The Latest Automotive Electronics Industry Statistics Explained
The global automotive electronics market size was valued at USD 255.98 billion in 2019.
The statistic “The global automotive electronics market size was valued at USD 255.98 billion in 2019” indicates the total worth of the automotive electronics industry worldwide in terms of US dollars for the year 2019. This figure suggests the significant economic importance and scale of the market, which encompasses all electronic components and systems used in vehicles, such as infotainment systems, safety features, and control units. The value reflects the total revenue generated by companies involved in the production and sale of automotive electronics, including both original equipment manufacturers (OEMs) and aftermarket suppliers. This statistic serves as a key indicator of the growth, innovation, and technology adoption within the automotive industry, highlighting the increasing integration of electronics in modern vehicles.
The automotive electronics market is projected to reach USD 395.91 billion by 2024, at a CAGR of 9.1%.
This statistic indicates that the automotive electronics market is expected to grow significantly, reaching a value of USD 395.91 billion by the year 2024. The Compound Annual Growth Rate (CAGR) of 9.1% implies that the market is projected to experience a steady annual growth rate over the forecasted period. This growth can be attributed to advancements in technology, increasing consumer demand for connected vehicles, and the integration of various electronic components in modern automobiles. The projection suggests a positive outlook for the automotive electronics industry, with opportunities for innovation and expansion in the coming years.
Automotive electronics currently contribute nearly 40% to the overall cost of the entire car.
The statistic stating that automotive electronics currently contribute nearly 40% to the overall cost of a car highlights the growing significance and complexity of electronic components in modern vehicles. As technology advancements continue to drive innovation in the automotive industry, cars are increasingly incorporating a wide array of electronics such as sensors, control units, infotainment systems, and safety features. These electronic components not only enhance the driving experience but also play crucial roles in improving vehicle performance, efficiency, and overall safety. As a result, the substantial proportion of costs allocated to automotive electronics underscores their integral role in shaping the design, functionality, and value of contemporary automobiles.
By 2022, reports suggest, the average car will incorporate nearly USD 6000 worth of electronics.
The statistic suggests that by the year 2022, the average car will contain a significant amount of electronic components valued at approximately USD 6000. This indicates a growing trend in the automotive industry towards incorporating advanced technological features such as sensors, entertainment systems, connectivity tools, and safety mechanisms into vehicles. The increasing integration of electronics in cars reflects the demand for enhanced performance, efficiency, and convenience for drivers and passengers alike. As technology continues to evolve, the role of electronics in vehicles is anticipated to further expand, shaping the future of automotive design and functionality.
The safety systems segment of automotive electronics industry is expected to grow at a CAGR of over 12% from 2020 to 2026.
In the context of the automotive electronics industry, the statistic stating that the safety systems segment is expected to grow at a Compound Annual Growth Rate (CAGR) of over 12% from 2020 to 2026 indicates a significant upward trend in the demand and adoption of safety-related technologies within vehicles. This growth suggests an increasing emphasis on enhancing the safety features and functions in automobiles, driven by factors such as technological advancements, regulatory requirements, and consumer preferences for safer driving experiences. The projected CAGR of over 12% signifies a robust and steady expansion of the market for safety systems in automotive electronics, highlighting the industry’s response to a growing focus on ensuring the well-being of both drivers and passengers on the road.
In-car entertainment systems sector is anticipated to witness growth in the automotive electronics market with a CAGR of over 10% from 2020 to 2026.
This statistic indicates that the in-car entertainment systems sector is projected to experience a substantial increase in demand within the automotive electronics market, with a Compound Annual Growth Rate (CAGR) exceeding 10% over the period from 2020 to 2026. This forecast suggests a strong and consistent growth trend for in-car entertainment systems, reflecting the evolving consumer preferences for advanced technological features in vehicles. The CAGR serves as a measure of the annual growth rate over a specified period, highlighting the potential market expansion and opportunities for companies operating in the automotive electronics sector to capitalize on the increasing demand for innovative in-car entertainment solutions.
Asia-Pacific dominated the automotive electronics market with 38.4% of the revenue share in 2019.
The statistic that ‘Asia-Pacific dominated the automotive electronics market with 38.4% of the revenue share in 2019’ indicates that the Asia-Pacific region had the largest market presence and generated the highest revenue in the automotive electronics sector in 2019 compared to other regions globally. This suggests that the automotive electronics industry in the Asia-Pacific region has experienced significant growth and market demand, potentially driven by factors such as technological advancements, manufacturing capabilities, consumer preferences, and economic development in countries within the region. This statistic highlights the importance of the Asia-Pacific region as a key player in the automotive electronics market, influencing industry trends and shaping the competitive landscape within the sector.
