The global automotive electronics market is expected to reach USD 279.96 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand for advanced driver assistance systems and premium audio systems are some of factors expected to drive the automotive electronics market through the forecast period. Continuous growth in the number of electronics components used by automotive manufacturers has spotlighted new opportunities for suppliers. Emergency call systems, alcohol ignition interlocks and accident recorder systems are various technologies that are expected to spur market growth through the forecast period.
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High level of complexity and lack of awareness about the overall understanding of the subsystems may curb market growth. Various complexities include tolerance stackup, mechatronic interaction and harsh operating environment. In order to meet the rising complexity issues, OEMs are focusing on product innovation such as reducing weight, and decreasing number of modular platforms. Additionally, increasing trend towards in-vehicle infotainment is expected to yield opportunities for the automotive electronics market.
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.
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