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Automotive Electronics Market Size By Vehicle Type (Passenger Cars, Commercial Vehicles), By Application (Advanced Driver Assistance System (ADAS)[ Adaptive Cruise Control, Blind Spot Detection, Parking Assistance, Automated Emergency Braking, Night Vision, Lane Department Warning], Body Electronics, Infotainment & Communication [Audio, Display, Navigation, Head-Up Display, Communication], Powertrain [Engine Controllers, Transmission Drivetrain, Exhaust, xEV], Safety Systems), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI183
  • Published Date: Jan 2023
  • Report Format: PDF

Industry Statistics

Automotive Electronics Market size surpassed USD 250 billion in 2022 and is projected to register 8% CAGR from 2023 to 2032, driven by the growing emphasis on improving passenger safety.
 

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Efforts to improve the driving experience and safety of heavy commercial vehicles would boost product penetration by 2032. For instance, in January 2022, Volvo Trucks unveiled Active Grip Control, a safety feature for electric trucks. The new technology can improve stability, acceleration, and braking in bad weather. Innovation in semiconductor technology, advancements in chip design, and the growing need for vehicles with higher safety ratings would offer promising growth prospects for the manufacturers in automotive electronics market by 2032.
 

The lack of skilled professionals and the high cost of repairing automotive electronics may hamper industry growth. The sector heavily relies on professionals that hold expertise across areas like vehicle mechanics, electric motor design, vehicle architecture and more. The high expenditure of maintenance and repair of vehicles fitted with safety features like Advanced Driver Assistance Systems (ADAS) could impede automotive electronics industry to some extent. Furthermore, expensive insurance policies for the maintenance and service of ADAS-equipped cars may also restrain market growth.
 

Robust demand for safety features in commercial vehicles

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Automotive electronics market share from commercial vehicles is poised to observe 5% growth during 2023 to 2032. The commercial vehicle sector is evolving at a stellar rate with the introduction of advanced autonomous and electric vehicles. Businesses in the transport and commercial logistics industry are heavily relying on connectivity solutions to streamline their operations. The use of features like electronic traction control, adaptive distance-control systems and ADAS, in heavy commercial vehicles will influence product demand.
 

In addition, in September 2022, Xos, Inc., a leading technology company, unveiled a suite of ADAS features that will be rigged into all Xos stepvans moving forward as a standard feature. Advancements like these will propel the usage of automotive electronics in commercial vehicles.
 

Increasing auto manufacturing to influence product penetration in the powertrain sector

The industry size from the powertrain application segment is predicted to witness nearly 9% gains through 2032. Automotive production has increased in developing regions like Brazil, India and Mexico. Several regional and national regulatory organizations have introduced new guidelines to encourage automakers to employ cutting-edge production methods. These new manufacturing technologies will speed up powertrain assembly that enables companies to follow regulations.
 

Presence of leading automakers in APAC industry

Authors: Preeti Wadhwani, Aayush Jain

Frequently Asked Questions (FAQ) :

The market size of automotive electronics exceeded USD 250 billion in 2022 and is projected to witness 8% CAGR from 2023 to 2032, according to GMI report.
The industry share from the powertrain application segment is predicted to observe 9% growth between 2023 and 2032 attributed to the rising automobile production across China and Brazil.
Asia Pacific held around 40% of the global market share in 2022 driven by presence of leading automakers in China and India for intensifying auto sales.
Some of the leading automobile electronic companies are Magna International, Inc., Lear Corporation, BorgWarner Inc., Broadcom Inc., VALEO, Continental AG, Robert Bosch GmbH, ZF Friedrichshafen AG, and Denso Corporation.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 377
  • Countries covered: 26
  • Pages: 230
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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