Electric Ship Market Size Worth $14.64 Billion By 2027

The global electric ship market size is expected to reach USD 14.64 billion by 2027, registering a CAGR of 11.2%from 2020 to 2027, according to a new report by Grand View Research, Inc. Growing sensitivity of various international maritime authorities towards a cleaner environment has supported the demand for a zero-emission marine electric vessel. Additionally, rising adoption of an electrically-propelled ship for inland cargo and passenger transportation is anticipated to boost the market growth over the forecast period.

The marine vessels with conventional internal combustion engine-based propulsion systems and propellers are directly connected to the engine with the shaft, which creates a high level of friction and vibration, thereby decreasing the overall efficiency of the vessel. Moreover, the vibrations created by this connection generate structural fatigue in the vessel structure and discomfort to the crew/passengers.

However, in electric ship propulsion, there is no physical connection of power source to the propeller, which reduces noise, vibration, and friction generated from this link. Moreover, increased focus of international maritime authorities to limit the noise and vibration in the vessel has compelled the shipbuilders to invest and adopt alternative technologies in accordance with the environmental regulations. Furthermore, high adoption of low vibration propulsion system in luxury passenger cruise and yachts is expected to significantly boost the market growth over the forecast period.

The conventional internal combustion engine encapsulates a lot of space as compared to an electric propulsion system owing to its physically connected machines from power source and propeller through a shaft. The shift from conventional engines to the electrical propulsion system can save a lot of space in the vessel, which further can be used to carry extra cargo and passengers to earn more profit in this competitive era. Moreover, the internal combustion engine of big marine vessels runs on bunker fuel owing to its low cost, although it generates a high volume of sulfur emission. However, increased focus of the shipbuilders on reducing sulfur emissions, along with higher effectiveness and efficiency, is expected to positively impact the market growth over the forecast period.

Moreover, increasing adoption of the electric-based defense technology in the naval defense, such as laser gun and rail guns, is expected to boost the electrically propelled vessel. Energy requirement of the technologies, such as laser gun and medium to large-caliber rail guns, is in millions of amps. These systems cannot be installed on the conventional ships owing to their huge power requirement and none of the vessels can generate or store such amount of energy. Besides, in an electric boat, the energy generated can be diverted to these new technology weapons, which has led to the adoption of these ship in the naval defense forces.

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https://www.grandviewresearch.com/industry-analysis/electric-ship-market

Further key findings from the report suggest:

By power source, the hybrid segment is expected to exhibit the highest CAGR over the forecast period owing to presence of additional propulsion option, which reduces the risk during the long route voyages
Based on power output, the less than 75 kW segment is expected to witness the fastest growth throughout the forecast period owing to its adoption in maritime tourism, border patrol, and specialized purpose vessels
On the basis of autonomy level, fully autonomous ship is expected to be commercialized by the year 2020. Owing to this fact, the market is majorly driven by semi-autonomous technologies
Asia Pacific is anticipated to register the second highest CAGR over the forecast period owing to high manufacturing rate and industrialization, coupled with huge trade volume from this region across the globe.

Commercial Kitchen Appliances Market Worth $131.77 Billion By 2027

The global commercial kitchen appliances market size is expected to reach USD 131.77 billion by 2027, expanding at a CAGR of 6.7% from 2020 to 2027, according to a new report by Grand View Research, Inc. Rising popularity of Quick Service Restaurants (QSRs) and Full Service Restaurants (FSRs) and expanding travel and tourism are some of the key factors driving the market. Other factors impacting the market growth are rising demand for drive-through meals, development of railways, fast-paced life in metros and cosmopolitans, surge in the number of working women and nuclear families, and increasing disposable income of individuals.

Emergence of smart kitchen equipment is expected to favorably contribute to the market growth. Smart technologies can keep track of the performance of kitchen equipment as well as increase food preparation consistency. Hence, key market participants are focusing on technological advancements pertaining to ventilation, temperature control, and automated techniques for maintenance and cleaning of the equipment to reduce operational time and capital in the long run.

