SELLBYVILLE, Del., Dec. 15, 2017
/PRNewswire-iReach/ -- Automotive Electronics Market share is
estimated to exceed USD 390 billion
by 2024; according to a new research report by Global Market
Insights, Inc. Shifting consumer preference towards vehicles with
safety equipment including map-supported front lighting, collision
warning, and speed alert will drive automotive electronics demand.
Benefits including low speed collision avoidance system, emergency
call system and alcohol ignition interlocks will fuel product
penetration.
Upsurge demand in overall fleets number along with their high
average age will propel the automotive electronics market
expansion. The global vehicle production is likely to surpass 130
million units over the upcoming eight years, thus booming the
industry demand.
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Continued penetration of advanced technology into nearly all the
automobile main systems is expected to drive the industry growth.
For instance, in Europe more than
40% of the on-board devices in the entire car is based on
electronic and the percentage is likely to rise with the
improvement in existing regulations & norms governing the
automotive electrical components market.
In addition, the U.S. New Car Assessment Program (NCAP) has
mandated lane departure warning systems and emergency braking
systems to guarantee a five-star rating for passenger cars. This
will propel the automobile microelectronics demand.
ADAS will be worth over USD 60
billion by 2024. Strict safety norms are among the major
contributing factor for ADAS penetration in cars' active security
systems. Assured road safety along with offering comfort driving
will facilitate demand.
Preventive actions undertaken by various countries to curb
fatalities will provide significant opportunities for the industry
players. However, absence of effective supply agreement between
several OEM and subsystems manufacturer may impact automotive
electronics market price trend.
Increase in consumer spending on entertainment systems in
vehicles including satellite radios, MP3 players and rear set
entertainment system will fuel product demand. Surge in disposable
income has boosted the growth for high-end and luxury car sectors,
thereby contributing to the automobile electrical components market
size.
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North America automotive
electronics market is anticipated to witness an increase in overall
growth of 8.5% up to 2024. Safety systems and powertrain are among
the major contributing applications. Increasing technological
development coupled with growing concern over safety and security
in vehicles has positively influenced demand.
Asia Pacific generated over
USD 90 billion in 2016, shift of
automobile electrical component manufacturer production unit to
Asia owing to the availability of
lesser cost equipment and labor. Need to meet international
regulatory standards in order to promote export will facilitate
industry growth.
Thailand, Vietnam, India, and Indonesia are among the key promising
contributor in APAC. Significant rise in the consumer's income
level propelling the demand for upgraded systems thus boosting
regional industry growth.
Global automotive electronics market share is highly competitive
owing to large presence of domestic and global industry players.
Bosch Group, Continental AG, Denso, Delphi, Dow Corning, Hitachi
and Panasonic are the major revenue generating companies.
Other prominent players in terms of product offering and
geographical presence are Altera, Audiovox, Avago Technologies,
Atmel, Infineon Technologies AG, Texas instruments, Wipro and TRW.
Browse key industry insights spread across 150 pages with 170
market data tables & 24 figures & charts from the report,
"Automotive Electronics Market Size By Application (ADAS, Body
Electronics, Entertainment, Powertrain, Safety Systems), Industry
Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, Czech
Republic, Poland,
Slovakia, Spain, Turkey, China, India,
Japan, South Korea, Thailand, Australia, Malaysia, Philippines, Taiwan, Vietnam, Indonesia, Brazil, Mexico, Argentina, Iran, South
Africa, Egypt), Growth
Potential, Price Trends, Competitive Market Share & Forecast,
2017 – 2024" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-electronics-market
Chapter 3 Automotive Electronics Industry
Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013- 2024
3.3 Industry ecosystem analysis
3.3.1 Component suppliers
3.3.2 Manufacturers
3.3.3 Applications
3.3.4 Profit margin trends
3.3.5 Distribution channel analysis
3.3.6 Vendor matrix
3.4 Industry impact forces
3.4.1 Growth drivers
3.4.1.1 Increasing implementation of stringent regulations and
standards across the globe
3.4.1.2 Rise in merger and acquisition in the global automotive
world
3.4.2 Industry pitfalls & challenges
3.4.2.1 Difficulty of OEMs in maintaining and managing the
automotive electronics businesses
3.5 Global automotive industry landscape
3.6 Growth potential analysis
3.7 Automotive electronics company market
share analysis,2016
3.7.1 Strategy dashboard
3.8 Porter's analysis
3.9 PESTEL analysis
Browse Full TOC @
https://www.gminsights.com/toc/detail/automotive-electronics-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research
and consulting service provider; offering syndicated and custom
research reports along with growth consulting services. Our
business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially
designed and presented to aid strategic decision making. These
exhaustive reports are designed via a proprietary research
methodology and are available for key industries such as chemicals,
advanced materials, technology, renewable energy and
biotechnology.
Media Contact: Arun Hegde,
Global Market Insights, Inc., +13028467766,
sales@gminsights.com
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SOURCE Global Market Insights, Inc.