Automotive electronics are key components of automobiles and therefore, the mushrooming sales of automobiles are positively impacting the requirement for automotive electronics across the globe. According to many reports, automotive electronics nowadays account for nearly 35% of the total cost of an automobile as compared to their share of only 5% of the total price of a vehicle in 1970.
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Furthermore, as per the predictions of the industry experts, this share will grow to 50% by 2030, which will, in turn, lead to huge revenue generation from the sales of these electronics systems. In the recent times, there has been a drastic rise in the sales of automobiles throughout the globe, primarily because of the rapid growth of the automotive industry in several countries and the surge in the disposable income of the people, especially in the developing nations around the world.
Globally, the Asia-Pacific (APAC) automotive electronics market will be very prosperous in the future, as per the forecast of P&S Intelligence, a market research firm based in India. Moreover, the sales of vehicles will push up in the future years, which will consequently boost the sales of various automotive components such as electronics. As per the findings of the Organisation Internationale des Constructeurs d'Automobiles (OICA), global vehicle sales increased at a CAGR of 1.8% between 2014 and 2018. The organization also found that 95.1 million automobiles were sold across the world in 2018.
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Furthermore, the growing popularity of electric and autonomous vehicles will lead to a sharp rise in the sales of automotive electronics in the coming years. Besides the burgeoning sales of vehicles, the growing requirement for efficient and safe automobiles is also fueling the worldwide demand for automotive electronics systems. The rising incidence of road accidents has considerably boosted the popularity of vehicles equipped with various safety systems such as advanced driver assistance system (ADAS).
Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/automotive-electronics-market/report-sample
Furthermore, as per the predictions of the industry experts, this share will grow to 50% by 2030, which will, in turn, lead to huge revenue generation from the sales of these electronics systems. In the recent times, there has been a drastic rise in the sales of automobiles throughout the globe, primarily because of the rapid growth of the automotive industry in several countries and the surge in the disposable income of the people, especially in the developing nations around the world.
Globally, the Asia-Pacific (APAC) automotive electronics market will be very prosperous in the future, as per the forecast of P&S Intelligence, a market research firm based in India. Moreover, the sales of vehicles will push up in the future years, which will consequently boost the sales of various automotive components such as electronics. As per the findings of the Organisation Internationale des Constructeurs d'Automobiles (OICA), global vehicle sales increased at a CAGR of 1.8% between 2014 and 2018. The organization also found that 95.1 million automobiles were sold across the world in 2018.
Make Enquiry Before Purchase @ https://www.psmarketresearch.com/send-enquiry?enquiry-url=automotive-electronics-market
Furthermore, the growing popularity of electric and autonomous vehicles will lead to a sharp rise in the sales of automotive electronics in the coming years. Besides the burgeoning sales of vehicles, the growing requirement for efficient and safe automobiles is also fueling the worldwide demand for automotive electronics systems. The rising incidence of road accidents has considerably boosted the popularity of vehicles equipped with various safety systems such as advanced driver assistance system (ADAS).