Moreover, the Internet of Things (IoT) is taking over commercial kitchens worldwide by integrating the appliances with other electronic devices owned by the consumers, which, in turn, increases efficiency and saves time. For instance, Monnit Corporation designs remote monitoring solutions for commercial refrigerators that are built with temperature and humidity sensors to ensure food quality, monitor cold inventory, and optimal inventory storage. Prominent end-use industries of commercial kitchen appliances are equipping multi-functional equipment with such state-of-the-art solutions as they are more efficient and they combine several functions in a single device to accommodate different pre-cooking programs as well as prepare multiple dishes in relatively less time.

According to the U.S. Environmental Protection Agency (EPA), commercial kitchens roughly consume 2.5 times more energy per square foot than any other commercial spaces. Thus, growing concerns regarding the energy consumption of equipment used and shift towards more energy-efficient appliances are expected to significantly contribute to the industry growth. Furthermore, rising government initiatives to spread awareness about energy consumption and increasing electricity cost are expected to drive the demand for eco-friendly and energy-efficient equipment over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/commercial-kitchen-equipment-appliances-market

Further key findings from the report suggest:

In North America, the dishwasher segment is expected to reach USD 4.09 billion by 2027
The rail, cruise and airways catering segment is expected to expand at the highest CAGR during the forecast period
The Average Selling Price (ASP) of kitchen equipment is higher in U.S. owing to greater variation in prices and availability of a diverse product range
MEA is expected to witness the fastest growth during the forecast period
Key participants in the market include Bakers Pride, G.S. Blodgett Corporation, Garland Group, Vulcan, Bonnet International, Ali Group, and True Manufacturing.

Passive & Interconnecting Electronic Components Market Worth $257.3 Billion By 2027

The global passive and interconnecting electronic components market size is estimated to reach USD 257.3 billion by 2027, registering a CAGR of 5.3% from 2020 to 2027, according to a new study by Grand View Research, Inc. Electronic components play an essential role in several verticals, including IT and telecommunication, consumer electronics, automotive, aerospace and defense, and healthcare. These components form an indispensable part of an electronic system and helps it to function automatically. Moreover, the rapidly surging demand for consumer electronic goods and household appliances such as smartphones, laptops, digital cameras, and air conditioners is expected to fuel market growth over the forthcoming years.

The rising need for enhanced data speed among consumers, businesses, and industries has enabled key telecom operators such as AT&T Inc., Verizon Communications, China Mobile Limited, and KT Corp. to install 5G network infrastructure in order to deliver seamless connectivity to their customers. With a significant surge in demand for telecom equipment and network devices to build 5G network infrastructure, it is anticipated to augment the adoption of passive and interconnecting electronic components during the forecast period. Moreover, rapidly building data centers across worldwide has stimulated the demand for network devices. As a result, it is expected to boost market growth from 2020 to 2027.

The rapidly evolving technologies such as robotics and sensors-based systems for industrial applications to improve the overall productivity and operational efficiencies is further estimated to augment the demand for passive and interconnecting components. Furthermore, wearables such as smartwatches, virtual reality (VR) headsets, and fitness bands are gaining popularity among consumers. Also, consumers are spending a massive amount on their health and entertainment. As a result, it has accelerated the demand for aforementioned wearable devices among consumers. This, in turn, is anticipated to surge the adoption of passive and interconnecting electronic components from 2020 to 2027. Additionally, voluminous patient data, coupled with investments made by the governments and private players worldwide for establishing state-of-the-art healthcare facilities, has augmented the adoption of high-tech medical equipment and connected devices. As a result, the demand for passive and interconnecting electronic components is expected to surge globally over the forecast period.

