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Installation of Advanced Automotive Electronic Devices Makes Its Market to Rise Expeditiously in Usa

  • Date Submitted: 02/09/2016 01:38 AM
  • Flesch-Kincaid Score: 26 
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The growing automotive industry and continuous technological developments have transformed the driving experience completely. Cars in today’s world are equipped with unprecedented numbers and types of advanced gadgets. Be it the GPS system or entertainment systems, everything is going digital and driving the global market for automotive electronic devices. Electronic components in vehicles make up more than 30% of the production cost, and this is expected to rise. Growing at an expected CAGR of near about 3.1% from 2012 – 2018, the market is estimated to be worth USD 18.5 billion in 2018

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Market is primarily driven by factors such as:

> Development in product technologies
> Globally focusing OEM strategies
> Stringent regulations
> Other macro and micro economic factors

Rise in disposable income, development of infrastructure, and growing urbanization is influencing the demand shift towards vehicles with advanced features and improved safety.

The global automotive electronic devices market, for analysis, can be segmented based on parameters such as technologies and products.

Based on the product type, the different electronic devices used in vehicles are:

> GPS systems
> Entertainment systems
> Control devices
> Video devices

Of all the product types, entertainment systems are the most vivid, and have multiple sub-segments, such as radio/audio devices, satellite radio, dashboard player, TV-DVD players, and so on. A new trend showing up in the market is the integration of multiple systems into one, so that scope for new systems or multiple installations, cost optimization, and design variations is further raised.

North America still holds the largest market share, but is expected to show subdued growth during the forecast period.
A similar trend is expected in European...

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