Automotive Body Electronics Market 2022 Trends, Business Opportunities, Future Demand and Forecast

The global automotive body electronics market size is expected to grow from USD 53.1 billion in 2020 to USD 80.1 billion by 2027, at a CAGR of 7.1% from 2021 to 2027. Automotive body electronics consist of a system that provides a control function to implement the diagnostics and safety feature and manage power. They offer power switching & monitoring circuits, sensors, and sensor interface and communication ICs for automobile body electronics. In the past generations of automobiles, there have been significant advancements in vehicle traction systems and other systems that provide vehicle, road, and entertainment information to drivers and passengers. Moreover, drivers are looking for new levels of comfort, efficient consumer features, and safety in their vehicles. The central body control system manages all of the vehicle’s power management, safety, and diagnostic systems. Body electronic systems hold a wide variety of applications, addressing everything from driver and passenger comfort and security to high-performance computing and in-vehicle networking.

The global automotive body electronics market is defined by Components, Body Features, and Application. The component segment includes MCU, ICs, Sensors, Dc-Dc converters. Further, the Body Features segment includes windows and door modules, seating modules, roof module control, light control, auto HVAC, wiper and mirror module, and remote keyless entry. The Application segment includes passive safety, driver assistance, passenger comfort, vehicle security system, infotainment systems, and chassis electronics.

Get PDF for more Professional and Technical insights: https://www.marketstatsville.com/request-sample/automotive-body-electronics-market

Advancements in automotive technology have significantly increased the electronic content of modern automobiles to enhance safety, improve the driving experience, enrich entertainment functions, and diversify the power and energy sources. Since the last few years, modern vehicle manufacturing companies have focused on a wide range of systems that provide control functions, safety, security features, and power management. Advanced features such as advanced passive safety, driver assistance, passenger comfort, vehicle security system, infotainment systems, and chassis electronics are expected to spur the demand for automotive electronics in the next few years. Furthermore, with the auto development trends such as lightweight materials, miniaturization, intelligence, and electrification, the auto electronics market is anticipated to experience rapid growth in the forecast period.

Global Automotive Body Electronics Market Dynamics

Drivers: Stringent government regulation regarding driver safety and security to increase the deployment of body electronics in automotive

The automotive industry is a growing and competitive market with customers demanding better technology. The automotive industry is rapidly expanding and enforcement of strict government regulations on CO2 emission and advanced safety requirements, including mandatory installation of advanced safety features that serve the growth of the automotive body electronics market. The existing vehicles in North America and Europe are already equipped with advanced safety features, which serve most of the automotive body electronics market. Further, some safety regulations include Anti-Locking Brake System (ABS) made mandatory on Heavy Vehicles and Car Crash Standards to be made compulsory. The car crash standard is a new car assessment program to ensure better driver safety and decrease fatalities during accidents. This further pushes the OEMs to develop better designs in a cost-efficient and provide growing demand for the body electronics market.

Moreover, to meet government regulations on CO2 emission, automakers focus on hybrid vehicles. The energy conservation in these vehicles is tackled by increasing the efficiency of the electronic control unit (ECU) used in key areas like the management system. The safety services are provided by using multi-core microcontrollers and other innovations in body electronics, which again offers a growing demand for the body electronics market.

Restraints: Economic Slowdown in developed countries

According to the OECD, the growth of the global automotive market will continue to slow down. However, the global economy will grow faster than the previous years; the reasons for the divergent growth rates between the global economy (gross national product GDP) and the global automotive market are largely due to regional factors. The sales of light-duty vehicles in the United States and the EU are dropping. The slowing retail spending in the U.S. acts as a potential concern for the auto industry. However, European countries are facing a debt crisis and excess production capacity. Germany, the EU’s biggest market, recorded an 11% drop in registrations in February 2020, while the bloc’s other major markets were also in decline. This will also decrease the sales of electronic body electronics due to low demand from automakers in these regions. Therefore, economic slowdown and falling sales of vehicles in major economies are likely to impact the automotive body electronics market negatively.

Opportunities: Growing sale of EVs to create beneficial opportunities for the automotive body electronics market in the future

Electric vehicles (EV) have gained found popularity in past decades. In search of an emission-less and eco-friendly mode of transport, automakers have turned to EVs. EVs, as the name suggests, use electricity as the source of power to rotate wheels. A number of bigger names in the automobile industry, including Audi, BMW, Ford, and Volkswagen, are producing EVs. The Nissan Leaf was one of the first passenger electric cars from a bigger automobile manufacturer. As of 2019, the global sale of EVs stands at 2,264,400 units, which is 9% higher than that of 2018. The growing awareness regarding air pollution among the people is one of the major drivers for the growth of EV sales. Furthermore, several government initiatives to curb carbon emission are expected to help the sale of EVs.

