Grand View Research, Inc. recently reported its findings from a study on the global automotive electronics market. The results of the research show that the global electronics market is expected to increase to over 400 billion in market size by 2025. Expected growth trends are forecast due to stricter regulations in vehicle safety standards.
Increased standards in safety systems for automobiles, such as airbags and anti-lock braking systems, are seen as one cause of the anticipated market growth. While the U.S. has had these systems in place for some time, new regulations in more developing countries mandating automated safety systems are on the increase.
The EU and China both recently launched new systems to improve vehicle safety standards. The global automotive electronics market is currently dominated by Asia Pacific and its expected to continue do so during the forecast period.
Consumer demand for state-of-the-art automobiles is also a factor in the global electronics market.
In North American countries like the U.S. and Canada, interactive systems, such as those with embedded vision systems that have the capability to track real-time images, have recently made their mark in the automotive electronics market. And, the U.S. Department of Transportation now mandates that all vehicles have backup cameras.
Finally, stricter government regulations on fuel emissions as well as advanced safety systems like alcohol ignition interlocks, accident data recorders, and emergency call systems, will all contribute to the expected growth of the automotive electronics market.
Intel Corporation, Denso Corporation, and Continental Corporation are some of the top names in the global automotive electronics market that should profit from the market increases.