Automotive Electronics Industry Analysis, Overview & Statistics to 2024

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Automotive Electronics Market for passenger cars
to exceed 350 billion by 2024
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Key Insights from Automotive Electronics Market

• The development of intelligent vehicle
  technologies owing to the need for advanced
  safety comfort parameters drives the automotive
  electronics market growth. These enhanced
  vehicular systems consist of several electronic
  components including smart sensors, powerful
  ECUs, mechatronic parts, etc., further generating
  a demand for automobile electronics.
• Growing government concerns regarding road
  vehicle safety, traffic congestion reduction, and
  energy resource conservation across the globe are
  accelerating the automotive electronics market
  growth. The need to reduce vehicular pollution
  and consume lesser fuel in automotive vehicles
  has accounted for the emergence of electric
  battery-operated vehicles in several countries
  including China and the U.S., among others.
  Moreover, several governments have started
  supporting developments in self-driving cars to
  avoid road fatalities and provide passenger
  safety, which is another factor accounting for
  the industry growth.
• ADAS systems have also gained a substantial
  penetration in the automotive electronics market
  and will grow at a CAGR of over 9.5 owing to the
  safety driving benefits provided by these
  systems.

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Continued

• The passenger cars segment is experiencing a
  rapid growth in the automotive electronics market
  to reach over 85 revenue share by 2024 due to
  developments including safety driving
  assistance, infotainment, etc. The newly
  developed passenger vehicles integrate several
  enhanced systems that offer advanced safety and
  luxury features to its consumers, further
  generating the requirement for automotive
  electronics market products.
• Additionally, commercial vehicles are also
  gaining substantial popularity in the market
  owing to the deployment of advanced safety, night
  driving, and engine control systems. These
  vehicles require robust and high engine
  management systems having several electronic
  components, further adding up to the industry
  demand across the globe.

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5
China automotive electronics market size, by
application, 2017 2024 (USD Million)

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Major Companies in Automotive Electronics Market

• Bosch Group,
• Continental AG,
• Lear Corporation,
• Hyundai Mobis,
• Magna International,
• Altera Corporation,
• Delphi,
• Infineon Technologies,
• Texas Instruments, and ZF Friedrichshafen AG

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Industry Coverage

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Regional Insights in Automotive Electronics
Market

• Asia Pacific region is growing at a rapid pace in
  the automotive electronics market owing to an
  accelerated growth in vehicle related part
  manufacturing activities in countries including
  China, Japan, and South Korea. Additionally, this
  growth is attributed to the high penetration of
  automotive and electronics manufacturers in the
  region and increasing export activities to North
  American and European nations. The increased
  automobile consumption in India and China owing
  to the rapid population growth creates
  opportunities for industry growth.
• Europe automotive electronics market valued at
  over USD 80 billion in 2017 is also experiencing
  growth owing to the presence of leading luxury
  and passenger car manufacturers and a high demand
  for comfort and infotainment systems.

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