Global Automotive Electronics Market to Reach US$495 Billion by 2030 Driven by Consumer Safety & Convenience and Electric & Autonomous Vehicles

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Industry Experts, Inc. has released its latest report on Automotive Electronics Market. As per this new report, the demand for automotive electronics is estimated at US$300.1 billion in 2024 and projected to reach US$494.9 billion by 2030 at a 2024-2030 CAGR of 8.7%.

Some of the factors instrumental in driving demand for Automotive Electronics include a growing consumer need for safety and convenience, increase in the production & sales of electric & autonomous vehicles and regulations aimed at minimizing emissions and improving safety. Key among these is consumer demand for advanced safety and convenience features, with vehicles equipped with ADAS, infotainment systems and connectivity features being much sought after. Providing a safe driving experience has become the hallmark of modern vehicles that are now equipped with systems to detect and prevent collisions, such as automatic emergency braking, lane-keeping assist and adaptive headlights.

The global Automotive Electronics demand by vehicle type is dominated by Passenger Cars, which will also clock the fastest growth over the analysis period. This can be attributed to the increasing incorporation of advanced electronic systems in passenger vehicles with the goal of improving safety, efficiency and comfort. Consumers of today need a car equipped with connectivity, infotainment and advanced driver assistance systems (ADAS), apart from complying with stringent regulatory standards for safety and emissions. Electric and hybrid passenger cars are now becoming the norm, which further require these highly complex electronic control and battery management systems for efficient functioning.

The report studies the Automotive Electronics market across all major regions including North America (The United States, Canada and Mexico), Europe (France, Germany, Italy, Russia, Spain, The United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), South America (Argentina, Brazil and Rest of South America) and Middle East & Africa.

The market for major components of Automotive Electronics analyzed in this report include Current Carrying Devices, Electronic Control Units (ECUs), Sensors and Other Components (Incl. Actuators, Controls, Displays, Integrated Circuits, Harnesses & Switches). The study also examines the market for Automotive Electronics by application, comprising Advanced Driver Assistance Systems (ADAS), Body Electronics Systems, Infotainment Systems, Powertrain Systems, Safety & Security Systems and Other Applications (Fuel Injection, HVAC, Lighting & Tire Pressure Monitoring). The vehicle types where Automotive Electronics are used as analyzed in this report include Commercial Vehicles, Passenger Cars and Two & Three Wheelers, with a further classification analyzing the type of fitting that comprises OEM Fitting and Aftermarket Fitting.

About Industry Experts, Inc
Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts.com/

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