The rapidly growing automotive industry and technological advancements have entirely revolutionized the driving experience. Cars are increasingly being equipped with various types of advanced gadgets. Whether it is the GPS or the entertainment system, digital technology has connected automotive electronic devices with smartphones and tablets, thereby making it easier to use the devices while driving. The electronic components in vehicles account for over 30% of the production cost and this is anticipated to rise in future.
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The global automotive electronic devices market is estimated to expand at a CAGR of 3.1% during the period between 2012 and 2018 and reach a valuation of US$18.5 bn. Stringent regulations, development in product technologies, and innovative OEM strategies have propelled the growth of the global automotive electronic devices market. Infrastructural development, rise in disposable income, and growing urbanization have led to a rise in demand for vehicles with advanced features and improved safety. The highly dynamic market scenarios in Asia Pacific and Latin America will boost the demand for automotive electronic devices in the coming years.
In terms of product type, the report segments the global automotive electronic devices market into entertainment systems, control devices, GPS systems, video devices, and others. The entertainment systems segment is the largest product segment and is further divided into satellite radio, dashboard players, radio/audio devices, TV-DVD players, and others.
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The report studies the automotive electronic devices market across four key regions: North America, Europe, Asia Pacific, and Rest of the World. North America is the leading region in the market. However, during the forecast period, the region is expected to witness subdued growth. In Europe, the eurozone crisis has negatively affected the market.
Describing the competitive landscape, the report profiles some of the key players in the global automotive electronic devices market such as Antex, Philips, Delphi Automotive Systems, Denon, Sanyo, Yamaha, and Sony.
A new market research report by Transparency Market Research on the global automatic electronic devices market offers an overview of the current scenario of the market and points out the key factors affecting the growth of the market in the near future.
The report, titled “Automotive Electronic Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” projects the size and valuation of the global automotive electronic devices market during the period between 2015 and 2023. The report further studies the market on the basis of technology, product type, and region. Profiles of some of the key players in the global automotive electronic devices market have also been included in the report.