Introduction
Automotive Electronics is an electronic systems that are use din engine management, vehicles, ignition, radio, telematics, in-car entertainment systems and others. Ignition, engine, and transmission electronics are also found in trucks, motorcycles, off-road vehicles, and other internal combustion-powered machinery such as forklifts, tractors, and excavators.
Automotive Electronics market was valued at USD 228.56 billion in 2018. The market is expected to grow at a faster pace during the forecast period. The Automotive Electronics market is primarily driven growing adoption and integration of advanced safety-systems, such as airbags, and automatic Emergency Braking (AEB). Additionally, features, such as accident data recorder systems, alcohol ignition interlocks, and emergency call systems, are also gaining traction and are expected to upkeep the market growth over the forecast period.
Additionally, government regulations to minimize road fatalities, and technological advancements related to in-vehicle safety are boosting the demand for advanced safety systems. In addition, demand for in-car infotainment systems owing to efficiency, comfort, a nd convenience is estimated to fuel the market growth further.
Based on the component type, the Automotive Electronics market is segmented as ECU, Current Carrying Device, and Sensor. The current carrying devices segment led the market, owning to the higher cost, and increased demand for the electronic switch, and also, regulatory pressures on the manufacturers to reduce overall fleet emissions is adding up to production costs.
On the basis of application, the Automotive Electronics market is segmented as Safety System, ADAS, and Body Electronics. Safety systems to be the largest contributing segment during the forecast period.
Regional Analysis of Automotive Electronics Market
Asia Pacific to hold the largest market share in this industry, owning to the increasing electronic-component manufacturing industry in the Asian countries namely Taiwan, South Korea, Malaysia and Thailand. Taiwan, South Korea, Malaysia and Thailand
North America is expected to be the second-largest market. U.S. is expected to dominate the North American regional market over the forecast period owing to higher automotive production and presence of key manufacturers.
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