023 – 2033
Research Nester published a report titled “Automotive Electronics Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global automotive electronics market in terms of market segmentation by product type, distribution channel, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
Access detailed report @ https://www.researchnester.com/reports/automotive-electronics-market/4472
The global automotive electronics market is anticipated to grow with a CAGR of ~8% during the forecast period, i.e., 2023-2033. The market is segmented by application into passenger vehicles and commercial vehicles. Out of these segments, the passenger vehicles segment is anticipated to garner the largest market share over the forecast period, owing to the increasing sales of cars. In addition, increasing demand for luxury cars with advanced features among populace is also expected to boost the growth of the segment in the coming years.
The global automotive electronics market is estimated to garner a moderate revenue by the end of 2033, backed by the increasing number of vehicles having electronic systems worldwide. Various features provided by automotive electronics, such as automatic emergency braking, airbags are also projected to boost sales of these tools in the coming years. Moreover, increasing road accidents as well as increasing penetration advance driver assistance system is also projected to propel the growth of the market during the forecast period.
Geographically, the global automotive electronics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific is estimated to garner the largest market share over the forecast period, owing to the rising sale of vehicles. Apart from this, the market in Europe is anticipated to register significant growth in the coming years.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Use of Electronic Control Unit (ECU) to Drive the Market Growth
According to the data, vehicles in 2020, may have 100 or over, ECUs, for controlling functions
The adoption of ECU is expected to accelerate the market growth in the coming years, as there is surge in the number of controlling functions that range from the essential such as power steering control and engine to comfort such as power windows, seats, to security and access such as keyless entry, and door locks. Moreover, the increasing technological advancements as well as the increasing research and development are also expected to drive the growth of the global automotive electronics market during the forecast period.
However, the possibility of cost surge with increased number of electronic control unit as well as lower penetration of electronic systems in developing countries are expected to operate as key restraints to the growth of global automotive electronics market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the of global automotive electronics market which includes company profiling of Robert Bosch GmbH, Continental AG, Denso Corporation, Visteon Corporation, Infineon Technologies AG, Hella GmbH & Co. KGaA, Hitachi, Ltd., Advanced Micro Devices, Inc., Renesas Electronics Corporation, Valeo. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the of global automotive electronics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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