APAC Automotive Electronics Market Description:
Automotive electronics include an electric drive system integrated into the vehicle. High penetration of electric and hybrid vehicles is expected to be an important area of concern for electronic system providers. Technological advances such as EV and active electric suspension in the automotive industry are expected to activate the application space for power electronic systems in the automotive sector. Airbags, electronic fuel injection, infotainment, and ADAS optimize the overall efficiency of the combined system in the main areas where automotive electronic systems are used.
APAC Automotive Electronics Market Overview
The APAC automotive electronics market was valued at US$ xx million in 2019 and is expected to reach US$ xx million in 2026, expanding at a CAGR of around XX%.
APAC Automotive Electronics Market Recent Developments and Trends
In May 2018, Magna International partnered with Renesas Electronics Corporation to accelerate the development and adoption of advanced ADAS, which is driving the market growth.
In 2019, the Chinese government announced subsidies for consumers of electric vehicles, depending on the range of vehicles that will contribute to the thriving automotive market.
In September 2018, the Minister of Road and Highway Transport of India announced that it would order the ADAS system for all cars in 2022 to strengthen road safety in India. To reduce road fatalities and reduce traffic congestion, ADAS must be placed on all types of vehicles.
In October 2018: Broadcom, Inc. announced the expansion of its automotive Ethernet portfolio in and developed innovative PHY, smart camera MCUs and security switches. The new product was developed to improve the solutions of connectivity in the vehicle, ADAS, infotainment and intelligent mobility of the company.
In July 2019, the Government of India selected 11 cities across the country to introduce electric vehicles into the public transportation system that creates opportunities for the automotive electronics market in the region under the FAME scheme (rapid adoption and manufacturing of hybrid vehicles and electrical).
APAC Automotive Electronics Market Drivers
The adoption and integration of advanced safety systems, such as airbags, automatic emergency braking (AEB) and lane change warning (LDW), is expected to stimulate the demand for automotive electronic products in the coming years. The APAC automotive electronics market is driven primarily by the growing demand for premium audio systems combined with advanced driver assistance systems. The shift from technology to advanced security systems is expected to further increase demand in the coming years. With the inclusion of road safety systems and increased demand for advanced vehicles, strict government regulations on fuel emission standards are expected to lead the market. The essential electronic systems used to ensure passenger safety include backup detection systems, airbags, on/off switches for airbags, power absorption steering systems, electrochromic mirrors/mirrors with automatic dimming, headrests, padded headrests, head screens, and passenger detection system.
Features such as emergency call systems, accident data recording systems, and alcohol ignition interlocks are also expected to drive market growth. The growing awareness of several consumers and government initiatives has accelerated the adoption of vehicle safety systems. For example, China and the European Commission have launched a New Car Assessment Program (NCAP) that improves vehicle safety standards, including automatic emergency braking (AEB) and lane change warning (LDW).
APAC Automotive Electronics Market Restraints
The lack of awareness of the benefits of the vehicle safety system and the high costs associated with a few products may hamper the expansion of the automotive electronics market in the APAC.
APAC Automotive Electronics Market Segmentation
By Vehicle Type:
Based on the vehicle type, the APAC Automotive Electronics Market is bifurcated into Passenger Cars and Commercial Vehicles. Among these, the passenger car segment held the prominent share, attributing to the rising population, urbanization, and usage in most western countries. Nevertheless, in the anticipated years, owing to the adoption of ADAS and favorable government policies, the commercial vehicles segment will account for a noteworthy share.
By Sales Channel:
Based on the sales channel, the APAC Automotive Electronics Market is divided as Original Equipment Manufacturers (OEM) and Aftermarket. The sales through the OEM segment are high compared to the aftermarket in 2019, owing to the consumer need for improving the vehicle performance with the aid of new and advanced components, which can be purchased directly from the famous makers.
Based on the applications, the APAC Automotive Electronics Market is segmented into Advanced Driver Assistance System (ADAS), power trains, security systems, entertainment, and body electronics. In 2019, the security system sector registered the largest market share. Also, the actions taken by regulatory committees to avoid accidents are foreseen to accelerate the growth of this segment in the future. Nevertheless, the ADAS and infotainment sectors will be the most lucrative divisions in the coming years.
Asian countries, especially Taiwan, Korea, Malaysia, and Thailand, have contributed significantly to the market growth due to the fast-growing electronic component manufacturing industry. Most product demands in the Asia Pacific are met by China and Japan. However, a limited number of manufacturers offer great investment opportunities for local suppliers to take advantage of local demand so that the rest of the region becomes an attractive place for investors.
Major companies in the market include Sanyo Electric Co., Ltd., Yamaha Corporation, Philips N.V., Bosch, Johnson Controls, TRW, Denso Corporation, Continental AG, Sony Corporation and Delphi Automotive PLC.
The research done takes place in two phases namely-
Secondary Research The first phase of the research process is extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. Extensive secondary research helps in generating hypotheses and identifying critical areas of interest that are investigated through primary research.
Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook, etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Automotive Electronics Market, By Vehicle Type
6.1.1 Passenger Cars
6.1.2 Commercial Vehicles
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Automotive Electronics Market, By Sales Channels
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Automotive Electronics Market, By Application
6.3.1 Advanced Driver Assistance System (ADAS)
6.3.2 Power Trains
6.3.3 Security Systems
6.3.5 Body Electronics
6.3.6 Market Size Estimations & Forecasts (2019-2024)
6.3.7 Y-o-Y Growth Rate Analysis
6.3.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Vehicle Type
7.2.3 By Sales Channels
7.2.4 By Application
7.3.1 By Country
184.108.40.206 Rest of Europe
7.3.2 By Vehicle Type
7.3.3 By Sales Channels
7.3.4 By Application
7.4 Asia Pacific
7.4.1 By Country
220.127.116.11 South Korea
18.104.22.168 South East Asia
22.214.171.124 Australia & NZ
126.96.36.199 Rest of Asia-Pacific
7.4.2 By Vehicle Type
7.4.3 By Sales Channels
7.4.4 By Application
7.5 Latin America
7.5.1 By Country
188.8.131.52 Rest of Latin America
7.5.2 By Vehicle Type
7.5.3 By Sales Channels
7.5.4 By Application
7.6 Middle East and Africa
7.6.1 By Country
184.108.40.206 Middle East
7.6.2 By Vehicle Type
7.6.3 By Sales Channels
7.6.4 By Application
8. Key Player Analysis
8.1 Denso Corporation
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Delphi Technologies
8.3 Continental AG
8.4 Robert Bosch Group
8.5 Johnson Control
8.6 Hitachi Automotive Systems
8.7 Hyundai Mobis
8.8 Samsung Group
8.9 Lear Corporation
8.10 ZF Friedrichshafen AG
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures