What is the global market size of Automotive Electronics Market?

Automotive industry refers to all businesses and initiatives concerned with the production of motor vehicles, including the majority of its parts, such as their bodywork and engines, but excluding their tyres, batteries, and gasoline. Passenger cars and light trucks, including pickups, vans, and sport utility vehicles, are the main products of the sector. Despite being crucial to the business, commercial vehicles (such as delivery trucks and huge transport trucks, sometimes known as semis), are only second. The articles automobile, truck, bus, and motorbike cover the design of contemporary automobiles, while the articles gasoline engine and diesel engine describe automobile engines. Transportation, History of: The Rise of the Vehicle discusses the development of the automobile.

Automotive Electronics Market Updates

Automotive Electronics Market News

ZF Friedrichshafen AG made public the Smart Camera 6, a leading-edge camera for safety and autonomous driving, in January 2023. The main objective of the Smart Camera 6 is to meet the demand for interior monitoring systems and 3D surround view, which is aided by image processing module systems.
Xilinx, Inc. entered partnership with Motovis, a leading provider of embedded AI autonomous driving in January 2023. This integration aims to deliver an integrated solution, which utilizes Zynq SoC with CNN IP provided by Motovis in vehicle control and perception by the forward camera system in the automotive industry. Its purpose is to enrich its customers with high-powered platforms and fast development.
Hitachi Automotive Systems, Ltd. unveiled a multi-camera 3D sensing prototype and 360-degree stereo vision system for driverless cars on the road in October 2022. The prototype is part of an in-car camera system that fits into one system, providing great resolution, cost-effectiveness, and accuracy.

FAQs

Automotive Electronics Market size was valued at USD 244.9 Billion in 2023 and is poised to grow from USD 265.96 Billion in 2024 to USD 508.47 Billion by 2032, growing at a CAGR of 8.6% during the forecast period (2025-2032).

Global Automotive Electronics market is relatively fragmented, with a high level of competition. Companies use a variety of market strategies, including new launches, product development, teamwork, partnerships, and others, to expand their markets. In order to test driverless vehicles, Nvidia released a simulator that uses cloud computing resources. To test the vehicle's response time, the programme can simulate sunset sunlight, snowstorms, risky circumstances, and poor transportation conditions. 'Robert Bosch GmbH ', 'Continental AG ', 'Denso Corporation ', 'Aptiv PLC ', 'ZF Friedrichshafen AG ', 'Hyundai Mobis ', 'Magna International Inc. ', 'Autoliv Inc. ', 'Panasonic Corporation ', 'Sony Corporation ', 'Infineon Technologies AG ', 'NXP Semiconductors ', 'Texas Instruments Inc. ', 'Valeo SA ', 'Harman International Industries, Inc. ', 'HELLA GmbH & Co. KGaA ', 'Mitsubishi Electric Corporation ', 'Hitachi Automotive Systems, Ltd. ', 'Visteon Corporation ', 'Lear Corporation'

The automotive electronics industry is anticipated to be driven by rising demand for cutting-edge vehicles and growing acceptance of safety systems to reduce traffic fatalities. The market will also be driven by stringent government requirements on fuel emission standards. In addition, over the coming few years, the switch to more advanced safety systems is anticipated to support market growth globally. Alcohol ignition interlocks, emergency call systems, and accident data recorder systems are a few of these cutting-edge safety technologies.

Technology advancements in the automotive electronics industry are a key trend. The market is expanding as a result of the advent of driverless or autonomous automobiles that give users a self-driving experience and the release of affordable electric vehicles with improved features. The need for automotive electronics is also being increased by a move toward hybrid and premium automobiles outfitted with in-car entertainment systems that provide a more sophisticated and engaging user experience. In addition, the use of advanced computing technologies to prevent accidents and fatalities, such as parking assistance, electrical suspensions, braking, and steering systems, is sharply rising demand for them among manufacturers and consumers.

Asia Pacific held the largest share of the Automotive Electronics market. It is predicted to maintain its lead throughout the forecast period with a CAGR higher than 8.3%. Due to the growing electronic component manufacturing operations, nations including Taiwan, South Korea, Malaysia, and Thailand have considerably contributed to the market expansion. China and Japan supply the majority of the automotive electronics needed in the Asia Pacific region. However, the small number of automotive electronics producers presents a fantastic business opportunity for regional suppliers to take advantage of the domestic demand, making the rest of Asia Pacific a desirable location for investments.