Automotive Electronics Market to Reach $280 Billion by 2020
Reportlinker Review is a series of posts featuring Innovations, Social and Economic Megatrends to understand the World of Tomorrow. Each post is illustrated with statistics for one industry.
Reportlinker’s Automotive Electronics Industry Review in a nutshell
- Market grows as vehicles become more autonomous
- Renesas Electronics introduces new automated driving kit
- Clarion Corp. sponsoring car event
How is the Automotive Electronics market ?
By 2020, the automotive electronics market will reach $279.96 billion globally, Grand View Research forecasts.
The market has increased as premium audio systems, infotainment systems and advanced driver assistance systems have increased in demand. The increase in electric and hybrid vehicles also is contributing to market growth.
Advanced driver assistance systems are forecasted to witness the most growth by 2020.
In 2013, North America was the largest market, but Asia-Pacific is forecasted to experience the most growth.
The global automotive electronics market is expected to reach USD 279.96 billion by 2020.
Technology advances since the 1920s having improved comfort and safety.
In 2015, vehicles contained more electronic than mechanical parts. The average hatchback, according to Research Beam, is comprised of 35% to 40% electronic parts. By 2020, this is expected to reach 60%.
Braking systems, for example, are shifting from mechanical to hydraulic breaking. Soon the market is expected to shift again to electronic breaking systems.
Semiconductor manufacturer Renesas Electronics Corp. has developed a highly automated driving (HAD) solution kit.
HAD is designed to reduce the development time of electronic control units.
It allows software to be developed in a similar fashion to electronic control units.
The automobile industry has committed to having practical autonomous vehicles on the market by 2020. This, however, takes a large amount of computing power and requires a powerful CPU.
Developers must first create a prototype and then test it using computers. Test results will then be used to make system modifications.
HAD is designed to be tested in a lab and on roads. This is intended to save time and improve efficiency.
Driving test data can be recorded.
The system includes 16 cameras, a controller area network and Ethernet ports.
It is ISO 26262 ASIL-B functionality safety standard and ISO 26262 ASIL-D standard compliant.
The first HAD will be available in February.
Auto Show Event
Electronics manufacturer Clarion Corporation of America will sponsor this year’s Classic Car event in Pasadena, CA.
Clarion will be featuring a car with its Full Digital Sound audio system.
The event is held at ArtCenter College of Design. It celebrates automobile design.
“Technology integration is a large part of the design challenge for most cars, especially when it comes to today’s automotive interiors,” Jay Sanders, Executive Director of the Undergraduate Transportation Design Department at ArtCenter College of Design, said in a statement.
ReportLinker Review – Global Automotive Electronics Market
- In 2015, the market was worth $184.4 billion. By 2022, it is forecasted to reach $380 billion. From 2015 to 2022, this represents a compound annual growth rate (CAGR) of 10.8%. (source: Stratistics MRC)
- During the period 2016-2020, the market is forecasted to grow at a CAGR of 14.4%. (source: TechNavio)
- In 2016, the market decreased 5.3%. (source: Plimsoll Publishing)
- During the period 2016-2020, the automotive under-the-hood electronics market is forecasted to grow at a CAGR of 10.9% globally. (source: TechNavio)