Automotive Electronics Market Estimated to Grow Beyond $290 Billion by 2024

29/mag/2018 13:01:04 susan hill Contatta l'autore

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The global Automotive Electronics Market is expected to be more valued more than USD 290 billion by 2024. Rising premium audio systems and advanced driver assistance systems Accident systems, emergency call systems, and alcohol ignition interlocks are the technologies that are said to boost the growth in the near future. In addition, rising trend of in-vehicle infotainment is also likely to help boost the market. Understanding of the overall subsystems' understanding may hinder the growth. The global automotive electronics market is divided into applications and regions.

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The application sector includes body electronics, the Advanced Driver Assistance System (ADAS), infotainment, safety systems, and powertrain. Cars and other vehicles have taken steps to integrate safety gadgets into cars and other vehicles.

Some of the necessary devices used to ensure passenger safety are backup sensing systems, airbags, on-off switches for air bags, car dimming mirrors or electrochromatic mirrors, head restraints, energy-absorbing steering systems, heads-up displays, passenger sensing systems, and padded knee bolster.

The ADAS application sector is projected to witness high growth during the forecast period (from 2016 to 2024). This is due to the implementation of the most important safety regulations. Demands for in-vehicle data storage, to support in-car features, are estimated to be the major growth drivers for infotainment systems.

Geographically, North America dominated the global automotive electronics market in 2015. However, Asia-Pacific is anticipated to experience . Developing economies including India and China are likely to positively impact the growth of the region.

Robert Bosch GmbH; The major companies operating in the global automotive electronics market; Continental AG; Denso Corp .; Delphi Automotive PLC .; TRW Automotive; Johnson Controls Inc .; and Autoliv AB. The major sustainability and growth strategies used by all of these companies include creating technology partnerships with other companies in the ecosystem. Plus, automakers are anticipated to increase the intelligent electronics adoption that makes their products safe to drive and environment-friendly.

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