Surge in demand for in-vehicle safety feature, and rise in vehicles equipped with automated driving, fuel the growth of the global automotive electronics market

PORTLAND, OREGON, UNITED STATES, September 8, 2020 /EINPresswire.com/ -- Rise in adoption of IoT and AI in the automobiles, surge in demand for in-vehicle safety feature, and increase in the number of vehicles equipped with automated driving fuel the growth of the global automotive electronics market. On the other hand, rise in cost of automobile with more automated features curtail down the growth to certain extent. However, investment toward autonomous driving of vehicles in smart grids is expected to create multiple opportunities in the industry.

According to the report published by Allied Market Research, the global automotive electronics market was pegged at $228.34 billion in 2019 and is expected to hit $382.16 billion by 2026, registering a CAGR of 7.3% from 2019 to 2026. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

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On the basis of vehicle type, the passenger car segment contributed to nearly two-fifths of the total market revenue in 2019, and is expected to retain its dominance during the study period. At the same time, the HCV segment is anticipated to manifest the fastest CAGR of 9.0% by the end of 2026. The LCV segment is also discussed in the market report.

On the basis of component, the microcontrollers segment held the major share in 2019, garnering more than one-fourth of the global market. The processors segment, on the other hand, is anticipated to cite the fastest CAGR of 8.6% by 2026. The other segments assessed in the report include sensors and actuators.

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On the basis of geography, Europe generated nearly one-third of the total market share in 2019, and is projected to rule the roost till 2026. Simultaneously, LAMEA would showcase the fastest CAGR of 10.0% during the study period. The report also analyzes the market across North America and Europe.

The key market players analyzed in the global automotive electronics market report include Infineon Technologies AG, Robert Bosch, Aptiv PLC., NVIDIA Corporation, STMicroelectronics N.V., Renesas Electronics Corporation, Texas Instruments, NXP Semiconductors N.V., Continental AG, and Hitachi Ltd.These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.

Key Benefits for Stakeholders:

This report provides an extensive analysis of the current and emerging market trends and dynamics in the global automotive electronics market.
In-depth automotive electronics market analysis is conducted by semiconductor and electronics market estimations for the key market segments between 2019 and 2026.
Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the global automotive electronics market.

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Key Market Segments:

By Vehicle Type

Passenger Car
LCV
HCV

By Component

Sensors
Actuators
Processors
Microcontrollers
Others

By Application

ADAS
Infotainment
Body Electronics
Safety System
Power Train
Others

By Distribution Channel

OEM
Aftermarket

By Region

North America
U.S.
Canada
Mexico

Europe

UK
Germany
France
Russia
Rest of Europe

Asia-Pacific

China
India
Japan
Australia
Rest of Asia-Pacific

LAMEA

Latin America
Middle East
Africa

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About Us:

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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