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Automotive Body Electronics and Electrical Market: Introduction

  • Automotive body electronics and electrical products are integrated to reduce the effort of humans in driving and maintaining the vehicle. These components perform definite functions such as monitoring and controlling vehicle performance, communication between vehicle and driver or others, enhancing in-cabin comfort and convenience, provide vehicle security from theft, and many such other functions.
  • Rise in awareness about better safety, comfort, and convenience has boosted the demand for automotive body electronics and electrical products and subsequently fueled the automotive body electronics and electrical market

Key Drivers of Automotive Body Electronics and Electrical Market

  • Automakers are constantly evolving their vehicle models due to changing customer demand, with higher focus on the comfort, safety, and convenience. Growing technological advancements in the automotive sector have led to the emergence of next-generation vehicles that are integrated with advanced drive assist system, lane departure warning system, airbag system, and numerous other systems that have a high number of electronic and electrical products integrated per vehicle. Automakers are also equipping their vehicles with latest connectivity technologies, such as Internet of Things (IoT), LTE, GPRS, and radio connectivity, to monitor and collect information related to the vehicle’s performance. This integration of technology enables vehicle owners to track operational efficiency of their vehicle and ensure its safety. These technologies are also being employed to ensure safety of the vehicle from theft by tracking the vehicle and remotely shutting it. Thus, on-going advancements in vehicles in order to cater to changing customer demands are driving the automotive body electronics and electrical market across the globe.
  • Consistent rise in pace of industrialization and trade activities across the globe is boosting the number of on-road commercial vehicles significantly. Moreover, a rise in per capita income has increased the number of on-road passenger vehicles. Rising rate of motorization has boosted pollution levels; consequently, transportation regulatory agencies have introduced stringent emission norms. Automakers have adopted a strategy of powertrain electrification in order to comply with these guidelines enacted by governments. Automobile OEMs have introduced various full electric or hybrid electric vehicle models that have multiple electronic and electrical components mounted along the powertrain. Government agencies have also issued incentives and policies to promote adoption of these vehicles. Availability of multiple vehicle models, subsidy on purchase, and lower operating cost are driving sales of these electric vehicles and consequently, boosting the global automotive body electronics and electrical market.

Restrains in Automotive Body Electronics and Electrical Market

  • Integration of electronics and electrical products increases the cost of the vehicle and hence, these components are extensively integrated in premium and luxury variants. Furthermore, integration of these electronic products, which provides the vehicle access to various connectivity networks, makes the vehicle more vulnerable to data threats. These factors restrain the global automotive body electronics and electrical market.

Impact of COVID-19 Pandemic on Automotive Body Electronics and Electrical Market

  • The recent outbreak of COVID-19 disrupted automotive supply chains and hampered the sale of vehicles across the globe. This pandemic caused a severe shortage of electronic chips across the globe, which has hampered the production of automobiles. Numerous automakers have announced the cancellation of production various vehicle models due to this shortage, which is estimated to cost the global automotive industry more than US$ 100 billion and slowdown the recovery of automotive sector after the pandemic. This has negatively impacted the global automotive body electronics and electrical market.

Europe and North America to Hold Significant Share of Global Automotive Body Electronics and Electrical Market

  • Asia Pacific accounts for a significant share of the global automotive body electronics and electrical market due to a well-established and expanding automotive industry in the region. Countries such as China, Japan, India, and South Korea are leading automobile manufacturers, which contribute to more than 35% of the total global automobile production. This further boosts the demand for automotive body electronics and electrical components in Asia Pacific. Moreover, governments in the region have mandated integration of certain electronic devices such as TPMS and OBD devices. These regulations augment the automotive body electronics and electrical market in Asia Pacific.

Key Players Operating in Automotive Body Electronics and Electrical Market

The global automotive body electronics and electrical market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the automotive body electronics and electrical market are:

  • Continental AG
  • Cypress Semiconductor
  • Denso Corporation
  • Fujitsu Semiconductor
  • Hitachi, Ltd.
  • Hyundai Mobis
  • Infineon Technologies
  • NXP Semiconductors
  • OnStar Corporation
  • Renesas Technology Corp
  • Robert Bosch
  • STMicroelectronics
  • Texas Instruments

Global Automotive Body Electronics and Electrical Market: Research Scope

Global Automotive Body Electronics and Electrical Market, by Application

  • Vehicle Security
  • Vehicle Communication
  • Vehicle Monitoring & Control
  • Cabin Comfort & Convenience
  • Fleet Management
  • Others

Global Automotive Body Electronics and Electrical Market, by Component

  • MCU
  • ICs
  • Sensors
  • DC-DC converters
  • Trackers
  • Others

Global Automotive Body Electronics and Electrical Market, by Vehicle Type

  • Passenger Vehicle
  • Hatchback
  • Sedan
  • Utility Vehicle
  • Light Commercial Vehicle
  • Trucks
  • Buses & Coaches

Global Automotive Body Electronics and Electrical Market, by Propulsion

  • I.C. Engine Vehicles
  • Electric Vehicles
  • Hybrid Electric Vehicles
  • Plug-in Electric Vehicles
  • Battery Electric Vehicles

Global Automotive Body Electronics and Electrical Market, by Sales Channel

  • OEM
  • Aftermarket

Global Automotive Body Electronics and Electrical Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Nordic Region
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Automotive Body Electronics And Electrical Market

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