Automotive Electronics Market size is likely to account for USD 493.69 billion in 2027, as per a new report by Million Insights. It is predicted that the market would register 9.0% CAGR from 2020 to 2027. Increasing sales of hybrid and electric vehicles are proliferating the growth of the market. In addition, integration of advanced systems such as ABS, sensors, airbags and others is supplementing the market growth for automotive electronics.
In addition, governments across the globe are focusing on implementing ADAS systems to ensure road safety. The integration of warning systems for lane departure and automatic emergency braking has been mandated in Europe, U.S and China. Such regulations have led to the installation of various electronics components in the production stage of the vehicles.
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The key driving factors responsible for the growth of Automotive Electronics market :
North America and Europe are witnessing significant growth for in-vehicle infotainment systems, which, in turn, is likely to supplement the market growth. However, Asia Pacific accounted for the largest share in the market in 2019. This is large because of increasing vehicle sales in China and Japan. India, on the other hand, is showing promising growth as well.
Key players in the market are Panasonic Corporation,Aptiv PLC,Continental AG, Intel Corporation, ZF Friedrichshafen AG, and Broadcom Ltd among others. These companies are focusing on expanding their market presence in emerging countries. New product development and partnerships are some of the major strategic initiatives adopted by these companies.
Further key findings from the report suggest:
- By components, the current-carrying division accounted for the highest share in the automotive electronics marketin 2019, owing to the growing focus on safety features.
- The safety category is likely to account for the highest share in the market throughout the forecast duration.
- In 2019, OEMs held the highest share in the market as most of the electronic components are integrated during the manufacturing process itself.
- Asia Pacific is projected to witness over 9% CAGR from 2020 to 2027 owing to rising vehicle demand from India and China.
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Automotive Aftermarket size is projected to touch USD 86.2 billion by the year 2025, according to a new report by Million Insights.
Automotive Aftermarket: Increasing disposable income of consumers in the U.S. is positively impacting the sales outlook of passenger cars.
As a result of which, there would be rise in demand for products like tires, wheels, towing and several other miscellaneous accessories, thus driving the growth of the market in the coming years.
Efforts are taken by manufacturers to make these aftermarket products available in required quantities and improving quality of recycled products are driving the demand for alternate parts like engines, transmissions, door assemblies, metal sheet products like light assemblies, fenders, hoods, trunk lids, and bumpers.
Additionally, controlling and maintaining a large inventory along with wide distribution network is allowing them to retain high fulfillment rates, which also drives the sales of alternative parts.
However, rising adoption of electric and hybrid vehicles is having a negative impact on the market, mainly on exhaust components.
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Browse the complete DBC Ceramic Substrate market Report and TOC @ https://www.decisiondatabases.com/ip/40723-dbc-ceramic-substrate-market-analysis-report The key manufacturers covered in this report: Rogers/CuramikNGK Electronics DevicesKCCHeraeus ElectronicsTong HsingFerrotec (Shanghai Shenhe)Nanjing ZhongjiangRemtecZibo Linzi YinheStellar Industries CorpIXYS Corporation Segmentation by product type: AlN DBC Ceramic SubstrateAl2O3 DBC Ceramic Substrate Segmentation by application: Power ElectronicsAutomotive ElectronicsHome Appliances and CPVAerospace and Others This report also splits the market by region: AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapan…….
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The key players in the piezoelectric buzzer component market include Ariose, Cui Inc., Db Products Limited, Hitpoint, Huayu Electronics, Hunston Electronics, Kepo Electronics, Kingstate Electronics, Kingwei Electronic Co., LTD, Murata, Soberton, Sonitron and TDK.
