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Global Automotive Electronics Market Size, Share, Growth: By Component: Sensors, Actuators, Processors, Microcontrollers, Others; By Propulsion: ICE, Electric; By Vehicle Type: Two-Wheeler, Passenger Car, Others; By Application; By Distribution Channel; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Automotive Electronics Market Outlook
The global automotive electronics market size reached approximately USD 247.67 billion in 2023. The market is projected to grow at a CAGR of 6.5% between 2024 and 2032, reaching a value of around USD 436.72 billion by 2032.
Key Takeaways
- ADAS, an automotive electronics system, can prevent 20,841 deaths in the USA annually.
- Bosch, ON Semi, and Infineon are among the leading manufacturers of automotive sensors globally.
- Automotive sensors are expected to lead the automotive electronics market in the forecast period.
Automotive electronics refers to a wide range of electronic systems that are specifically designed for usage in automobiles. Telematics, ignition, carputers, and engine management systems are some of the key electronic systems that are integrated into automobiles. Their objective is to improve the driving experience, ensure driver safety, and achieve a high degree of fuel efficiency.
The major automotive electronics market drivers include increased consumer concerns surrounding safety, a rise in the adoption of electric vehicles, and innovations in powertrain electronics systems. Advanced automotive electronics solutions are enhancing the safety standards of passenger and commercial vehicles and improving their fuel efficiency. Their design and style are being integrated with electric vehicle technology to make smart and sustainable urban transportation solutions.
Key Trends and Developments
Increased usage of ADAS in automotives; rising adoption of EVs; advancements in the development of autonomous vehicles; and growth of modern infotainment systems are the major trends impacting the market growth.
| Date | Company | News |
| Feb. 2nd 2024 | Infineon Technologies AG and Honda Motor Co., Ltd. | Signed a memorandum of understanding to create a strategic partnership focusing on automotive semiconductor solutions. |
| Jan. 31st 2024 | KIOXIA | Unveiled UFS Ver. 4.0 embedded flash memory devices to enable automobile companies to create better user experiences for their consumers. |
| Jan. 23rd 2024 | Vector Motors Corporation | Introduced a new embedded software to enable the development of safety systems in automobiles. |
| Jan 16th 2024 | Uno Minda | Launched the Car DVR with Advanced Driver Assistance System (ADAS), featuring a 170° lens angle, 720P full HD resolution, and seamless connectivity to Android screens in the Indian aftermarket. |
| Trend | Explanation |
| Increased usage of ADAS in automobiles | Modern vehicles are being equipped with advanced driver assistance systems to improve passenger and driver safety, comply with safety regulations, and facilitate autonomous driving. |
| Rising adoption of electric vehicles | With the rising adoption of electric vehicles and hybrid electric vehicles, advanced power electronics that can improve charging efficiency, minimise power loss, and improve thermal management are increasingly used. |
| Advancements in the development of autonomous vehicles | Autonomous vehicles require advanced sensors and tools to detect obstacles, plan travel routes, and manage battery levels, which is leading to the global automotive electronics market development. |
| Growth of modern infotainment and communication systems in vehicles | With ADAS ensuring safe passenger journeys, automotive companies are shifting towards designing innovative infotainment/ communication systems within vehicles. |
Global Automotive Electronics Market Trends
In January 2024, Valeo and Teledyne FLIR received a contract from a major automotive equipment manufacturer to provide thermal imaging cameras to boost road safety. These cameras can be integrated into the night vision system of advanced driver assistance systems of vehicles to ensure the safety of four-wheelers on the road.
There is a growing trend of miniaturisation as it makes space for the installation of better automotive components and reduces the time taken for electric currents to travel from one point to another. This provides greater freedom for introducing innovative vehicle design, and reduces signal processing speed within vehicles, prompting them to take urgent actions in case of an emergency situation. Further innovations in the field of miniaturisation are likely to lead to the automotive electronics market growth in the forecast period.
Market Segmentation
“Global Automotive Electronics Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
| Market Breakup | Categories |
| Component | Sensors, Actuators, Processors, Microcontrollers, Others |
| Propulsion | ICE, Electric |
| Vehicle Type | Two-Wheeler, Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle |
| Application | ADAS, Infotainment, Body Electronics, Safety System, Powertrain Electronics |
| Distribution Channel | OEM, Aftermarket |
| Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Sensors are expected to dominate the automotive electronics market share in the coming years
With the evolution of autonomous vehicle technology, a surge in demand for automotive sensors is expected to drive the market growth. Cameras, radars, and LiDARs help modern four-wheelers in detecting obstacles through AI processing, high-resolution imaging, and tracking pulse travel time. This ensures that vehicle driving becomes a simpler experience and safety of the driver and passenger is not compromised.
Processors and microcontrollers are also expected to witness a growth in demand as automotive manufacturers improve the features of their infotainment and communication systems and integrate the ADAS technology into their latest models. A similar trend is expected to emerge for actuators and other automotive electronic components, which can drive the automotive electronics market expansion.
Aftermarket is expected to emerge as a leading distribution channel for automotive electronics
Though original equipment manufacturers design and sell premium automotive electronics solutions, aftermarket is expected to constitute a major part of the automotive electronics market share in the forecast period.
Aftermarket providers offer a wide range of models for automotive electronics products, which can cater to the requirements of several automobile companies. However, the demand for OEMs is also expected to remain significant, as established automotive companies utilise customised automotive electronics parts for their vehicles, which improve the driving experience and passenger comfort.