The powertrain segment is projected to hold a significant share in the automotive electronics market and is expected to reach USD 59.56 billion by 2027.
This statistic indicates that the powertrain segment, which encompasses the components responsible for generating and transmitting power in vehicles, is anticipated to play a crucial role in the automotive electronics market. The projection suggests that this segment is likely to contribute substantially to the overall market size and is forecasted to reach a value of USD 59.56 billion by the year 2027. This growth projection highlights the increasing demand for electronic systems and components within the powertrain segment of vehicles, reflecting advancements in automotive technology, increasing focus on fuel efficiency, and the shift towards electric and hybrid vehicles. The trend underscores the importance of powertrain electronics in shaping the future of the automotive industry.
The projected value of the global automotive semiconductor market by 2025 is USD 129.3 billion.
The statistic regarding the projected value of the global automotive semiconductor market by 2025 as USD 129.3 billion represents an estimate of the total revenue generated from the sales of semiconductor components specifically used in the automotive industry. This forecast likely takes into account various factors such as the increasing integration of advanced technologies in vehicles, growing demand for electric and autonomous vehicles, and the overall expansion of the automotive market globally. The figure serves as a valuable insight for industry stakeholders, policymakers, and investors to understand the anticipated growth and significance of semiconductor components in driving innovation and development within the automotive sector in the coming years.
The demand for Gate Driver ICs for automotive is expected to grow at a CAGR of 8.3% from 2021 to 2027.
The statement indicates that the demand for Gate Driver Integrated Circuits (ICs) within the automotive industry is projected to increase steadily over the specified period from 2021 to 2027 at a Compound Annual Growth Rate (CAGR) of 8.3%. This growth rate represents the average annual growth expected in demand for Gate Driver ICs during this time frame. The forecast suggests that there will be a consistent and significant rise in the utilization of these components in automotive applications, likely driven by advancements in electric vehicles, autonomous driving technologies, and increasing integration of electronics within vehicles. This statistic serves as a valuable insight for stakeholders in the automotive and semiconductor industries to plan for production capacity, market positioning strategies, and investment decisions in line with the anticipated growth trajectory.
Europe automotive electronics market is expected to grow at a CAGR of around 6% during 2021-2026.
This statistic implies that the automotive electronics market in Europe is projected to experience a Compound Annual Growth Rate (CAGR) of approximately 6% from 2021 to 2026. This indicates a consistent annual growth rate for the industry over the specified time period. Such growth may be driven by factors such as technological advancements in automotive electronics, increasing demand for safety and connectivity features in vehicles, and regulatory initiatives promoting the adoption of electronics in automobiles. Overall, this statistic suggests a positive outlook for the Europe automotive electronics market with opportunities for both manufacturers and consumers in the region.
The global automotive power electronics market was valued at USD 4.41 Billion in 2015 and is expected to reach USD 5.49 Billion by 2022.
The statistic indicates the financial value of the global automotive power electronics market in 2015, which was estimated at USD 4.41 billion, and provides a growth projection for the market to reach USD 5.49 billion by the year 2022. This shows a potential increase in market size over the specified time period, reflecting a positive trend in the demand for automotive power electronics technology. The expected growth suggests that the automotive power electronics industry is expanding, likely driven by factors such as advancements in electric and hybrid vehicles, increasing focus on energy efficiency, and technological innovations in the automotive sector. The statistic serves as a valuable indicator for stakeholders, including companies within the automotive power electronics market, investors, and policymakers, to understand the market’s current state and anticipate future developments.
The usage of sensors in automotive has been continuously increasing with over 50 sensors on an average in a single vehicle in 2021.
The statistic indicates a significant rise in the deployment of sensors within the automotive industry, with an average of over 50 sensors present in a single vehicle in 2021. Sensors play a crucial role in modern vehicles by collecting data and monitoring various aspects such as temperature, pressure, proximity, and more to enhance safety, efficiency, and overall performance. This trend reflects the growing integration of advanced technologies like autonomous driving, driver assistance systems, and connectivity features in vehicles. The increasing number of sensors not only demonstrates the rapid development of automotive technology but also underscores the industry’s emphasis on innovation and improving the driving experience for consumers.
Infotainment application in automotive electronics market is expected to have a significant growth with a CAGR of 14.7% from 2020 to 2027.
This statistic indicates that the infotainment application segment within the automotive electronics market is projected to experience substantial growth over the period from 2020 to 2027, with a compound annual growth rate (CAGR) of 14.7%. This growth rate suggests a consistent and strong increase in demand for infotainment technologies in vehicles, driven by factors such as technological advancements, consumer preferences for connected and interactive features in cars, and the integration of entertainment and information systems in automobiles. The forecasted CAGR of 14.7% signals a lucrative opportunity for companies operating in the automotive electronics sector to capitalize on the growing market for infotainment solutions in the coming years.
