Transparency Market Research reports that the global automotive electronics market is likely to experience intense competition due to the presence of large number of players operating in the market. Entry of new players in the global market is expected to increase competition in the market
According to Transparency Market Research, the global automotive electronics market is projected to reach $5.04 Billion by the end of 2022. In 2017, the market was valued at $3.53 Billion. During the forecast period between 2017 and 2022, the market is projected to expand at 7.4% CAGR.
- Mid-sized passenger's cars segment is expected to dominate the market in the coming years.
- Europe is projected to lead the global market. In 2017, Europe held largest share in terms of revenue.
- Growing popularity of electric vehicles to drive automotive electronics market.
- Technological advancements such as electrical active suspensions for electric vehicles is also expected to push the applications of power electronics.
- Loss of critical vehicular information may deter market growth.
For more details, browse the research report.
Transparency Market Research