You Can Purchase Complete [email protected] https://www.marketstatsville.com/buy-now/automotive-body-electronics-market?opt=2950

Scope of the Report

The study categorizes the automotive body electronics market based on component, body features, application, and region.

By Component Outlook (Sales, USD Million, 2017-2027)

  • MCU
  • ICs
  • Sensors
  • DC-DC converters
  • Other Components

By Body Features Outlook (Sales, USD Million, 2017-2027)

  • Windows and Door Modules
  • Seating Modules
  • Roof Module Control
  • Light Control
  • Wiper and Mirror Module
  • Auto HVAC
  • Remote Keyless Entry

By Application Outlook (Sales, USD Million, 2017-2027)

  • Passive Safety
  • Driver Assistance
  • Passenger Comfort
  • Vehicle Security System
  • Infotainment Systems
  • Chassis Electronics

By Region Outlook (Sales, USD Million, 2017-2027)

  • North America (US, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
  • The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

The ICs segment is projected to account for the largest market share by components

On the basis of components, the global market of automotive body electronics is segmented into MCU, Sensors, DC-CD Converters, ICs, and Others. ICs segments hold the largest market share of 29.1 % in the global automotive body electronics market. DC-DC converters segment is expected to grow with the highest CAGR over the forecast period. This is due to the increasing usages of IC in driver assistance systems, in-vehicle communication systems, transmission control systems, and many others. Additionally, increasing demand for integrated circuits lowers the prices of ICs, which is likely to positively impact the automotive integrated circuit market over the forecast period. Integrated circuits (ICs) are essential to vehicle control units. It is divided into various types, such as monolithic integrated circuits, digital integrated circuits, analog integrated circuits, and hybrid integrated circuits. Further, the increasing use of automotive integrated circuit technology in automobiles like vehicle airbags, engine management, transmission control systems, advanced driver assistance systems, in-vehicle communication, and alternator electronics increases the demand for integrated circuits in the automotive industry.

Asia Pacific accounts for the highest CAGR during the forecast period.+

Access full Report Description, TOC, Table of Figure, Chart, etc. @ https://www.marketstatsville.com/table-of-content/automotive-body-electronics-market

Based on the regions, the global automotive body electronics market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 8.01% in the global automotive body electronics market during the forecast period. The region includes the countries such as China, India, Japan, South Korea, Australia, Southeast Asia, and the Rest of Asia-Pacific. China and India are the foremost automotive market that is facilitating the demand for car sensors. China is the major country in the market for passenger vehicles.

After the Asia Pacific, Middle East & Africa is the fastest-growing region with a CAGR of 7.3% during the forecast period, 2021-2027. The MEA region is one of the growing regions for the automotive industry, and it is one of the most important market for key players in the automotive industry. In Saudi Arabia, there are more than 8 million passenger vehicles in operation. The government in Saudi Arabia has planned to add 3 million female drivers by 2020, which is expected to create new opportunities for the investors and industry participates in the automotive body electronics market.

Request For Report Description @ https://www.marketstatsville.com/automotive-body-electronics-market

Key Market Players

The leading global automotive body electronics market players include Robert Bosch, Continental AG, Denso Corporation, Hyundai Mob, HELLA, NXP Semiconductors, Texas Instruments, and Renesas Technology Corp Infineon Technologies, Cypress Semiconductor, STMicroelectronics, ZF, Dallas Semiconductors, Fujitsu Semiconductor, and Microsemi.

Market Statsville Group (MSG) partners with companies and society to confront their essential risks and challenges to capture the enormous opportunities for them. MSG initiated its work in 2017, and since then, the brand is moving to become a pioneer in business advisory and market research services.

We the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and incisive business insights. MSG experienced research analysts are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact.

Contact US:

Market Statsville Groups

416, East standsberry street,

Perkins, Oklahoma 74059, US

USA: +1-580-205-2707 | India: +91-702-496-8807

Email: sa[email protected]

MSG Blog https://marketstatsvilleblogs.com

Web: https://marketstatsville.com

LinkedIn | Facebook | Twitter

Leave a Reply

Your email address will not be published.