Furthermore, the Covid-19 outbreak has affected the production and trade (imports and exports) in many countries across the globe, therefore, it is anticipated to restrict market growth over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/passive-interconnecting-electronic-components-industry

Further key findings from the report suggest:

In India, the market is expected to exhibit a CAGR of 8.3% from 2020 to 2027, owing to the soaring capital spending by key electronic goods and home appliances manufacturers in view of setting up their manufacturing facilities in the country
The capacitors segment attained the highest market size, approximately USD 30.0 billion in 2019. The significant market size is attributed to the robust rise in the demand for several types of capacitors to be fabricated in numerous electronic devices such as vehicle automation systems, robotics, and consumer electronic devices
Significantly growing deployment of 5G network infrastructure coupled with surging adoption of network devices for data centers is estimated to boost the IT and telecommunication segment during the forecast period
The connectors/sockets segment is anticipated to showcase a considerable growth from 2020 to 2027, owing to its proliferating demand across various applications, including data processing, infotainment, and automation
Various prominent players in the market are strategically focusing on introducing new products to intensify their market share and expand their product portfolios.

GaN Semiconductor Devices Market Size Worth $5.85 Billion By 2027

The global GaN semiconductor devices market size is expected to reach USD 5.85 billion by 2027, registering a CAGR of 19.8% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. The market growth can be attributed to the increasing applications of gallium nitride (GaN) in a wide range of semiconductor devices. Additionally, rapid technological advancements in GaN-based semiconductors are also anticipated to promote market growth. The demand for wireless communication devices, primarily in defense communication, is expected to drive the demand. Gallium nitride technology is being widely implemented in the development of amplifiers used in wireless communication, such as Class E, Class F, and Class C power amplifiers.

Aerospace and defense technology companies such as L3Harris Technologies, Inc.; Northrop Grumman Corporation; and BAE Systems are collaborating with government agencies for incorporating gallium nitride semiconductors in the military and radar applications. For instance, in February 2012, Northrop Grumman Corporation opened its Advanced Technology Laboratory for developing gallium nitride semiconductors for critical military programs. The company, along with the U.S. government, has invested over USD 300 million for developing and integrating GaN semiconductors in military systems for enhancing the capabilities of space, aircraft, and ground defense communication systems. These factors are expected to drive the demand for GaN semiconductors across wireless applications.

In recent years, the demand for gallium nitride semiconductor devices has increased in electric vehicle supply equipment such as onboard charging stations and EV charging kiosks. The lower switching frequency range of GaN devices makes them suitable for use in GaN-based DC-to-DC converters that are used in onboard charging stations, which bodes well for the market growth. Furthermore, the ongoing research and development activities worldwide aimed at the increased adoption of GaN devices in electric vehicles are anticipated to positively impact market growth. For instance, in October 2019, Nagoya University launched an electric car that entirely uses gallium nitride semiconductor devices and named it All GaN Vehicle. This vehicle is 20% more efficient than the current electric vehicles developed using SiC-based devices. On the contrary, the ongoing COVID-19 pandemic has largely impacted the sales and deployment of gallium nitride semiconductor devices in 2020. This impact is further anticipated to be witnessed in the coming years.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/gan-gallium-nitride-semiconductor-devices-market

Further key findings from the report suggest:

The gallium nitride radio frequency devices segment is expected to record the highest CAGR from 2020 to 2027 as a result of the growing demand for these devices in military applications such as Electronic Warfare (EW) systems and Active Electronically-Steered Array (AESA) radars
The power ICs segment is anticipated to record a high CAGR over the forecast period as a result of the increasing demand for power converters used in data centers that run on high-voltage DC power distribution architecture
The 8-inch wafer segment is anticipated to experience high traction owing to the rising use of these wafers in automotive applications such as Infotainment Head Unit (IHU) and Advanced Driver Assistance Systems (ADAS)
The growing popularity of autonomous vehicles is boosting the demand for LiDAR sensors in driverless navigation systems, which is anticipated to be a major factor driving the growth of the automotive segment over the forecast period
Asia Pacific is expected to emerge as the fastest-growing regional segment, owing to the increasing demand for efficient and high-performance RF components and a surge in electric vehicle production in countries such as China, Japan, and South Korea

