According to the recent study the automotive electronic market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 7% to 9% from 2023 to 2028. Growth in this market is primarily driven by introduction of autonomous cars and increasing adoption of advanced safety systems, such as parking assistance systems, airbags, and lane departure systems.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in automotive electronic market by component (electric control unit, sensors, current carrying devices, and others), application (ADAS, infotainment, body electronics, safety systems, and powertrain electronics), distribution channel (OEM, and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Current carrying devices market is expected to remain the largest segment during the forecast period.”
Based on component, the automotive electronic market is segmented into electric control unit, sensors, current carrying devices, and others. Lucintel forecasts that the current carrying devices market is expected to remain the largest segment due to increase in demand for advanced safety and comfort features in passenger cars as well as commercial vehicles.
“Within the automotive electronic market, the safety systems segment is expected to remain the largest application”
Based on application the safety systems segment is expected to witness the highest growth over the forecast period due to increasing customer awareness about car safety features and increasing government regulations related to fuel efficiency and the safety of drivers as well as passengers.
“Asia pacific will dominate the automotive electronic market in near future”
APAC will remain the largest region due to increase in automotive production and rise in investment towards autonomous driving of vehicles in smart grids.
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Major players of automotive electronic market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Continental, DENSO, Hella GmbH, Infineon Technologies, Robert Bosch, Valeo, ZF Friedrichshafen, Hitachi Automotive Systems, Visteon Corporation, and Xilinx are among the major automotive electronic providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/automotive-electronic-market.aspx or [email protected]