Automotive Electronics Market to Witness Massive Growth by 2028 | Continental, Bosch, Denso Corporation, Panasonic
Published Via 11Press : The Most Recent study of the Global Automotive Electronics Market was carried out to analyze the performance of some of the industry’s best-kept secrets and better illustrate the level of competition. To determine the global market revenue size breakdown by major business segments and end-use applications, the report uses a combination of quantitative market statistics and qualitative data. The analysis spans the historical data from 2018 to 2022 and forecasts the industry through 2028*. The emergence of the newest situation in the automotive electronics market has left enterprises unsure about their future prospects owing to a severe economic downturn.
Automotive Electronics Industry Background: Automobiles that employ electronic systems and parts to improve their operation, safety, comfort, and efficiency are referred to as having automotive electronics. It includes a broad variety of innovations and uses that are included in contemporary automobiles. The need for automotive electronics is being driven by the transition to electric and hybrid cars. When it comes to managing battery power, motor control, regenerative braking, and charging infrastructure, electric cars significantly rely on complex electronic systems.
Rising consumer demand, technical improvements, and government efforts are all propelling consistent expansion in the global automobile business. Automotive electronics producers will benefit greatly from the move towards electric and hybrid automobiles. The overall cost of a vehicle may be greatly raised by the integration of cutting-edge electrical systems and components. The worldwide automotive electronics industry is supported by a complicated supply chain with several suppliers and component producers. It can be difficult to manage this intricate supply chain, guaranteeing a consistent and timely supply of components, and reduce risks like supply chain interruptions or shortages of essential components.
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| Attributes | Details |
| Study Period | 2018-2028 |
| Base Year | 2022 |
| Unit | Value (USD Million) |
| Key Companies Profiled | Continental AG (Germany), Bosch (Germany), Denso Corporation (Japan), Panasonic Corporation (Japan), Aptiv PLC (Ireland), Magna International Inc. (Canada), Infineon Technologies AG (Germany), Valeo SA (France), Autoliv Inc. (Sweden), Lear Corporation (United States). |
Growing Vehicle Electrification and Growing Demand for Advanced Safety are the main drivers of this expansion. Some of the market factors for automotive electronics include features. The need for automotive electronics is being driven by the transition to electric and hybrid cars. When it comes to managing battery power, motor control, regenerative braking, and charging infrastructure, electric cars significantly rely on complex electronic systems. As governments enact stronger emission restrictions and consumers express a rising interest in environmentally friendly transportation, this trend is anticipated to pick up speed. Both car makers and buyers now place a high priority on safety. Advanced safety technologies like adaptive cruise control, lane departure warning, collision avoidance systems, blind-spot recognition, and automated emergency braking all depend heavily on automotive electronics. To improve vehicle safety and lower the chance of accidents, these features rely on sensors, radars, cameras, and electronic control units (ECUs).
A clear market trend can be seen globally (mktTrend1), and major firms like Bosch (Germany), Continental AG (Germany), Denso Corporation (Japan), and Aptiv PLC (Ireland) are among them. Japanese company Panasonic Lear Corporation (United States), Autoliv Inc. (Sweden), Infineon Technologies AG (Germany), Magna International Inc. (Canada), Valeo SA (France), etc. With numerous major competitors operating internationally, the automotive electronics market’s competitive landscape is extremely dynamic and intense. Major participants in the automotive electronics industry include Robert Bosch GmbH, Continental AG, Denso Corporation, Aptiv PLC, and others. These businesses have a significant presence in the automotive electronics industry and provide a variety of goods and services, such as connection options, infotainment systems, electronic control units (ECUs), sensors, and driver assistance systems. They compete based on elements including technology advancement, product excellence, cost, global reach, and client connections.
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Major Developments Activities in the Market:
On 9 Nov 2022, “On a strategic quantum computing and materials science engagement, Bosch and IBM collaborated. The two businesses will collaborate on initiatives in the areas of material science for enhanced sensor materials, electric engines, and fuel cells. Today, IBM and Bosch said that they will collaborate on a strategic quantum computing project. Bosch will also join the IBM Quantum Network as part of this agreement. To research and further develop possible uses of quantum computing in the area of material science, experts from both firms will collaborate.”