IPTV Market Size Worth $67.6 Billion By 2027

The global internet protocol television market size is anticipated to reach USD 67.6 billion by 2027, exhibiting a CAGR of 7.1% over the forecast period, according to a new report by Grand View Research, Inc. The integration of Artificial Intelligence (AI) with IPTV is expected to offer lucrative growth opportunities to service providers. AI-based voice-enabled search and discovery function enables users to explore the desired programs using natural language even when users do not know the name of an application. Further, the launch of AI-enabled IPTV set-top-boxes featuring voice assistants is expected to help service providers gain a larger subscriber base over the forecast period.

Advancements in video coding technology also offer significant growth prospects to the IPTV market. Owing to the high network bandwidth requirement of IPTV services, suitable video coding technology enables broadcasters to distribute content in multiple formats efficiently. Video coding has allowed users to access video-based content on diverse platforms such as smartphones and tablets, PCs, and media players, thus ensuring increased market penetration. Advancements in video coding technology have further led to improvements in dynamic encoding style, resolution encoding, and frame rate encoding, which helps in increasing the quality and leverages the resolution and movement, thereby improving user experience.

The advent of 5G technology offers significant growth aspects owing to the increased capability of network slicing and enhanced content distribution networking abilities. 5G technology leveraged Multiple Input Multiple Output (MIMO) and formed beam techniques ensure maximum utilization network, thus providing reduced distortion and greater precision in signal transmission. Furthermore, heavy traffic from cloud-based content libraries can easily be distributed due to the high bandwidth capability of the 5G delivery model, thus offering an impetus to the market growth. Additionally, the ability of the 5G delivery model to provide UHD viewing experience to the users at affordable rates provides a boost to the market growth.

Increased penetration of smart TV and enhanced functionality offered due to the integration of IPTV technology offers impressive market growth opportunities owing to its ability to interconnect with smartphones and tablets. Recent updates by Google Inc. in the distribution of content via set top boxes provide more control to operators, such as start-up, the UI, the application, set-up procedure, and prioritization of content, which is expected to enhance internet protocol television delivery by operators. Furthermore, service providers are offering hybrid IPTVs, which has mitigated the need to implement a separate set top box. Additionally, hybrid IPTVs integrate the functionality of traditional TV services with IPTV, thus featuring enhanced service offerings, which is expected to promote wide-scale adoption of IPTV services.

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https://www.grandviewresearch.com/industry-analysis/internet-protocol-television-iptv-market

Further key findings from the report suggest:

The subscription-based IPTV segment is expected to showcase the fastest growth over the next few years. The growth is attributable to an emerging need amongst individuals to indulge in the ad-free and personalized viewing experience
Growing internet infrastructure development is offering significant prospects to the market growth
Asia Pacific is expected to emerge as the fastest-growing regional market due to the growing penetration of affordable internet-based services and rising acceptance of the internet as a utility

Facial Recognition Market Size Worth $9.93 Billion By 2027

The global facial recognition market size is expected to reach USD 9.93 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 14.5% from 2020 to 2027.

Facial recognition is a contactless biometric solution that is a critical factor contributing to the market growth. Contactless solutions enable easy deployment in consumer devices. It is also very simple and convenient to use, further contributing to rising adoption. Apart from individual identities, the technology has an ability to gather demographic data on crowds; thus, increasing its usability. Such factors are anticipated to drive the growth.

Increasing security needs in government sectors for employee attendance and identification is expected to be a key driver for the facial recognition market over the forecast period. Technology advancements such as cloud-based services and 3D recognition systems are further expected to fuel the overall adoption of facial recognition technology. Rising demand for data security has driven the adoption of technology across various organizations. Increased usage of personal devices as part of the BYOD policy in the IT sector has furthermore contributed to this growth.

Face recognition technology is less prone to security breaches as compared to traditional authorization methods as it requires human in physical form to provide any kind of access, thereby providing high level of security. For instance, In February 2020, Aware, Inc. announced that its software solution, Knomi, had been chosen by several leading banks in Latin America. The software solution aims to enhance the authentication and security for their mobile applications for clients all over the world. Clients will then be able to gain access to using facial recognition and authentication, replacing passwords, by logging onto their mobile banking application.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/facial-recognition-market

Further key findings from the report suggest:

Face recognition is very easy to deploy and implement. It also provides a quick face detection and match process for identification/verification. These factors have substantially contributed to rapid adoption
The facial analytics segment is expected to portray high CAGR of 20.8% over the projected period. Face recognition by using facial analytics provides high accuracy because this technology is relatively insensitive to changes in expression thereby providing accurate results
Asia Pacific is expected to witness significant growth over the forecast period, owing to the rapid adoption of the technology in developing economics
The key facial recognition market players are Aware, Inc.; FacePhi.; NEC Corporation; IDEMIA; TECH5; Onfido; Ayonix Corporation; Gemalto NV; Cognitec Systems GmbH; Precise Biometrics; NtechLab; and Fujitsu

Field Programmable Gate Array Market Size Worth $18.8 Billion By 2027

The global field programmable gate array market size is anticipated to reach USD 18.8 billion by 2027, registering a CAGR of 9.7% over the forecast period, according to a new report by Grand View Research, Inc. The increased adoption of field programmable gate array (FPGA) across networking, data center, and Internet of Things (IoT) is projected to drive the industry growth over the forecast period.

Growing application of the FPGAs in the aerospace and military sector to develop drone systems for flight control, sensor interfacing, and image processing is driving the industry growth. Flash-based field programmable gate arrays are resistant to radiation-induced configuration shocks and also offer efficient functionality at high altitudes. The flash segment is anticipated to witness a substantial growth over the forecast period, owing to their abilities of consuming less power and delivering security, safety, and reliability throughout the design and deployment process.

Companies are largely seen to be leveraging the power of field programmable gate arrays to develop Artificial Intelligence (AI) based solutions for automotive applications. For instance, in June 2018, Xilinx, Inc. collaborated with Daimler AG to help the deep learning professionals from the Mercedes-Benz R&D centers for developing AI algorithms on the Xilinx adaptable acceleration platform. The automotive segment is likely to fully exploit the capacities of the FPGAs for deploying neural networks for intelligent vehicle systems and optimizing battery management, power conversions, and electric motor control systems of the Electric Vehicles (EV) and Hybrid-Electric Vehicles (HEV).

Click the link below:
https://www.grandviewresearch.com/industry-analysis/fpga-market

Further key findings from the report suggest:

The FPGA market is anticipated to witness a noteworthy growth over the forecast period owing to increased usage of FPGAs in EVs, vehicle networking and connectivity, self-driving cars, and automotive infotainment.
The SRAM technology segment is expected to witness significant growth over the forecast period owing to its features including greater logic density, better performance, non-volatility, and its manufacturing simplicity.
The FPGAs used in the consumer electronics sector generated a revenue of over USD 1.0 billion in the year 2019, due to growing adoption of digital displays, televisions, cameras and camcorders, eReaders, and set-top boxes for households.
The Asia Pacific region is expected to witness a substantial growth from 2020 to 2027 due to increase in sale of consumer electronics, especially smartphones, in countries like China and India, and growing number of data centers in the region.
Xilinx, Inc.; Intel Corporation, Microsemi Corporation; Texas Instruments; Lattice Semiconductor Corporation; and Taiwan Semiconductor Manufacturing Company are some of the key players in the FPGA market.

