Automotive Electronics Market Size Worth USD 490.6 Billion By 2026 | CAGR
9.1%
Automotive Electronics are specially-designed electronics intended for use in automobiles.
Automotive electronics includes devices that have been designed and adapted for use in
automobile applications such as telematics, ADAS, and infotainment systems among others.
The applications of automotive electronics include vehicle and trailer tracking, wireless vehicle
safety communications, emergency warning system, intelligent vehicle technologies, car-
sharing technologies, satellite navigation, and road safety among others.
The demand for Automotive Electronics has increased owing to increasing need for road safety,
and growing demand for vehicles from emerging economies. Market players are developing
autonomous vehicles, which further increases the demand for automotive electronics. The
rising penetration of electric and hybrid vehicles has also resulted in market growth. There has
been a significant growth in the demand for luxury, comfortable, and technologically advanced
vehicles, thereby boosting the growth of the Automotive Electronics Market.
The Global Automotive Electronics Market is anticipated to reach around USD 490.6 billion by
2026 according to a new research published by Polaris Market Research. In 2017, the passenger
vehicles dominated the global market, in terms of revenue. In 2017, Asia-Pacific accounted for
the majority share in the market.
The introduction of stringent government regulations regarding vehicular safety and emissions
further increases the demand for automotive electronics. Growing demand from emerging
economies, and technological advancements are factors expected to provide numerous growth
opportunities in the coming years.
Asia-Pacific Automotive Electronics Market has generated the highest revenue in the market in
2017 owing to increasing disposable income and improved living standards in the region. The
established automotive industry, and strict government regulations have resulted in increasing
adoption of automotive electronics in the region.
The well-known companies profiled in Automotive Electronics Market report include Bosch
Group, Atmel Corporation, Delphi Automotive, Hitachi Automotive, Texas Instruments, Infineon
Technologies, ZF Friedrichshafen AG, ON Semiconductor Corp., OMRON Corporation., and
STMicroelectronics N.V. These companies launch new products and collaborate with other
market leaders to innovate and launch new products to meet the increasing needs and
requirements of consumers.