Allied Market Research published a report, titled, "Automotive Electronics Market by Vehicle Type (Passenger Car, LCV and HCV), Component (Sensors, Actuators, Processors, Microcontrollers, and Other), Application (ADAS, Infotainment, Body Electronics, Safety System, Power Train and Others), and Distribution Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global automotive electronics market accounted for $228.34 billion in 2019, and is estimated to reach $382.16 billion by 2026, growing at a CAGR of 7.3% from 2019 to 2026.

The report provides a comprehensive analysis of the major market players such as ABB Ltd., AMETEK Inc., Emerson Electric Co., Endress+Hauser Management AG, Honeywell International Inc., Siemens AG, Taiwan Semiconductor Manufacturing Company Limited, TE Connectivity, Texas Instruments, and Vega Grieshaber Kg. Key players operating in the global automotive electronics market are Robert Bosch, Renesas Electronics Corporation, Infineon Technologies AG, STMicroelectronics N.V., Texas Instruments, NXP Semiconductors N.V., Continental AG, NVIDIA Corporation, Hitachi Ltd., and Aptiv PLC.

The companies follow various market strategies such as product launch, product development, collaboration, partnership, and others that leads to the market growth. Nvidia launched a simulator that leverages cloud computing power to test autonomous vehicles. The software can simulate glare at sunset, snowstorms, poor road surfaces, and dangerous situations to test the vehicle's ability to react.

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Prime determinants of growth

Adoption of IoT and AI in the automobiles, increase in demand for in-vehicle safety feature, and surge in vehicles equipped with automated driving propel the growth of the global automotive electronics market. However, low adoption of automotive electronics in newly industrialized countries and rise in cost of automobile with more automated features restrain the market growth. On the other hand, investment toward autonomous driving of vehicles in smart grids provides new opportunities to the industry.

Europe to maintain its lead status in terms of revenue by 2026, North America to grow at a moderate pace-

Based on region, Europe accounted for the highest market share in 2019, accounting for nearly one-third of the global automotive electronics market, and is expected to maintain its lead status in terms of revenue by 2026. This is due to the presence of leading market players in the region. However, LAMEA is estimated to portray the largest CAGR of 10.0% from 2019 to 2026. The rapid adoption of autonomous vehicle controls in this province, leads the growth of the market in this region. On the other hand, North America estimated to manifest a CAGR of 4.90% in between 2019 to 2026.

Key Benefits for Stakeholders:

  • This report provides an extensive analysis of the current and emerging market trends and dynamics in the global automotive electronics market. 
  • In-depth automotive electronics market analysis is conducted by semiconductor and electronics market estimations for the key market segments between 2019 and 2026. 
  • Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
  • Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the global automotive electronics market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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