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Automotive Electronics Market Share, Growth, Key Players,
Research and Forecasts to 2024 | Hexa Research
“ The global automotive electronics market is estimated to be valued more
than USD 290 billion by 2024.”
The global automotive electronics market is estimated to be valued more than USD 290 billion by 2024. Rising
premium audio system and advanced driver assistance system demands are the key factors anticipated to
augment the market growth. Accident recorder systems, emergency call systems, and alcohol ignition
interlocks are the technologies that are said to boost the growth in the near future. In addition, rising trend
of in-vehicle infotainment is also likely to help boost the market. High complexity levels and lacking
awareness about the overall subsystems’ understanding may hinder the growth. The global automotive
electronics market is divided into applications and regions.
The application sector comprises body electronics, Advanced Driver Assistance System (ADAS), infotainm ent,
safety systems, and powertrain. The regulatory boards of various economies have taken steps for integrating
safety gadgets in cars and other vehicles so as to restrain the occurrence of fatalities caused by road
accidents.
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Some of the necessary devices utilized to ensure passenger safety are backup sensing system,
airbags, on and off switches for air bags, auto dimming mirrors or electrochromatic mirror, head
restraints, energy-absorbing steering system, heads-up display, passenger sensing system, and
padded knee bolster.
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