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Automotive Electronics Market 2021 Top Countries Data, projected revenue figures, growth rate throughout the forecast period 2030

In a recent published report, Kenneth Research has updated the market report for Automotive Electronics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Automotive Electronics Market products.

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The increasing demand for passenger cars, and growing penetration of electric and hybrid vehicles majorly drives the market growth. The growing need to improve road safety, and introduction of stringent regulations to enhance vehicular safety and control emissions has accelerated the growth of the automotive electronics market. The development of autonomous vehicles along with growing demand for luxury and comfortable driving experience supports the growth of the market. Other factors driving the market growth include growing disposable income, technological advancements, and changing lifestyles. New emerging markets, and emerging consumer demographics would provide growth opportunities for automotive electronics market in the coming years.

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In 2017, Asia-Pacific accounted for the highest share in the global automotive electronics market. The introduction of stringent government regulations regarding vehicular safety and growing penetration of electric and hybrid vehicles accelerates the adoption of automotive electronics in the region. The strong growth in the automotive industry, technological advancements, and high investment in R&D are factors expected to drive the market growth in the region. The economic growth in countries such as China, Japan, and India, rising living standards and growing disposable income further increases the demand of automobiles in the region. Expansion of global players into these countries to tap market potential boosts the market growth.

The global Automotive Electronics market is segmented on the basis of application, vehicle type, sales channel, and geography. Based on application, the market is segmented into Powertrain, ADAS, Safety Systems, Infotainment, Body Electronics, and others. The sales channel segment is categorized into OEM, and aftermarket. OEM accounted for the dominant share in the global automotive electronics market in 2017. The vehicle types in the global automotive electronics market include passenger vehicles, and commercial vehicles.

The well-known companies profiled in the report include Bosch Group, Atmel Corporation, Delphi Automotive, Hitachi Automotive, Texas Instruments, Infineon Technologies, ZF Friedrichshafen AG, ON Semiconductor Corp., OMRON Corporation., and STMicroelectronics N.V. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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