Global Automotive Electronic Device Market Size, Share and Trends Analysis Report, By Vehicle Type (Passenger Cars and Commercial Vehicles), By Application (ADAS, Body Electronics, Infotainment & Communication, Powertrain, and Safety Systems), By Component (Electronic Control Unit, Sensors, Current-Carrying Devices, and Others), and By Sales Channel (OEM and Aftermarket) Forecast Period (2022-2028)

The global automotive electronic device market is anticipated to grow at a CAGR of 7.1 % during the forecast period (2022-2028). The high-tech electrical systems include all the equipment to do everything from fuel monitoring and problem detection. Modern cars have more than 80 machines installed, most of which are used to monitor car safety. Adaptive cruise control is one of an electronic device used for safety as it helps to control the speed of a car in the event of any obstacle nearby. Another is used by the route assistant program which shows the driver cutting the route. The benefits associated with the automotive electronic devices increase safety measures which is expected to propel the growth of the market during the forecast period.

Additionally, the growing requirement in the automotive industry to improve driving experience is expected to accelerate the global automotive electronic device market in the forecast period. Nowadays, cars in modern times are equipped with the most advanced gadgets, entertainment, and the GPS system, and provides information digitally which is expected to driving the global automotive electronic device market.

In addition, the strict regulations by the relevant authorities and the regulatory boards for automotive electrical installations to improve safety also promote faster product use such as knee-mounted bolster, passenger sensor system, airbags, automatic electro-chromatic blurring glasses, and a backup sensor system. In addition, vehicle control systems allow the driver to control some objects while driving without diverting focus and ensuring safety. Other factors that stimulate the market growth are the growing urbanization coupled with increasing disposable income that has increased the demand for luxury cars fitted with electric gadgets during the forecast period.

Some major players in the market include – Bosch Group, Broadcom Inc., Continental AG, Denso Corp., and Hyundai Mobis, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in March 2021, LG Electronics and Luxoft announced their new automotive electronics business Alluto in the U.S., which will focus on the U.S. infotainment market.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Vehicle Type
  • By Application
  • By Component
  • By Sales Channel
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Bosch Group, Broadcom Inc., Continental AG, Denso Corp., and Hyundai Mobis, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Automotive Electronic Device Market Report by Segment

By Vehicle Type

• Passenger Cars
• Commercial Vehicles

By Application

• ADAS
• Body Electronics
• Infotainment & Communication
• Powertrain
• Safety Systems

By Component

• ElectronicControl Unit
• Sensors
• Current-Carrying Devices
• Others

By Sales Channel

• OEM
• Aftermarket

Global Automotive Electronic Device Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa