What is the Automotive Electronics Market?
Automotive electronics are motor vehicle parts that have or operate with the aid of small components that control and direct an electric current. Examples include engine monitoring and control systems, navigation, in-car entertainment and safety systems. Automotive electronics originated from the need to control engine functions and have expanded to include more and more applications under-the-hood and in the passenger cabin.
How Big is the Automotive Electronics Market?
Market research firm Grand View Research estimates that the global automotive electronics market was $161.55 billion in 2013 and will reach $279.96 billion by 2020, growing at CAGR of 8.2% from 2014 to 2020. Growing demand for advanced driver assistance and safety systems such as emergency call and accident recorder systems are expected to drive much of the expected growth.
How is the Automotive Electronics Market Segmented?
Today, electronic systems are found throughout the vehicle. Automotive electronics manufacturers are broken down into several subsegments including:
- Control systems
- engine electronics such as on-board diagnostics, ignition system control, fuel injection rate control and throttle control
- transmission electronics such as automatic clutching
- chassis electronics such as anti-lock braking systems, traction control systems and electronic stability programs
- Safety systems including air bags, emergency brake assist, hill descent control, emergency call and blind spot detection systems
- Driver assistance systems including lane assist, speed assist, parking assist, automatic wipers, automatic headlamp, navigation and adaptive cruise control systems
- Passenger comfort systems including climate control and seat adjustment systems
- Entertainment systems including audio, video and internet access systems