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