On 4 May 2023, “The first completely automated battery discharge was created by Bosch. Plant. Local battery recycling and the recovery of raw materials will be crucial pillars in the construction of a circular economy in Europe. Bosch has now added hardware and software designed expressly for recycling operations to its portfolio of manufacturing equipment for the manufacture of batteries. The first fully automated battery recycling facility in Europe was constructed in Magdeburg by a joint venture between REMONDIS subsidiary TSR Recycling and Rhesus Automotive utilizing Bosch Rexroth technology.”
Regulatory Insights:
- In order to safeguard passengers, pedestrians, and other road users, governments and regulatory agencies impose safety requirements for automobiles.
- These requirements cover things like rules for occupant safety, braking systems, illumination, and electronic stability control.
- Manufacturers of vehicle electronics must adhere to safety regulations in order to guarantee the security of their goods.
- To minimize car emissions and fight air pollution, governments all around the world implement severe emission restrictions.
- To meet these criteria, it is essential for automotive electronics to regulate emissions, monitor exhaust systems, and optimize engine performance.
- Limits on carbon dioxide (CO2), nitrogen oxides (NOx), particulate matter (PM), and other pollutants may be included in emission regulations.
Influencing Trend:
- Two trends in the automotive electronics industry are rising vehicle production and technological advancements.
- Rising consumer demand, technical improvements, and government efforts are all propelling consistent expansion in the global automobile business.
- Automotive electronics are in high demand as the number of passenger automobiles, trucks, and electric vehicles increases.
- The automotive electronics industry is being driven by quick improvements in technology.
- Sophisticated electronic systems are needed for innovations like car networking, autonomous driving, electric powertrains, and increased safety measures.
- Automotive electronics producers work to provide more sophisticated and effective solutions as technology advances.
Market Growth Drivers:
- Growing Demand for Advanced Safety Features and Growing Vehicle Electrification are two market drivers for automotive electronics.
- The need for automotive electronics is being driven by the transition to electric and hybrid cars.
- When it comes to managing battery power, motor control, regenerative braking, and charging infrastructure, electric cars significantly rely on complex electronic systems.
- As governments enact stronger emission restrictions and consumers express a rising interest in environmentally friendly transportation, this trend is anticipated to pick up speed.
- Both car makers and buyers now place a high priority on safety.
- Advanced safety technologies like adaptive cruise control, lane departure warning, collision avoidance systems, blind-spot recognition, and automated emergency braking all depend heavily on automotive electronics.
- To improve vehicle safety and lower the chance of accidents, these features rely on sensors, radars, cameras, and electronic control units (ECUs).
Challenges:
- One of the difficulties the automotive electronics market faces is the complexity of the supply chain, which is followed by quality and reliability issues.
- Automotive electronics are essential to the performance, operation, and safety of vehicles.
- In order to satisfy consumer expectations and adhere to industry standards, the highest levels of quality and dependability must be maintained.
- To produce goods that adhere to the exacting standards of the automobile sector, manufacturers must put in place reliable testing and validation procedures.
- The worldwide automotive electronics industry is supported by a complicated supply chain with several suppliers and component producers.
- It can be difficult to manage this intricate supply chain, guaranteeing a consistent and timely supply of components, and reduce risks like supply chain interruptions or shortages of essential components.
Restraints:
- One of the challenges the automotive electronics business faces is cost limitations and complex supply networks.
- The overall cost of a vehicle may be greatly raised by the integration of cutting-edge electrical systems and components.
- Consumers who are concerned about prices, especially those in emerging nations, may find this challenging.
- Widespread adoption is still hampered by the need to balance customer affordability with the expense of automobile electronics.
- A complicated supply chain with numerous layers of vendors is involved in the automotive electronics sector.
- It can be difficult to coordinate the manufacture and delivery of different electronic components from numerous vendors, which could cause supply chain delays and interruptions.
Opportunities:
- Automotive electronics industry potential are provided by electric and hybrid vehicles, followed by connected and autonomous vehicles.
- Automotive electronics producers will benefit greatly from the move towards electric and hybrid automobiles.
- To handle battery power, motor control, charging infrastructure, and energy economy, these vehicles significantly rely on electronic systems.
- The market for automotive electronics is now more open to innovation and growth because of the rising popularity of electric and hybrid cars.
- Automotive electronics have a tonne of opportunity as linked and autonomous vehicles become more prevalent.
- To provide seamless connectivity, data interchange, and real-time information, connected car technologies such as vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication require modern electronic systems.
- Furthermore, the sensor fusion, perception, decision-making, and control systems used in autonomous driving technologies primarily rely on automotive electronics.
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