The MEA region holds a significant part of the automotive electronics market, with a projected CAGR of 12% between 2020 and 2026.
This statistic highlights the significant growth and prominence of the automotive electronics market within the Middle East and Africa (MEA) region. The projected Compound Annual Growth Rate (CAGR) of 12% between 2020 and 2026 indicates a strong and sustained expansion of the market in that region. This growth can be attributed to various factors such as increasing demand for advanced vehicle technologies, government initiatives promoting electric vehicles and smart transportation systems, and a growing automotive industry in the MEA region. The statistic suggests that the automotive electronics sector in the MEA region is expected to play a pivotal role in shaping the future of the automotive industry and driving technological advancements in vehicles over the coming years.
14 million units of electric vehicles were sold globally in 2019, driving the need for more automotive electronics.
The statistic of 14 million units of electric vehicles sold globally in 2019 highlights a significant increase in the adoption of electric vehicles and the growing demand for automotive electronics. As more consumers transition towards electric vehicles to reduce emissions and embrace sustainable transportation options, there is a corresponding need for advanced electronic systems and components within vehicles. This trend is driving innovation in automotive electronics to support the functionalities of electric vehicles, such as battery management systems, electric motors, and charging infrastructure. The surge in electric vehicle sales signals a shift towards a more environmentally friendly transportation sector and underscores the importance of developing cutting-edge automotive electronic technologies to meet the evolving needs of the industry.
The body electronics segment was valued at $19.95 billion in 2019 in the automotive electronics market.
The statistic states that the body electronics segment, which refers to the electronic systems controlling various functions within a vehicle’s body such as lighting, HVAC, and security, had a market value of $19.95 billion in 2019 within the automotive electronics industry. This indicates the significant financial size and importance of this particular segment in the automotive market. The high market value suggests a growing demand for advanced electronic features in vehicles to enhance safety, convenience, and overall user experience, driving the continued innovation and development of body electronics technologies by automotive manufacturers and suppliers.
The global advanced driver-assistance systems (ADAS) market, a key part of automotive electronics, is expected to reach USD 83.20 billion by 2025.
This statistic indicates the projected market value of the global advanced driver-assistance systems (ADAS) industry, which plays a crucial role in the development of automotive electronics. The estimated value of USD 83.20 billion by 2025 signifies the anticipated growth and demand for ADAS technologies in the automotive sector. These systems, which include features such as adaptive cruise control, lane departure warning, and automatic emergency braking, are aimed at increasing safety, convenience, and efficiency in vehicles. The substantial market size forecasted for ADAS highlights the increasing importance of technological advancements in the automotive industry to enhance driver and passenger safety as well as overall driving experience.
Demand for automotive ICs grew by 10.8% in 2020 despite the overall downturn due to pandemic.
The statistic stating that the demand for automotive integrated circuits (ICs) increased by 10.8% in 2020 despite the overall economic downturn caused by the COVID-19 pandemic indicates a resilient performance within the automotive industry. Integrated circuits are crucial components for vehicles as they support various systems such as engine control, driver assistance, and infotainment. Even though the pandemic led to reduced car sales and disrupted supply chains, the increased demand for automotive ICs suggests a strong underlying demand for advanced electronics in vehicles. This growth could be attributed to the increased focus on electric and autonomous vehicles, as well as the rising trend of connectivity features in cars. Overall, the statistic reflects the adaptability and importance of technology in the automotive sector, even during challenging times.
The powertrain systems in automotive electronics market is projected to reach a value of $59.56 billion by 2027, exhibiting a CAGR of 4.8%.
The statistic indicates that the powertrain systems in automotive electronics market is expected to grow significantly, with a projected value of $59.56 billion by the year 2027. The Compound Annual Growth Rate (CAGR) of 4.8% suggests a moderate but steady expansion over the forecast period. This growth is driven by various factors such as technological advancements in automotive electronics, increasing demand for electric vehicles, and efforts to improve fuel efficiency and reduce emissions. The market’s growth trajectory signifies opportunities for companies operating in the automotive electronics sector and highlights the importance of powertrain systems in shaping the future of the automotive industry.
Conclusion
The statistics presented clearly highlight the growing significance of the automotive electronics industry in the global market. With increasing technological advancements and consumer demand for connectivity and safety features in vehicles, this sector is poised for continued growth and innovation in the coming years. The data underscores the crucial role that electronics play in shaping the future of transportation, making it an exciting time for businesses and consumers alike.
References
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