Competitive Landscape
Companies are collaborating with each other to boost innovation and provide improved offerings in the global automotive electronics market.
| Company Name | Incorporation Year | Location | Business Description |
| Hella GmbH & Co. KGAA | 1899 | Lippstadt, Germany | Manufacturing electronic components and lighting systems for the automobile industry |
| Continental AG | 1871 | Hannover, Germany | Providing mobility solutions for the automobile sector |
| Denso Corporation | 1949 | Aichi, Japan | Supplying automotive components, electrification and thermal systems for cars, industrial equipments, and consumer electronics |
| Sony Group Corporation | 1946 | Tokyo, Japan | Manufacturing electronic products, video game consoles, and sensing and imaging solutions, among others |
Other key automotive electronics market players include Robert Bosch GmbH, ZF Friedrichshafen AG, Hitachi Ltd., Magna International Inc., Valeo SE, Infineon Technologies AG, and Visteon Corporation, among others.
Automotive Electronics Market Analysis by Region
North America is expected to lead the market over the forecast period. This is due to rapid technological advancements in the domain of autonomous vehicles and advanced driver assistance systems.
Europe is expected to emerge as another important region in the automotive electronics market, as the rate of adoption of electric vehicles gains momentum and companies introduce innovative infotainment and safety systems within their vehicles. This trend can also be observed in the Asia Pacific region.
With better government support and the creation of a conducive business environment, the Middle East and Africa and Latin America are also expected to witness a strong surge in demand for automotive electronics in the coming years.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Propulsion |
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| Breakup by Vehicle Type |
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Automotive Electronics Market Analysis
8.1 Key Industry Highlights
8.2 Global Automotive Electronics Historical Market (2018-2023)
8.3 Global Automotive Electronics Market Forecast (2024-2032)
8.4 Global Automotive Electronics Market by Component
8.4.1 Sensors
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Actuators
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Processors
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Microcontrollers
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Automotive Electronics Market by Propulsion
8.5.1 ICE
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Electric
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Automotive Electronics Market by Vehicle Type
8.6.1 Two-Wheeler
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Passenger Car
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Light Commercial Vehicle
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Heavy Commercial Vehicle
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.7 Global Automotive Electronics Market by Application
8.7.1 ADAS
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Infotainment
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Body Electronics
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Safety System
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Powertrain Electronics
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.8 Global Automotive Electronics Market by Distribution Channel
8.8.1 OEM
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Aftermarket
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.9 Global Automotive Electronics Market by Region
8.9.1 North America
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Europe
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 Asia Pacific
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Latin America
8.9.4.1 Historical Trend (2018-2023)
8.9.4.2 Forecast Trend (2024-2032)
8.9.5 Middle East and Africa
8.9.5.1 Historical Trend (2018-2023)
8.9.5.2 Forecast Trend (2024-2032)
9 North America Automotive Electronics Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Automotive Electronics Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Automotive Electronics Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Automotive Electronics Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Automotive Electronics Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Hella GmbH & Co. KGAA
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Continental AG
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Robert Bosch GmbH
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Denso Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 ZF Friedrichshafen AG
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Hitachi Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Magna International Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Sony Group Corporation
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Valeo SE
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Infineon Technologies AG
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Visteon Corporation
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Automotive Electronics Market: Key Industry Highlights, 2018 and 2032
2. Global Automotive Electronics Historical Market: Breakup by Component (USD Billion), 2018-2023
3. Global Automotive Electronics Market Forecast: Breakup by Component (USD Billion), 2024-2032
4. Global Automotive Electronics Historical Market: Breakup by Propulsion (USD Billion), 2018-2023
5. Global Automotive Electronics Market Forecast: Breakup by Propulsion (USD Billion), 2024-2032
6. Global Automotive Electronics Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
7. Global Automotive Electronics Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
8. Global Automotive Electronics Historical Market: Breakup by Application (USD Billion), 2018-2023
9. Global Automotive Electronics Market Forecast: Breakup by Application (USD Billion), 2024-2032
10. Global Automotive Electronics Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
11. Global Automotive Electronics Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
12. Global Automotive Electronics Historical Market: Breakup by Region (USD Billion), 2018-2023
13. Global Automotive Electronics Market Forecast: Breakup by Region (USD Billion), 2024-2032
14. North America Automotive Electronics Historical Market: Breakup by Country (USD Billion), 2018-2023
15. North America Automotive Electronics Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Europe Automotive Electronics Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Europe Automotive Electronics Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Asia Pacific Automotive Electronics Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Asia Pacific Automotive Electronics Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Latin America Automotive Electronics Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Latin America Automotive Electronics Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Middle East and Africa Automotive Electronics Historical Market: Breakup by Country (USD Billion), 2018-2023
23. Middle East and Africa Automotive Electronics Market Forecast: Breakup by Country (USD Billion), 2024-2032
24. Global Automotive Electronics Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 247.67 billion.
The market is estimated to grow at a CAGR of 6.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 436.72 billion by 2032.
The market is being driven by the increased consumer concerns surrounding safety, rise in adoption of electric vehicles, and innovations in powertrain electronics systems.
The key trends aiding the market expansion include increased usage of ADAS in automobiles, miniaturisation of automotive electronics components, advancements in development of autonomous vehicles, and growth of modern infotainment systems.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major automotive electronics components include sensors, actuators, processors, and microcontrollers, among others.
The major players in the market are Hella GmbH & Co. KGAA, Continental AG, Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, Hitachi Ltd., Magna International Inc., Sony Group Corporation, Valeo SE, Infineon Technologies AG, and Visteon Corporation, among others.
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