Global Automotive Electronic Devices Market

By Author: Rupali Dagade
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Global Automotive Electronic Devices Market is anticipated to reach US$ XX Mn by 2026 from US$ XX Mn in 2019 at a CAGR of 16.6% during a forecast period.

Global Automotive Electronic Devices Market Overview

Nowadays, high-tech electronic devices are a permanent fixture in automobiles, performing a variety of roles ranging from fuel regulation to trouble detection. In today's vehicles, anywhere from 30 to 80 independent electronic controls – the majority of which are for safety – are included. Electronic components such as adaptive cruise control and lane assist systems account for around 30% of a vehicle's expense, and that figure is expected to rise during the forecast period. Advanced driving assistance, infotainment, and convenience enhancement are some of the other features served by vehicle electronic devices.

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The report also covers the detailed analysis of the global automotive electronic devices industry with the classifications of the market based on product, sales channel and region. Analysis of past market dynamics ...
... from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player's contribution in it.

Global Automotive Electronic Devices Market Dynamics

Technological progress has increased across vehicle segments in the passenger car market in particular. The use of electronic material in automobiles began when cars, alternators, regulators, and other electronic elements were introduced into the automotive entertainment system. Customer demand and legislative pull have led to other technological advances in the area of automotive electronics devices.

Growing car content is growing to $230 billion in 2021, up from $140 billion in 2019, and is leading the global automotive electronics industry. The total costs of electronics devices in a vehicle are expected to hit 45 % by 2026 thanks to an increasing number of sensors and ECU installations. This in turn is expected to drive the growth of the automotive electronics devices market globally.

Similarly, rising R&D spending to create more advanced devices, as well as increased traffic congestion caused by the number of vehicles owned per family worldwide, is expected to fuel the demand for electronic devices much higher. Also, the Integration of diverse systems is a recent visible development in the global automotive electronic devices market that can continue to broaden the potential for innovations, systems, and designs while still lowering costs.

Flourishing automotive industry in the Asia Pacific region to create market opportunities

The Asia Pacific market is expected to boost global automotive electronics devices development due to highly competitive market scenarios. Government mandates on emission and safety standards are driving the growth of electronics devices in powertrain and safety programs around the world.

Global Automotive Electronic Devices Market Segmentation Analysis

By Product, the Entertainment systems segment is expected to grow at the largest CAGR of nearly 19.7% during the forecast period. Entertainment systems like satellite radio, DVD, audio, and dashboard players are mostly used. The entertainment system includes managing and playing audio content, utilizing navigation for driving, delivering rear-seat entertainment such as movies, games, social networking, etc. A global industry practice integrates several systems into one, which further increases the scope of emerging technologies or systems, design variations, and cost optimization. This is expected to fuel demand in the world market for automotive electronic devices.

Major Components and Share by Value (%)

• Car Radio/ Head Unit: 60%

• Speakers: 40%

By Sales Channel, the OEM segment is expected to grow at the largest CAGR of nearly 67% during the forecast period due to improved reliability and shelf life of electronic devices. As electronic components are integral components of vehicles, customers tend to purchase genuine components through OEMs. In addition, due to the increasing difficulty of the production of these electronic components, electronic aftermarket components are expected to have a smaller sales share during the projected period.

OEM Willingness to work with Indian Suppliers:

Indian OEMs (Bajaj Auto, Mahindra and Mahindra, Tata Motors, and Others) prefer to work with Indian suppliers over foreign OEMs (Maruti Suzuki, Honda Cars, Hyundai, and Others). The ability of Indian OEMs to collaborate with Indian suppliers is higher in less critical programmed areas such as Infotainment, Comfort & Convenience, and Body Electronics than in other critical programmed areas such as Powertrain and Safety.

North America has the highest market share for automotive electronic devices, but it is projected to rise slowly over the forecast period. A similar pattern is expected in European countries, where the euro debt crisis has had a significant negative impact on business growth. The vehicle industry has become more buoyant in the rapidly rising markets of the Asia Pacific and Latin America, and it is expected to grow gradually during the forecast period.

Over the forecast period, Asia Pacific is expected to make a significant contribution to the global demand for automotive electronic devices. The Chinese government has encouraged C-safety NCAP's evaluation, reassuring consumers that a five-star ranking is a criterion for vehicle quality. The two regions' heavily populated developing markets are expected to fillip demand due to a rapidly growing urban population with the means to splurge on luxury goods. Regulatory policies are also projected to fuel market growth.

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Global Automotive Electronic Devices Market Scope: Inquire before buying

Global Automotive Electronic Devices Market by Region

• North America
• Asia pacific
• Europe
• Middle East and Africa
• South America

Global Automotive Electronic Devices Market Key Players

• Antex
• Philips
• Sanyo
• Delphi Automotive Systems
• Yamaha
• Denon
• Sony
• General Motors
• Volkswagen Group
• Ford Motor Company
• Fiat Chrysler
• Daimler
• PSA Peugeot Citroën
• Bajaj Auto
• Mahindra and Mahindra
• Tata Motors

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