Global Market Scenario of Aerial Imaging Industry • Automotive electronics market size is anticipated to be USD 352.92 billion by 2023: Global Market Insights, Inc. • New technologies such as low-speed collision avoidance system and driver assistance system provide several advantages by installation of map-enabled equipment in automotives. • They also allow lane departure system, intelligent front lighting system and driver assistance systems that are enabled by united adaptive front lighting • Safety equipment includes speed alert, map-supported adaptive front lighting, collision warning and usage data transmission.
Continue..... • LED technologies such as high or low beam lights as well as daylight running lamps offer better fuel efficiency at low power consumption • Rising concerns among regulatory authorities related to passenger safety are expected to offer potential opportunities for industry growth • Moreover, integration of safety devices such as airbags, auto dimming mirrors & electro chromatic mirror, heads-up display and back up sensing system are also likely to propel automotive electronics market growth from 2016 to 2023. • Proliferating need for highly developed direct-injection diesel engines is anticipated to fuel automotive electronics market size over the coming few years.
Asia Pacific automotive electronics market size by application, 2012-2023 (USD Billion)
360° Analysis Application Analysis:- Automotive safety systems market accounted for over 28% of overall industry share in 2015. It is likely to be valued at around USD 100 billion, growing at a CAGR of over 8.5% from 2016 to 2023. This can be primarily attributed to mounting safety proposals from government and regulatory agencies across the globe. Regional Analysis:- Asia Pacific automotive electronics market size accounted for over 39% of the global revenue in 2015. The region is likely to grow at 9% and will reach USD 145 billion by 2023. This can be mainly attributed to rising demand for customized vehicle, superior product quality and low cost vehicles. Competitive Market Share:- he industry is highly consolidated with the presence of several well-known brands having proven engineering and testing divisions providing engineers for maintenance. The competitive nature of the industry has given rise to an emphasis on establishing strategic alliances with channel partners.
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