Automotive Electronics Market to hit $390bn by 2024

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Automotive Electronics Market Price, Trends,
Industry Outlook Forecast 2017-2024
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Key Insights from Automotive Electronics Market

• Shifting consumer preference towards vehicles
  with safety equipment including map-supported
  front lighting, collision warning, and speed
  alert will drive automotive electronics demand.
  Benefits including low speed collision avoidance
  system, emergency call system and alcohol
  ignition interlocks will fuel product
  penetration.
• Upsurge demand in overall fleets number along
  with their high average age will propel the
  automotive electronics market expansion. The
  global vehicle production is likely to surpass
  130 million units over the upcoming eight years,
  thus booming the industry demand.
• In addition, the U.S. New Car Assessment Program
  (NCAP) has mandated lane departure warning
  systems and emergency braking systems to
  guarantee a five-star rating for passenger cars.
  This will propel the automobile microelectronics
  demand.
• ADAS will be worth over USD 60 billion by 2024.
  Strict safety norms are among the major
  contributing factor for ADAS penetration in cars
  active security systems. Assured road safety
  along with offering comfort driving will
  facilitate demand.

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Continued...

• Increase in consumer spending on entertainment
  systems in vehicles including satellite radios,
  MP3 players and rear set entertainment system
  will fuel product demand. Surge in disposable
  income has boosted the growth for high-end and
  luxury car sectors, thereby contributing to the
  automobile electrical components market size.
• North America automotive electronics market is
  anticipated to witness an increase in overall
  growth of 8.5 up to 2024. Safety systems and
  powertrain are among the major contributing
  applications. Increasing technological
  development coupled with growing concern over
  safety and security in vehicles has positively
  influenced demand.
• Other prominent players in terms of product
  offering and geographical presence are Altera,
  Audiovox, Avago Technologies, Atmel, Infineon
  Technologies AG, Texas instruments, Wipro and TRW.

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North America Automotive Electronics Market, By
Application, 2013-2024, (USD Billion)

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Major Companies in Automotive Electronics Market

• Bosch Group
• Continental AG
• Denso
• Delphi
• Dow Corning
• Hitachi
• Panasonic
• Infineon Technologies AG

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Industry Coverage

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Regional Insights in Automotive Electronics
Market

• North America automotive electronics market is
  anticipated to witness an increase in overall
  growth of 8.5 up to 2024. Safety systems and
  powertrain are among the major contributing
  applications. Increasing technological
  development coupled with growing concern over
  safety and security in vehicles has positively
  influenced demand.
• Asia Pacific generated over USD 90 billion in
  2016, shift of automobile electrical component
  manufacturer production unit to Asia owing to the
  availability of lesser cost equipment and labor.
  Need to meet international regulatory standards
  in order to promote export will facilitate
  industry growth.
• Thailand, Vietnam, India, and Indonesia are among
  the key promising contributor in APAC.
  Significant rise in the consumers income level
  propelling the demand for upgraded systems thus
  boosting regional industry growth.

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