Automotive Electronics Market Is Projected To Be Around $334.80 Billion By 2022
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A research study titled, “Automotive Electronics Market by Application - Global Industry Analysis and Forecast to 2022” published by Crystal Market Research, states that the Automotive Electronics Market is projected to be around $334.80 billion by 2022.
The global Automotive Electronics market was worth USD 150 billion in the year 2012 and is expected to reach approximately USD 334.80 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 7.49 percent during the forecast period. Automotive electronics are electronic frameworks utilized as a part of street vehicles, for example, engine management, ignition, radio, telematics, in-car entertainment systems and others. Electronic frameworks have turned into an undeniably expansive segment of the cost of an automobile, from just around 1 percent of its incentive in 1950 to around 30 percent in 2010. The earliest electronics systems accessible as production line establishments were vacuum tube auto radios, beginning in the mid-1930s. The advancement of semiconductors after WWII incredibly extended the use of hardware in cars, with strong state diodes making the automotive alternator standard after around 1960, and the primary transistorized ignition frameworks showing up around 1955. Electronically-controlled ignition and fuel infusion frameworks let automotive architects accomplish vehicles meeting necessities for mileage and lower emissions, while still keeping up irregular amounts of effect and comfort for drivers.
The development towards advanced safety systems is anticipated to drive the global automotive electronics market throughout the upcoming years. Emergency call systems, alcohol ignition interlocks, and accident data recorder systems are an example of progression where future demand is relied upon to spur market development. Security advances additionally include map-supported adaptive front lighting, speed alert, usage data transmission and collision warning. Lack of awareness about the general understanding of the interplay of subsystems and problems of OEMs in maintaining and managing the procedure with implanted controllers that are produced by tier-1 providers is anticipated to challenge future market growth of this industry.
On the basis of application the market is segmented into Safety Systems, Infotainment, Powertrain, Body Electronics and ADAS. The major market players of the automotive electronics market are Robert Bosch GmbH, TRW Automotive, Denso, Continental AG, Delphi Automotive and Johnson Controls. Geographically, the market is segmented into Europe, North America, Asia Pacific and Rest of the world.
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Key Findings of the Automotive Electronics market
- Developed penetration towards hybrid vehicles (HEV) and electric vehicles (EV) is anticipated to increase the demand of the automotive electronics component. This is credited to reduced product cost related to emission controls and improved lithium-ion battery cooling capacities.
- Application portions incorporate infotainment, ADAS, safety, powertrain and body electronics. ADAS is relied upon to display high development throughout the following years. This development is owing to stringent security directions prompting the extensive scale appropriation of active security frameworks in modern cars.
- Expansion of in-car infotainment systems inferable from eco-comfort, efficiency and security factors is additionally evaluated to emphatically affect automotive electronics market development. Requirement for in-car information storage to help refined in-car highlights is anticipated to be the key development driver for the infotainment systems.
- In 2013 North America was the biggest regional market. Asia Pacific is anticipated to witness high development because of rising requirement for lessened generation cost, modified vehicle highlights, meet stringent principles and augmentation of product quality. Regions, for example, India and China are anticipated to positively impact local market development.