The global automotive electronics market is expected to reach USD 279.96 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand for advanced driver assistance systems and premium audio systems are some of factors expected to drive the automotive electronics market through the forecast period. Continuous growth in the number of electronics components used by automotive manufacturers has spotlighted new opportunities for suppliers. Emergency call systems, alcohol ignition interlocks and accident recorder systems are various technologies that are expected to spur market growth through the forecast period.
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High level of complexity and lack of awareness about the overall understanding of the subsystems may curb market growth. Various complexities include tolerance stackup, mechatronic interaction and harsh operating environment. In order to meet the rising complexity issues, OEMs are focusing on product innovation such as reducing weight, and decreasing number of modular platforms. Additionally, increasing trend towards in-vehicle infotainment is expected to yield opportunities for the automotive electronics market.
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Further key findings from the study suggest:
• Increased penetration towards electric vehicles (EV) and hybrid vehicles (HEV) is expected to increase automotive electronics component demand. This is attributed to reduced product cost associated with emission controls and enhanced lithium-ion battery cooling capabilities.
• Application segments include body electronics, powertrain, ADAS, safety and infotainment. ADAS is expected to exhibit high growth over the next six years. This growth is attributable to...