The automotive electronics market size is expected to reach USD 144.19 billion by 2026, exhibiting a CAGR of 6.1% during the forecast period. The growing technological advancement in automotive for enhanced safety, entertainment and comfort features will contribute positively to the automotive electronics market growth during The forecast period. Moreover, the integration of Internet of Things (IoT), artificial intelligence, and cloud computing in automobiles will spur opportunities for the automotive electronics revenue in the forthcoming years, mentioned in a report, titled “Automotive Electronics Market Size, Share” & Industry Analysis, By Application Type (Advanced Driver Assistance System [ADAS], Body Electronics, Power Electronics, and Infotainment), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle,and Electric Vehicle) and Regional Forecasts, 2019-2026 ”the market size stood at USD 91.06 billion in 2018.

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The Report Lists the Main Companies in the Automotive Electronics Market:

Continental AG
Robert Bosch GmbH
SONY Corporation
Aptiv PLC
Hyundai Mobis
ZF Friedrichshafen AG
Autoliv Inc.
Magna International Inc.
Aisin Seiki Co. Ltd
Philips NV
Infineon Technologies AG
Rising Adoption of Electric Vehicles to Boost Market Growth

The shift from conventional cars to electric vehicles will subsequently aid the development of the market. The preference towards electric vehicles owing to its capabilities such as high battery life, energy-efficient, advanced electronic systems, zero direct carbon emission. The companies operating in the The growing government regulations to curb carbon emissions will positively promote the automotive electronics market share. Also, the consumer approach towards electric vehicles equipped with parking assistance, head-up display, and powerful infotainment system will bolster the healthy growth of the market during the forecast period.

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High-Price of Electronic Systems to Diminish Business Potential

The high production cost of electric vehicles will simultaneously escalate the overall cost of hybrid cars, which, in turn, will hamper the growth of the market during the forecast period. The rising popularity of electric vehicles (EV) has led to the development of advanced driver assistance systems (ADAS) and infotainment systems. The massive investment in R & D activities by companies along with the high cost of lithium-ion batteries and software used in vehicles will grow surge the manufacturing cost, thus, leading to costly EVs. Besides, the complexities of electric vehicles and high maintenance and replacement cost will dampen the automotive electronics market trends.

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