Construction Equipment Market Size Worth $173.0 Billion By 2027

The global construction equipment market size is expected to reach USD 173.0 billion by 2027, expanding at a CAGR of 4.3% over the forecast period, according to a new report by Grand View Research, Inc. Rising construction activities, technological development, automation, and increased importance for incorporating safety features are expected to drive the market. The prominent manufacturers have an increased focus on product development and have identified it as the key strategy to achieve sustainable market progress. The companies have recognized the market shift toward electric mobility and a sustainable future. For instance, in December 2019, Hitachi Construction Machinery Co., Ltd. announced the development of a battery-powered mini excavator.

The demand had earlier witnessed a slowdown owing to sluggish growth of the construction industry and economic conditions. However, the market is expected to grow at a steady growth rate in the upcoming years. The prominent factors contributing to the market growth are growing residential, commercial, and industrial construction activities and increasing private-public partnerships. Customers now prefer renting the equipment rather than spending money on buying them, thus helping them save investments on procurement and maintenance of the equipment. Many companies are entering in the equipment rental business owing to its high profitability. However, in terms of large-scale projects that are time-intensive, the purchase of machinery proves beneficial.

The earthmoving machinery segment accounted for the highest market share of around 64% in 2019. Increasing demand for this equipment from developing countries is driving the growth of this segment. China is considered as a leader in the earthmoving machinery segment. The country faced weak economic conditions in 2019, thus the government actively implemented measures such as tax cuts and boosted the funding for infrastructure activities. These factors acted favorably in securing the market demand for various types of equipment. However, the recent coronavirus outbreak is projected to hamper the growth prospects owing to slow down in production and supply chain problems.

The North American construction equipment market is anticipated to perform positively in 2020, owing to the U.S. government’s keen focus on enhancing the transportation infrastructure. According to the American Road & Transportation Builders Association (ARTBA), the construction activity for parking lots, private highways, driveways, and bridges is estimated to reach a value of approximately USD 72 billion in 2020 and is projected to grow over the next five years. Thus, the development in construction activities is anticipated to drive the market growth in U.S. over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/construction-equipment-market-analysis

Further key findings from the report suggest:

Earth moving machinery emerged as the largest product segment in 2019 and is anticipated to reach more than USD 104.0 billion by 2027
The concrete and road construction machinery segment is expected to register a CAGR of 6.2% over the forecast period
The Asia Pacific region dominated the market in 2019 and is anticipated to expand at a CAGR of 4.9% over the forecast period
The market is highly competitive and relatively concentrated, with the top five companies dominating the market share
The top five key players in the construction equipment market are Caterpillar Inc.; Komatsu; Hitachi Construction Machinery; Liebherr; and Volvo construction equipment

Smart Electricity Meters Market Size Worth $18.9 Billion By 2027

The global smart electricity meters market size is expected to reach USD 18.9 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a revenue-based CAGR of 7.8% from 2020 to 2027. The rising demand for energy security has been prevailing in the energy sector for a long time. Renewable energy generation has sufficed this demand to a certain extent. Still, the energy provided by such systems is intermittent, and thus energy conservation and efficient utilization of power are the key aspects of energy security. Smart meters deliver instantaneous data regarding power consumption that can be analyzed and the consumption can be controlled, stabilizing the energy demands.

These smart systems help the commercial end-use segment considerably as they assist in increasing the energy efficiency by providing real-time pricing and consumption data, which is directly related to the spending of the division. Smart meters are a fundamental component of an intelligent grid network. The smart grids are used to monitor and control the transmission system, which is an enhancement over the conventional electrical network. The initialization of smart grids in various regions is expected to fuel the demand for smart electric metering systems over the forecast period.

Increasing regulatory initiatives for the installation of smart electricity meters in various regions around the globe are likely to spur the market demand over the forecast period. For instance, smart/intelligent electricity metering regulations have been established for the European region, set up by the European Commission and most of the European population have adopted smart electricity meters under this mandate. The benefits of smart meters, such as time-based pricing, net metering, energy prepayment, power quality monitoring, communications with other intelligent devices, and energy theft detection, are encouraging the adoption of smart electricity meters in all countries.

