Global Automotive Body Electronics Market

Infograph - Global Automotive Body Electronics Market

Global Automotive Body Electronics Market is expected to grow at a CAGR of 7.17% over the Forecast Period of 2019– 2025

The Global Automotive Body Electronics Market is expected to grow at a CAGR of 7.17% between 2019 and 2025 in terms of value. An increase in demand for vehicle comfort and increasing production of automotive drives the growth of the automotive body electronics market. In addition, government laws regarding pollution and demand for ADAS equipped vehicles are fuelling the growth of the automotive body electronics market. Presently, functional safety design supports are increasingly used as the OEM’s are looking to optimize seat position, close windows, and roof systems based upon input from vehicle sensors. Furthermore, the demand of the start-stop system in the vehicle that automatically shuts down and restarts the IC engine reduces fuel consumption is also increasing rapidly due to the growing measures for reducing fuel consumption and emissions. However, malfunctioning of the system and economic the slowdown is likely to hamper the growth of the automotive body market. Moreover, the introduction of the new inbuilt technologies in the car features is anticipated to create several growth opportunities for the key players in the automotive body electronics market. On the other hand, leveraging their technological advantages, many information technology companies have crossed over into the auto industry to promote the information and intelligent development of vehicles.

Advances in automotive technology have significantly increased the electronic content of modern automobiles to enhance safety, improve the driving experience, enrich entertainment functions, and diversify the power and energy sources. Since the last few years’, modern vehicle manufacturing companies are focusing on a wide range of systems that provide control functions, safety, and security feature, and manage power. With the advance features such as advanced passive safety, driver assistance, passenger comfort, vehicle security system, infotainment systems, and chassis electronics are expected to spur the demand for automotive electronics in the next few years. Furthermore, with the auto development trends such as lightweight materials, miniaturization, intelligence, and electrification, the auto electronics market is expected to experience rapid growth in the forecast period.

 Among the geographies, Asia Pacific dominated the global automotive body electronics market. The growth in the Asia Pacific region is due to the adoption of advanced technologies in countries such as India, China, Japan, and South Korea. North America is expected to be the second-largest market. Moreover, the U.S. is expected to dominate the North American regional market over the forecast period owing to several automotive manufacturers such as TRW Automotive, Continental Corporation, Robert Bosch GmbH, and Autoliv, Inc., Moreover, the rising demand for miniaturization and surge of IoT technology is fueling the growth of the passenger car sensor market. Strict fuel economy and emission control standards are expected to drive the automotive body electronics market in this region. Furthermore, the presence of European companies such as Infineon Technologies AG, Robert Bosch GmbH and Delphi Automotive PLC are anticipated to drive the demand for automotive body electronics in Europe over the forecast period. On the other hand, countries in South America such as Brazil, Colombia, Brazil, Chile, and Argentina are focusing on new technology vehicles. Additionally, increasing consumption of high-technology vehicles in Middle Eastern countries such as Saudi Arabia, UAE, Qatar, and Kuwait drives the growth of the Middle East automotive body electronics market.