According to a market report by Lucintel, the future of the automotive electronic market looks promising with opportunities in the ADAS, infotainment, body electronics, safety systems, and powertrain electronics market. The global automotive electronic market is expected to grow with a CAGR of 7% to 9% from 2023 to 2028. The major drivers for this market are introduction of autonomous cars and increasing adoption of advanced safety systems, such as parking assistance systems, airbags, and lane departure systems.
In this market, electric control unit, sensors, and current carrying devices are the major segments by component. Lucintel forecasts that current carrying devices will remain the largest segment over the forecast period due to increase in demand for advanced safety and comfort features in passenger cars as well as commercial vehicles.
Within this market, safety systems are expected to remain the fastest growing segment 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.
APAC will remain the largest region due to increase in automotive production and rise in investment towards autonomous driving of vehicles in smart grids.
Continental, DENSO, Hella GmbH, Infineon Technologies, Robert Bosch, Valeo, ZF Friedrichshafen, Hitachi Automotive Systems, Visteon Corporation, and Xilinx are the major suppliers in the global automotive electronic market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive electronic market by component, application, distribution channel, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Automotive Electronic Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive electronic market by component, application, distribution channel, and region, as follows:
Automotive Electronic Market by Component [Value ($B) Shipment Analysis from 2017 to 2028]:
· Electronic Control Unit
· Sensors
· Current Carrying Devices
· Others
Automotive Electronic Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
· ADAS
· Infotainment
· Body Electronics
· Safety Systems
· Powertrain Electronics
Automotive Electronic Market by Distribution Channel [Value ($B) Shipment Analysis from 2017 to 2028]:
· OEM
· Aftermarket
Automotive Electronic Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Automotive Electronic Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the 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)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?