The growth is accredited to the presence of emerging automotive manufacturing countries such as China, Japan, and India
Recently the study conducted by Grand View Research revealed that the global automotive electronics market size is expected to reach USD 410.13 billion by 2025.During forecast period it is anticipated to expand a CAGR of 8.6 per cent.And many countries are framing new regulations for manufacturers mandating the installation of automated safety systems in vehicles.
The European Commission and China launched NCAP, which mandates the installation of Automatic Emergency Braking (AEB) and Lane Departure Warning (LDW) features, thus improving the vehicle safety standards. Additionally, the companies are also integrating features, such as Advanced Driver-Assistance Systems (ADAS) along with the infotainment systems.
NVIDIA Corporation introduced the DRIVE CX platform that is a hardware module with software updates which can be used for infotainment,also ADAS solutions in next-generation autonomous vehicles.
Strict government regulations on fuel emission standards are also likely to have a positive impact on automotive electronics demand. Moreover, the transition towards advanced safety systems, such as alcohol ignition interlocks, emergency call systems, and accident data recorders,anti-lock braking and airbags in automobiles are expected to drive the global automotive electronics market over the next eight years.
The Asia Pacific led the market in 2017 and is expected to continue its dominance over the forecast period. This growth is accredited to the presence of emerging automotive manufacturing countries, such as China, Japan, and India.
Demand for more interactive systems like embedded vision systems capable of real-time image tracking has gained prominence, specifically in North America and Europe regions.
For instance, the U.S. Department of Transportation has mandated safety equipment, such as the backup camera in all new vehicles, thus, increasing vehicle costs by $200 for the new base models.
Key Findings
• The global automotive electronics market is led by safety systems,the segment of relays, fuses, wiring, and connectors are expected to lead the global market due to the high usage
• Key players in the in the global market include Robert Bosch GmbH, Continental Corporation, Intel Corporation, Denso Corporation, Aptiv PLC, and ZF Friedrichshafen AG.
