OTTAWA – The global automotive electronics market will reach hit around $640.6 billion by 2030, growing at a 10-year compound average rate of 7.64%, according to new study by Precedence Research. Automotive electronics sales comprised nearly $256 billion in 2020, the market researchers said, boosted by demand for electric vehicles and their high electronics content.

Automotive electronics include ignition, engine management, radio, carputers, in-car entertainment systems, and telematics. Automotive electronics technologies like all-electric cars, autonomous driving, and in-car infotainment are trending. Automotive electronics occupy nearly a third of the total price of a car, the research firm says.

The future of cars is about sharing, autonomous driving, electric power, and links to external networks; automotive electronics will be leveraged for all four segments, says the firm. Rising safety features like emergency call systems, alcohol ignition interlocks, and calamity data recorder systems are anticipated to boost growth.

However, on account of Covid-19, most nations obeyed lockdowns that impacted vehicle production, and manufacturing units have been closed. Thus, sales of vehicles have dropped and impacted production on a global level, says Precedence Research. Few OEMs have restarted production. The wire market may have a noteworthy decline in 2020. Covid-19 disturbed ICE vehicle production, but numerous automakers are still concentrating on expanding wire systems.

Advanced driver-assistance systems, or the ADAS application segment, is predicted to grow at the fastest rate during the years to come due to numerous steps undertaken by the governments to augment the security and safety of drivers.

Automotive electronics revenue is expected to flourish in Asia Pacific. Furthermore, increasing automotive aftermarket is anticipated to subsidize revenue development of the automotive electronics market in APAC. China occupies over 28% of global motor production. It was the frontrunner in passenger car sales and production, with 23.7 million and 23.5 million, respectively, in 2018.

In the past few years, automotive electronics was dominated by Bosch and Continental, along with ZF Friedrichshafen, Delphi, TRW and Denso.

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