Industry Outlook and Trend Analysis
The Automotive Electronics Market was worth USD 150 billion in the year 2012 and is expected to reach approximately USD 334.80 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 7.49% during the forecast period. The progress towards cutting edge safety frameworks is relied upon to drive the global automotive electronics market throughout the following years. Alcohol ignition interlocks, emergency call systems, and accident data recorder systems are an example of developments where future request is relied upon to stimulate market development. The European Union is anticipated to command various applications within the following couple of years. Driver’s assistance systems and Low-speed collision avoidance systems are expected to be among the prevalent innovations. Coordination of map-enabled systems likewise gives various application alternatives prompting points of interest, for example, intelligent front lighting systems, lane departure systems and driver assistance systems empowered by united versatile front lighting. Security advances additionally incorporate speed alert, map-supported adaptive front lighting, usage data transmission and collision warning. Absence of awareness about the general comprehension of the interplay of subsystems and trouble of OEMs in keeping up and dealing with the procedure with implanted controllers that are produced by tier-1 providers is anticipated to challenge market development.
Application Outlook and Trend Analysis
Major application sections incorporate powertrain, body electronics, safety, infotainment and ADAS. With a specific end goal to control the amount of fatalities coming about because of street mischances, administrative boards of many nations have made strides for consolidating security gadgets in vehicles. A portion of the fundamental gadgets used to guarantee the security of travelers incorporate on/off switches for air packs, backup sensing system, airbags, heads-up display, electrochromatic mirror/auto dimming mirrors, passenger sensing system, head restrictions, padded knee bolster, and energy-absorbing steering system. Providers, for example, Continental AG alongside OEMs are centered on giving cost-effective ADAS to the medium-sized and compact auto sections. The organization presented inexpensive ADAS systems, for example, lane departure warning system, traffic sign recognition and driver monitoring systems. New Car Assessment Program (NCAP) in districts, for example, China and Europe has been ordering Automatic Emergency Braking (AEB) and Lane Departure Warning (LDW) systems for huge scale implementation of dynamic security systems.
Regional Outlook and Trend Analysis
Asia Pacific is relied upon to keep representing most of the worldwide market throughout the following years. The administration in China has advanced C-NCAP's safety evaluations urging purchasers to see a five-star rating as a manual for vehicle's quality. The Department of Transportation in the United States has commanded equipment for safety, for example, a backup camera in every new vehicle, expanding vehicle costs by USD 200 for the new base models. The Department of Transportation additionally keeps up Federal Motor Vehicle Safety Standards and Regulations (FMVSS), which recommend crash-avoidance segments consequently lessening environmental contamination and gas utilization. Developing interest for more intuitive systems, for example, embedded vision systems able to do continuous picture tracking on real-time basis has picked up noticeable quality. There has been an expansion in implementation of green technologies attributable to stringent government controls prompting diminish in modular stages.
Proceeded with invasion of electronics into the greater part of the primary systems in vehicles is relied upon to drive market development. Automakers are anticipated to increase the implementation of savvy electronics which makes their vehicles environment-friendly and safe to drive. Major players in the market are TRW Automotive, Continental AG, Denso, Johnson Controls, Robert Bosch GmbH and Delphi Automotive. The aggressive nature of the business has offered ascend to an accentuation on setting up vital organizations together with channel accomplices. Telematics highlights give chances to tie-ins with insurers including discount offers for clients who drive securely. OEMs, for example, Mercedes are concentrating on gathering vehicle and customer information, which is a bundle of client administrations covering financing, servicing, and vehicle obtaining alongside short-term rentals accessible on various advanced stages.
The global automotive electronics market is segmented as follows:
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2012 and forecast from 2013 to 2022?
What will be the industry market growth from 2013 to 2022?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?