Automotive technologies market size to grow by USD 151.8 million from 2021 to 2026: A descriptive analysis of customer landscape, vendor assessment, and market dynamics

NEW YORK, Jan. 16, 2023 /PRNewswire/ — The global automotive technologies market size is estimated to increase by USD 151.8 million. The market’s growth momentum will progress at a CAGR of 10.68{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}.

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Global automotive technologies market – Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

Global automotive technologies market – Vendor analysis
Vendor Landscape – The global automotive technologies market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer automotive technologies in the market are Advanced Micro Devices Inc., Airbiquity Inc., Aptiv Plc, BlackBerry Ltd., Continental AG, DENSO Corp., Elektrobit Automotive GmbH, Faurecia SE, Hitachi Ltd., Infineon Technologies AG, Intel Corp., Microchip Technology Inc., Microsoft Corp., NVIDIA Corp., NXP Semiconductors NV, Renesas Electronics Corp., Robert Bosch GmbH, Valeo SA, Visteon Corp., and ZF Friedrichshafen AG and others.

The global automotive technologies market is at its growing stage. This implies that the market in focus is characterized by the rising adoption of ADAS features in vehicles, the integration of advanced safety technologies in luxury cars, and the rise in technological advances in automobiles.

Vendor offerings –

• Advanced Micro Devices Inc: The company offers automotive technologies such as Automotive grade Zynq 7000 SoCs which feature programmable system integration, increased system performance, total power reduction, accelerated design productivity, and BOM cost reduction.

• Continental AG: The company offers automotive technologies such as drum brakes, LiDAR, ultrasonic parking sensors, 3D displays, motion control, and remote garage parking.

• DENSO Corp: The company offers automotive technologies such as air conditioning systems, power train systems, safety and cockpit system, and service stations.

• Elektrobit Automotive GmbH: The company offers embedded software solutions and services for the automotive industry.

• Faurecia SE: The company offers automotive technologies such as driver assistance systems, actuators, sensors, energy ­management, and lighting systems.

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Global automotive technologies market – Segmentation assessment

Segment overview
Technavio has segmented the market based on components (hardware, software, and services) and geography (APAC, Europe, North America, South America, and the Middle East and Africa).

• The market share growth of the hardware segment will be higher than the other segments during the forecast period. The primary purpose of the car’s computer system is to monitor the engine and regulate it so that emissions are kept as low as feasible. The rising inclination of consumers toward lightweight and fuel-efficient vehicles has encouraged manufacturers to develop advanced components made of materials such as carbon fiber, magnesium, and aluminum and install lightweight radars in vehicles.

Geography overview
By geography, the global automotive technologies market is segmented into APAC, Europe, North America, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive technologies market.

• APAC will account for 49{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} of the market’s growth during the forecast period. The major markets in APAC for automotive technologies are China, Japan, and South Korea. Market growth in this region will be faster than the market growth in other regions. The market expansion for automotive technologies in APAC will be driven by the rising adoption of technologies and connected infotainment systems over the forecast period.

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Global automotive technologies market – Market dynamics

Leading drivers – The rising adoption of ADAS features in vehicles is one of the key drivers supporting the automotive technologies market growth. The applications of ADAS in automobiles have improved due to the quick adoption of software algorithms, CPUs, sensors, cameras, and advanced technology in mapping obstacles. As concerns over passenger security and safety have grown, governments in developing nations have set strict safety standards for automotive manufacturers to create vehicles with ADAS features. For instance, the government of India mandated the installation of a co-driver airbag in all vehicle segments. Such instances may drive market growth during the forecast period.

Key trends – Increasing developments in semi-autonomous and autonomous vehicles are one of the key automotive technologies market trends contributing to the market growth. The deployment of infrastructure-to-vehicle and vehicle-to-vehicle communication technologies, along with the rapid advancement of sensor-processing technologies, high-definition mapping, adaptive algorithms, and other technologies, is driving several companies to increase their production capacities and raising the level of vehicle automation. Increasing the use of automated vehicles is predicted to lower vehicle running costs, improve travel comfort and convenience, and encourage longer commutes, all of which are expected to drive market growth during the forecast period.

Major challenges – The lack of standard protocols is one of the factors hampering the automotive technologies market growth. Numerous governmental guidelines control the manufacturing of automobiles by limiting the creativity of engineers and designers. The main goal of these standards is to improve passenger and driver safety, both on the road and in terms of theft. Each nation has its own set of rules and automakers need to modify their production practices to sell their goods in various international marketplaces. The manufacturers suffer financial losses as a result of having to put up many assembly lines due to the changing norms in each nation. Such losses can prevent the market from growing during the projected period.

Driver, Trend & Challenges are the factor of market dynamics that states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this automotive technologies market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the automotive technologies market between 2022 and 2026

• Precise estimation of the size of the automotive technologies market and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the automotive technologies market across APAC, Europe, North America, South America, and Middle East and Africa

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of automotive technologies market vendors

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Component

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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