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https://www.grandviewresearch.com/industry-analysis/smart-meters-market

Further key findings from the study suggest:

Growing adoption of smart grids by several regions is anticipated to drive the market growth over the forecast period
The residential segment is expected to hold significant smart electricity meters market share in 2019, owing to the need for customer energy management and flexibility in power load
The commercial end-use segment is expected to witness a considerable growth rate over the projected period owing to growing commercial buildings in urban areas
Europe market is expected to demonstrate substantial growth over the forecast period due to large-scale adoption of smart meters under regulations imposed by the European Commission
The key players in the smart electricity meters market areABB; GENERAL ELECTRIC; Holley Technology LTD.; Elster Group GmbH; Iskraemeco d.d.; Itron Inc.; Landis+Gyr; Schneider Electric, Inc.; and Siemens, among others.

Automotive Electronics Market Size Worth $493.69 Billion By 2027

The global automotive electronics market size is expected to reach USD 493.69 billion by 2027, expanding at a CAGR of 9.0% over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing automotive production across emerging economies, coupled with the growing demand for luxury and hybrid vehicles is anticipated to drive the growth. Additionally, the availability of advanced safety systems with features such as automatic emergency braking, and blind-spot detection at a reduced cost is leading to an increase in the integration of these systems. This, in turn, is also expected to boost the adoption of Engine Control Units (ECUs) and sensors used in these systems, subsequently fueling the market growth.

Moreover, to bring down the number of road accidents, governments are also regulating the use of Advanced Driver-Assistance Systems (ADAS) in vehicles. For instance, the New Car Assessment Program mandates the use of advanced active and passive safety systems, such as automatic emergency braking and lane departure warning, in China, U.S., and Europe. The Indian government also allows the use of certain low-frequency bands that can help automotive manufacturers to use radar-based systems for installing ADAS features in vehicles. Stringent regulations have mandated the deployment of most of the electronic components during vehicle production stage itself, thus linking the automotive electronics demand with the growth in vehicle production. Hence, it resulted in an increase of over 2.5% in the Original Equipment Manufacturer (OEM) segment share between 2019 and 2027.

Furthermore, in European and North American regions, the demand for in-vehicle infotainment systems has gained prominence, thereby supporting the market demand. Infotainment solutions providers are actively participating in consolidating the features, such as in-vehicle infotainment and ADAS, in reducing the overall electronic component count, consequently reducing the vehicle weight. For instance, NVIDIA Corporation announced the launch of the DRIVE CX platform. This platform can be used for infotainment and ADAS solutions, in the autonomous vehicles. However, such consolidation requires high-speed data processing controllers such as 64-bit ECU’s and integration of other advanced hardware and software, which is expected to drive the overall market growth from over the forecast period.

Asia Pacific held a dominant market share in 2019, attributed to the significant investments in the automotive industry, mainly in emerging countries, such as Japan, India, and China. The Make in India campaign is anticipated to draw significant investments toward automotive sector, as India offers benefits such as cheaper raw materials and low-cost labors. Besides, Japan is one of the most technologically advanced nations and has witnessed some recovery in its vehicle production since 2015.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/automotive-electronics-industry

Further key findings from the report suggest:

The current carrying devices segment is expected to hold a dominant market share over the forecast period, owing to the rising demand for convenience, safety features, and connectivity in passenger cars
The safety systems segment is estimated to dominate the market throughout the forecast period owing to increasing consumer awareness pertaining to safety equipment in vehicles
OEM segment dominated the automotive electronics market in 2019 owing to the increased durability and shelf life of electronic components that they offer as compared to the aftermarket components
Asia Pacific is estimated to register the highest CAGR of 9.4% from 2020 to 2027 owing to the increasing vehicle production in emerging countries such as India and China
The key industry competitors include Aptiv PLC, Continental AG, Denso Corporation, Intel Corporation, Robert Bosch GmbH, and ZF Friedrichshafen AG