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Automotive Electronics Market Size Worth $493.69 Billion By 2027

The global automotive electronics market size is likely to account for USD 493.69 billion in 2027, as per a new report by Million Insights. It is predicted that the market would register 9.0% CAGR from 2020 to 2027.

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Automotive Electronics Market Size Worth $493.69 Billion By 2027

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  1. Automotive Electronics Market Size Worth $493.69 Billion By 2027 “The global automotive electronics market size is likely to account for USD 493.69 billion in 2027. It is predicted that the market would register 9.0% CAGR from 2020 to 2027. Increasing sales of hybrid and electric vehicles are proliferating the growth of the market.” The global automotive electronics market size is likely to account for USD 493.69 billion in 2027. It is predicted that the market would register 9.0% CAGR from 2020 to 2027. Increasing sales of hybrid and electric vehicles are proliferating the growth of the market. In addition, integration of advanced systems such as ABS, sensors, airbags and others is supplementing the market growth for automotive electronics. In addition, governments across the globe are focusing on implementing ADAS systems to ensure road safety. The integration of warning systems for lane departure and automatic emergency braking has been mandated in Europe, U.S and China. Such regulations have led to the installation of various electronics components in the production stage of the vehicles. North America and Europe are witnessing significant growth for in-vehicle infotainment systems, which, in turn, is likely to supplement the market growth. However, Asia Pacific accounted for the largest share in the market in 2019. This is large because of increasing vehicle sales in China and Japan. India, on the other hand, is showing promising growth as well. Key players in the market are Panasonic Corporation,Aptiv PLC,Continental AG, Intel Corporation, ZF Friedrichshafen AG, and Broadcom Ltd among others. These companies are focusing on expanding their market presence in emerging countries. New product development and partnerships are some of the major strategic initiatives adopted by these companies. Further key findings from the report suggest: • By components, the current-carrying division accounted for the highest share in the automotive electronics marketin 2019, owing to the growing focus on safety features. Request Sample Copy of This Market Research @ https://www.millioninsights.com/industry-reports/automotive-electronics-market/request-sample

  2. • The safety category is likely to account for the highest share in the market throughout the forecast duration. • In 2019, OEMs held the highest share in the market as most of the electronic components are integrated during the manufacturing process itself. • Asia Pacific is projected to witness over 9% CAGR from 2020 to 2027 owing to rising vehicle demand from India and China. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/automotive-electronics-market Million Insights segmented the global automotive electronics market based on component, application, sales channel, and region: Automotive Electronics Component Outlook (Revenue, USD Million, 2016 - 2027) • Electronic Control Units • Sensors • Current Carrying Devices • Others Automotive Electronics Application Outlook (Revenue, USD Million, 2016 - 2027) • ADAS • Infotainment • Body Electronics • Safety Systems • Powertrain Electronics

  3. Automotive Electronics Sales Channel Outlook (Revenue, USD Million, 2016 - 2027) • OEM (Original Equipment Manufacturer) • Aftermarket Automotive Electronics Regional Outlook (Revenue, USD Million, 2016 - 2027) • North America • U.S. • Canada • Europe • Germany • U.K. • Asia Pacific • China • Japan • India • Latin America • Brazil • Mexico • Middle East & Africa (MEA) See More Reports of this Category by Million Insights @ https://www.millioninsights.com/industry/automotive-and-transport

  4. Get in touch At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions. Contact Person: Ryan Manuel Research Support Specialist, USA Email: ryan@millioninsights.com Global Headquarters Million Insights Felton Office Plaza 6265 Highway 9 Felton, California 95018, United States Phone: 1-408-610-2300 Email: sales@millioninsights.com Asia Pacific Million Insights Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016 India Phone: 91-20-65300184

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