The
global automotive electronics market is expected to reach USD 279.96 billion by
2020. Growing demand for advanced driver assistance systems and premium audio
systems are some of factors expected to drive the automotive electronics market
through the forecast period.
Continuous
growth in the number of electronics components used by automotive manufacturers
has spotlighted new opportunities for suppliers. Emergency call systems,
alcohol ignition interlocks and accident recorder systems are various
technologies that are expected to spur market growth through the forecast
period.
High
level of complexity and lack of awareness about the overall understanding of
the subsystems may curb market growth. Various complexities include tolerance
stackup, mechatronic interaction and harsh operating environment.
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In
order to meet the rising complexity issues, OEMs are focusing on product
innovation such as reducing weight, and decreasing number of modular platforms.
Additionally, increasing trend towards in-vehicle infotainment is expected to
yield opportunities for the automotive electronics market.
Further
key findings from the study suggest:
Increased
penetration towards electric vehicles (EV) and hybrid vehicles (HEV) is
expected to increase automotive electronics component demand. This is
attributed to reduced product cost associated with emission controls and
enhanced lithium-ion battery cooling capabilities.
Application
segments include body electronics, powertrain, ADAS, safety and infotainment.
ADAS is expected to exhibit high growth over the next six years. This growth is
attributable to stringent safety regulations leading to the large-scale
adoption of active safety systems in modern cars.
Proliferation
of in-car infotainment systems owing to eco-efficiency, security and comfort
factors is also estimated to positively impact automotive electronics market
growth. Demand for in-car data storage to support sophisticated in-car features
is expected to be the key growth driver for the infotainment systems.
North
America was the largest regional market in 2013. Asia Pacific is expected to
witness high growth due to rising need for reduced production cost, customized
vehicle features, meet stringent standards and increase product quality.
Countries such as China and India are expected to favorably impact regional
market growth.
Notable
companies operating in the market include Continental AG, Bosch, Delphi, Denso,
Autoliv, TRW Automotive and Johnson Controls. Key growth strategies employed
include building technology partnerships with other participants in the
ecosystem.
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