Automotive electronics is a system developed electrically for road vehicles, which plays a vital role in the control of the vehicle's engine. Systems such as engine ignition (sparks, synchronization), fuel injection, music, communication systems, exhaust control, heating/air conditioning, navigation systems, safety systems are a few functions that are electronically controlled in the vehicle. Automotive electronics originated from the transition to advanced security systems. Due to technological advances, automotive electronics is becoming popular and increasingly adopted by consumers.
The revenues of the European Automotive Electronics Market will exceed US$ 500 billion by 2024.
Recent Developments and Trends
In September 2017, Bosch announced a partnership with Nikola Motor Company for the development of powertrain products for commercial vehicles.
In December 2017, Lear Corporation acquired the Israel-based GPS developer EXO Technologies to invest in acquisitions to strengthen its advanced electronic portfolio. The company focuses on expanding its main seating business and integrating intelligent systems within vehicles.
Europe Automotive Electronics Market to exceed US$ 500 billion by 2024, growing at an annual rate of approximately 8.14% over the next five years.
Technological innovations in automotive electronic systems help increase vehicle efficiency and improve user connectivity. Rising automobile production and the need for enhanced protection are likely to drive the demand for these systems in the coming years.
The Europe Automotive Electronics Market is driven primarily by the growing demand for premium audio systems combined with advanced driver assistance systems. The recent movement of the automotive industry towards a policy that offers luxury and comfort is a crucial factor in revitalizing the automotive electronics market. Manufacturers in this market are integrating superior digital microchip processors and chips into today's audio systems. As the demand for audio systems technologies increases, such as hands-free communication systems with Bluetooth, station guidance systems, energy-efficient systems, vehicle noise compensation and touchscreen navigation systems, Europe Automotive Electronics Market continues to excite market participants and new entrants.
In addition, the introduction of new technologies, such as emergency call systems, increased interest in vehicle safety, alcohol ignition interlocks and accident recording systems, will drive this market growth over the estimated period. The constant use of various electronic components of car manufacturers has created new business opportunities for suppliers. High consumer purchasing power and lifestyle changes are expected to support the automotive electronics market in the near future.
However, the growing trend of information and entertainment in vehicles will set new horizons for growth soon, which may limit the expansion of the automotive electronics market.
By Vehicle Type:
Based on the vehicle type, Europe Automotive Electronics Market is divided into Passenger Cars and Commercial Vehicles. Of these, the passenger cars segment accounts for the prominent share, owing to the rising population, urbanization and usage in most of the western countries. However, in the foreseen years, with the adoption of ADAS and favorable government laws, the commercial vehicles segment will contribute a considerable share to overall business development.
By Sales Channel:
Based on the sales channel, Europe Automotive Electronics Market is separated as Original Equipment Manufacturers (OEM) and Aftermarket. The sales in the OEM segment are relatively high compared to the aftermarket sales in 2018, attributing to the consumer concern to improve the performance of cars with the addition of new and advanced components that are purchased directly from the renowned manufacturers.
Based on the applications, the European Automotive Electronics Market is divided into Advanced Driver Assistance System (ADAS), power trains, security systems, entertainment and body electronics. In 2018, the security system sector occupied the largest market share. The actions taken by regulatory committees in several countries to prevent accidents are expected to accelerate the growth of the segment. Nonetheless, the ADAS and infotainment sectors will be the most attractive in the coming years.
In the European automotive electronics market, information and entertainment applications are in high demand due to their implementation in luxury and passenger cars. With a focus on providing the luxury and comfort features offered by leading car manufacturers in European countries such as Germany and Italy, the prospects for industrial development are even more significant. Strict European regulatory frameworks related to vehicle safety and road safety are creating some growth opportunities for the automotive electronics market in this area.
Popular companies in this market include Delphi Technologies, Continental AG, Bosch Group, Hyundai Mobis, Johnson Control, ZF Friedrichshafen AG, Hitachi Automotive Systems, Denso Corporation, Autoliv, Inc., Samsung Group, and Lear Corporation.
The research done takes place in two phases namely-
Secondary Research The first phase of the research process is an extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. An extensive secondary research helps in generating hypothesis 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
126.96.36.199 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
188.8.131.52 South Korea
184.108.40.206 South East Asia
220.127.116.11 Australia & NZ
18.104.22.168 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
22.214.171.124 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
126.96.36.199 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