Automotive Electronics Market: Recent Industry Developments and Growth Strategies Adopted by Players
The latest trending report published by Crystal Market Research titled, Automotive Electronics Market, approximates that the Automotive Electronics market size is estimated to flourish at a significant CAGR in the future, and this is attributed to the escalation in need for this product across the globe along with novel innovations in the market.
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The Automotive Electronics Market was worth USD 150 billion in the year 2012 and is expected to reach approximately USD 334.80 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 7.49% during the forecast period. The progress towards cutting edge safety frameworks is relied upon to drive the global automotive electronics market throughout the following years. Alcohol ignition interlocks, emergency call systems, and accident data recorder systems are an example of developments where future request is relied upon to stimulate market development.
Key Players in Market:
Robert Bosch GmbH
The European Union is anticipated to command various applications within the following couple of years. Driver’s assistance systems and Low-speed collision avoidance systems are expected to be among the prevalent innovations. Coordination of map-enabled systems likewise gives various application alternatives prompting points of interest, for example, intelligent front lighting systems, lane departure systems and driver assistance systems empowered by united versatile front lighting. Security advances additionally incorporate speed alert, map-supported adaptive front lighting, usage data transmission and collision warning. Absence of awareness about the general comprehension of the interplay of subsystems and trouble of OEMs in keeping up and dealing with the procedure with implanted controllers that are produced by tier-1 providers is anticipated to challenge market development.
Asia Pacific is relied upon to keep representing most of the worldwide market throughout the following years. The administration in China has advanced C-NCAP’s safety evaluations urging purchasers to see a five-star rating as a manual for vehicle’s quality. The Department of Transportation in the United States has commanded equipment for safety, for example, a backup camera in every new vehicle, expanding vehicle costs by USD 200 for the new base models.
The global automotive electronics market is segmented as follows:
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About Crystal Market Research:
Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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