Automotive Electronic Devices Market size was valued at US$ 282.08 Bn. in 2022 and the total revenue is expected to grow at 7.30% through 2023 to 2029, reaching nearly US$ 461.93 Bn.
Automotive Electronic Devices Market Overview:
The Automotive Electronic Devices Market study provides an in-depth analysis of the competition, including company profiles and market share data for the major rivals in the international market. The research’s scope covers a complete examination of the Automotive Electronic Devices Market as well as the causes of regional variances in the industry’s growth.
Automotive Electronic Devices Market Scope:
In order to find and gather extracts suitable for this study, this market report extensively consults secondary sources, directories, and databases, including annual reports, press releases, journals, business websites, and other databases.
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Automotive Electronic Devices Market Segmentation:
Based on the Component, the global automotive electronic devices market is segmented into Electronic Control Unit, Sensors, Current Carrying Devices, and Others. The current carrying devices segment held the largest market share of xx% in 2022. Electronics valves, fuses, adapters, and wiring harnesses are all examples of current carrying devices. The huge sales growth of current-carrying devices in the component sector is due to the high cost and vast quantity of electronic components used in vehicles, such as switching devices, fuses, adapters, and shiny. The increased demand for connection, convenience, and security features in transport vehicles and commercial trucks can also be related to the growth of this market.
Based on the Application, the global automotive electronic devices market is segmented into ADAS, Infotainment, Body Electronics, Safety Systems, and Powertrain Electronics. The safety systems segment held the largest market share xx% in the global automotive electronic devices market in 2022. Catalytic converters, driver monitoring systems, keyless ignition mechanisms, electronic brake distribution, electronic stability control, electric power steering, and damping control is an example of safety systems. The safety systems segment is forecasted to rise as customer knowledge of scientific advancements connected to car safety equipment grows.
Based on the Sales Channel, the global automotive electronic devices market is segmented into OEM and Aftermarket sales channel. The OEM segment held the largest market share of xx% in 2022. The major factor that drives the growth of OEM segment in the global automotive electronic devices are electronic equipment have a longer lifespan and are more durable. As electronic equipment is such an important aspect of automobiles, buyers prefer to purchase them from original equipment manufacturers (OEMs). Additionally, as the system design of such electronic components grows, aftermarket electronic equipment is likely to be responsible for a smaller stream of income well over the forecast period.
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Automotive Electronic Devices Market Key Players :
Examining the financial reports of the major market players is a necessary step in the entire process. After determining the size of the overall market, the market was divided into a number of segments and sub-segments, and these divisions were approved by important business leaders like CEOs, VPs, directors, and marketing executives. The following are the major participants in the konjac market:
• Infineon Technologies AG
• STMicroelectronics N.V.
• Texas Instruments
• NXP Semiconductors N.V.
• Continental AG
• NVIDIA Corporation
• Hitachi Ltd.
• Aptiv PLC.
• DENSO Corporation
• Hella GmbH& Co. KGaA
• Visteon Corporation
• Xilinx, Inc.
• ZF Friedrichshafen AG
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Regional Analysis:
The geographical overview of the Automotive Electronic Devices Market report also includes the specific market influencing factors and changes in market legislation that affect current and future market trends. In order to evaluate the full market potential and identify lucrative trends in order to have a more secure footing, current and future trends are studied. Based on the current environment and anticipated trends, the geographic market evaluation is made.
COVID-19 Impact Analysis on Automotive Electronic Devices Market :
End-user industries using Automotive Electronic Devices Market experienced a fall in growth from January to May due to a pause in operations in a number of nations, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. The demand for Automotive Electronic Devices Market manufacturers thus decreased significantly, which had an impact on the Automotive Electronic Devices Market ‘s growth in 2020. This led to a significant decline in the revenues of businesses involved in these industries. Lockdowns and an increase in COVID-19 incidents globally have significantly reduced end-user company demand for Automotive Electronic Devices Market .
Key Questions Answered in the Automotive Electronic Devices Market Report are:
- Which segment had the largest share in the Automotive Electronic Devices Market in 2021?
- What is the competitive landscape of the Automotive Electronic Devices Market ?
- Which are the key drivers aiding the Automotive Electronic Devices Market growth?
- Which region has the maximum share in the Automotive Electronic Devices Market ?
- What will be the CAGR of the Automotive Electronic Devices Market during the forecast period (2022-2027)?
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