Overview
Automotive Electronics Market is projected to be worth USD 415.73 Billion by 2030, registering a CAGR of 7.35% during the forecast period (2022 - 2030), The market was valued at USD 233.61 billion in 2021.The automotive electronics market research report offers a comprehensive analysis of the global automotive electronics market and its application, region, sales channel, and type segments. The growing concerns about safety along with concerns regarding protection of electronic systems are the elements that could influence the automotive electronics market advancement throughout the forecast period. The automotive electronics market by expert analysts is developed to assist organizations in the automotive electronics market.
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Market Segmentation
Major elements such as concerns regarding damage as well as maintenance and replacement cost could obstruct the automotive electronics market growth. However, according to the automotive electronics market, increased level of autonomy along with a high focus on quality and security will propel growth throughout the forecast period.
The automotive electronics market is set to register growth at a high CAGR owing to these key factors. The exploration of application, region, sales channel, and type segments along with regional markets has been given in the global automotive electronics market. The research analysts studying the automotive electronics market have put out market forecasts in the automotive electronics market to support automotive electronics market-based companies. The automotive electronics market provides an extensive understanding of the automotive electronics market based on the information and forecasts till 2023.
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Regional Overview
North America, Europe, Asia Pacific, and the rest of the world regional market for automotive electronics are predominantly covered in the global automotive electronics market. Country-level automotive electronics markets spread across North America – the United States, Canada, and Mexico are also covered in the report.
In South America – Brazil and other country-level automotive electronics markets are covered in the report. In Asia-Pacific (APAC) region, the country-level automotive electronics markets covered are Japan, India, China, and others. The automotive electronics market also explores the regional market for automotive electronics present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The automotive electronics market also covers regional markets from the rest of the world alongside automotive electronics markets of Africa and the Middle East.
Competitive Landscape
Demand for electric vehicles is presumed to drive the automotive electronics market growth worldwide. The global automotive electronics market could be challenged by stringent government regulations, nevertheless, organizations in the automotive electronics market will carry the growth rate forward. The automotive electronics market presents company profiles of major companies active in the automotive electronics market globally.
Furthermore, the global automotive electronics market report offers an all-inclusive analysis of the market collected from the automotive electronics market’s primary and secondary sources covering both decision makers and thought leaders. The automotive electronics market highlights such key areas assisting businesses operating in the automotive electronics market to build better growth strategies.
The global automotive electronics market has been segmented based on application, region, sales channel, and type. Based on application, the market for automotive electronics is segmented based on electric vehicle, heavy commercial vehicle, light commercial vehicle, passenger cars, and two-wheeler. Additionally, the market based on the sales channel, is segmented into OEM and aftermarket. The global market for automotive electronics is also covered based on type segment, which is further split into advanced driver assistance systems, body electronics, entertainment, powertrain, safety systems, and others.
Industry News
Mando, one of the leading automotive parts firms, has signed an equity acquisition deal (SPA) between Korea's Halla Holdings and HELLA to buy 100% of the equity of MHE. Established in 2008 and each holding a 50 percent stake in MHE, MHE is a co-entreprise between Halla Holding, Mando's parents, and HELLA, German automotive parts provider. In conjunction with the SPA, Mando acquired the equity of Halla Holdings and HELLA at KRW 165 trillion, which accounted for 100%. The deal is scheduled to close within the first quarter of 2021, approved by each side.
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