Automotive electronics Market 2016 - 2023 Automotive Electronics Market Size By Application (ADAS, Infotainment, Powertrain, Body Electronics, Safety Systems), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2016 – 2023
Global Market Scenario of Automotive electronics • Automotive electronics market size is anticipated to reach USD 353 billion by 2023, growing at a CAGR of 8.4% from 2016 to 2023. • Increasing usage in end-use industries is likely to fuel demand. Benefits including alcohol ignition interlocks, emergency call system, and accident data recorder system are expected to boost growth over the forecast period. • New technologies such as low-speed collision avoidance system and driver assistance system provide several advantages by installation of map-enabled equipment in automotives. • Proliferating need for highly developed direct-injection diesel engines is anticipated to fuel automotive electronics market size over the coming few years.
Continue..... • LED technologies such as high or low beam lights as well as daylight running lamps offer better fuel efficiency at low power consumption. • Rising complexities such as harsh operating environment, hardware & software, and tolerance stack-up are expected to restrain automotive electronics market growth over the forecast period. • In addition, lack of consciousness regarding coordination issues as well as interplay of subsystem among original equipment manufacturers is also anticipated to hinder demand growth. • integration of safety devices such as airbags, auto dimming mirrors & electro chromatic mirror, heads-up display and back up sensing system are also likely to propel automotive electronics market growth from 2016 to 2023.
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