Automotive Electronics Market Will Grow at a Healthy 10% Value CAGR Through 2029

The global automotive electronics market will grow more than two-fold during the forecast period (2019-2029)

ROCKVILLE, MARYLAND, UNITED STATES, December 2, 2021 /EINPresswire.com/ -- The global automotive electronics market size will more than double between 2019 and 2029. The sensor segment of automotive electronic components will grow at a double-digit CAGR of 10% through 2029.

For OEM Automotive Electronics market analysis, the team tracks the vehicle production across the prominent countries/regions and then cross map the same with the average usage of the product in a type of vehicle (passenger car, light commercial vehicle, heavy commercial vehicle, and two wheeler). For aftermarket, the team tracks the vehicle parc (vehicle-on-road) for prominent countries/regions and cross map the same with the replacement rate of the product in a given year for each vehicle type.

The Market survey of Automotive Electronics offers a comprehensive analysis of diverse features, including production capacities analysis of Automotive Electronics, demand, product developments, revenue generation, and Size of Automotive Electronics Market across the globe.

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Global Automotive Electronics Market: In-Depth Assessment on Key Segments

The global automotive electronics market is segmented on the basis of component, application, sales channel and region.

Component


Electronic Control Unit
Sensors
Current Carrying Devices
Others


Application


ADAS
Infotainment
Body Electronics
Safety Systems
Powertrain Electronics


Sales Chanel


OEM
Aftermarket


Region


North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa

Key stakeholders in Market including industry players, policymakers, and investors in various countries have been continuously realigning their strategies and approaches to implement them in order to tap into new opportunities.

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The secondary research includes Automotive Electronics market data and information presentations by researchers, institutions, company annual reports, investor presentations, annual filings, scholarly journals, white papers, research documents, trade journals, and other sources such as International Organization of Motor Vehicle Manufacturers (OICA), Society of Indian Automobile Manufacturers (SIAM), Japan Automobile Manufacturers Association, Inc. (JAMA), ASEAN Automotive Federation (AAF), Korea Automobile Manufacturers Association (KAMA), European Automobile Manufacturers Association (ACEA), The Society of Motor Manufacturers and Traders Ltd (SMMT), , The World Bank, International Monetary Fund (IMF), and MarkLines among others.

Some Notable Offerings by Fact.MR Report on Automotive Electronics market:


We will provide you an analysis of the extent to which this Automotive Electronics market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
Also, this report will help you to identify any trends to forecast growth rates.
The analyzed report will forecast the general tendency for supply and demand.

Advanced Technologies to Pave Way for Future Growth Prospects

Increasingly stringent safety norms are driving innovation and development of sensor technology and signal processing algorithms. These are increasing the demand for automotive electronics.

Technological advancements such as adaptive cruise control (ACC), parking assistance, and blind-spot detection are attracting and engaging consumers.
 

Key Takeaways of Automotive Electronics Market Study
East Asia and South Asia & Oceania collectively account for 43% share of the total market value. Booming automotive sales in developing countries coupled with prevalence of electric vehicles is driving the demand for automotive electronics from these regions.
North America offers gainful opportunities with a stellar 9% CAGR during the forecast. Presence of major manufacturers in countries such as the US are accelerating the demand for automotive electronic products in this region.
Current carrying devices will grow two-fold on the back of surging penetration of electric vehicles as a new energy alternative.
Safety systems will expand to more than twice their current size owing to rising concerns of road safety among millennial consumers.
Aftermarket sales of smart electronic devices will grow the aftermarket segment 3X through 2029. Favorable consumer trends such as customization of light and medium duty vehicles are a central force behind the growth of this segment.

 

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After reading the Market insights of Automotive Electronics Report, readers can:


Understand the drivers, restraints, opportunities and trends affecting the Sales of market.
Analyze key regions holding significant share of total Automotive Electronics market revenue.
Study the growth outlook of Automotive Electronics market scenario, including production, consumption, history and forecast.
Learn consumption pattern and impact of each end use & supply side analysis of Automotive Electronics market.
Investigate the recent R&D projects performed by each market player & competitive analysis of Automotive Electronics Market Players.

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How Fact.MR Assists in Making Strategic Moves For Automotive Electronics Market Manufacturer?

 
The data provided in the Automotive Electronics market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.




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