Automotive Technologies Market by Component and Geography - Forecast and Analysis 2022-2026

The automotive technologies market share is expected to increase to USD 151.8 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 10.68%.

This automotive technologies market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive technologies market segmentation by component (hardware, software, and services) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The automotive technologies market report also offers information on several market vendors, including 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 among others.

What will the Automotive Technologies Market Size be During the Forecast Period?

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"China, Japan, South Korea, and India are the key countries that are expected to drive the growth of the connected car market in APAC during the forecast period"

Automotive Technologies Market: Key Drivers, Trends, and Challenges

The rising adoption of adas features in vehicles is notably driving the automotive technologies market growth, although factors such as lack of standard protocols may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive technologies industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Technologies Market Driver

• The rising adoption of ADAS features in vehicles is one of the key drivers supporting the automotive technologies market growth.
• The rapid adoption of software algorithms, processors, sensors, cameras, and advanced technologies in mapping obstacles has improved the applications of ADAS in vehicles.
• Governments in developing countries have imposed stringent safety norms on automotive manufacturers to develop vehicles equipped with ADAS features amid growing concern regarding the security and safety of passengers.
• On August 31, 2021, the Government of India made it mandatory to equip a Co-driver airbag in all vehicle segments. Similarly, in 2015, the European Commission made it mandatory to install an e-call system in all new vehicles from April 2018, which is one of the most vital features among the latest automotive technologies. Such instances may drive market growth during the forecast period.

Key Automotive Technologies Market Trend

• Increasing developments in semi-autonomous and autonomous vehicles is one of the key automotive technologies market trends contributing to the market growth.
• An autonomous vehicle is also known as a driverless car or self-driving car and has the ability to read and sense the environment and operate with minimal or no human intervention. 
• Self-driving cars have become a major revolution in automation and connectivity technologies. Furthermore, computers, the internet, smartphones, and advanced technologies are being merged with vehicles to assist and automate driving operations. 
• Rapid improvement in sensor-processing technologies, high-definition mapping, adaptive algorithms, as well as the deployment of infrastructure-to-vehicle and vehicle-to-vehicle communication technologies are propelling several companies to expand their production capacities and take vehicle automation to a higher level.
• Increasing automated vehicle travel is likely to reduce vehicle operating costs, increase travel convenience and comfort, as well as encourage longer-distance commutes, which is expected to propel the market growth during the forecast period.

Key Automotive Technologies Market Challenge

• The lack of standard protocols is one of the factors hampering the automotive technologies market growth.
• The burden of numerous regulations impacts both new and existing products. Many governmental standards govern the production of automobiles by regulating engineers' and designers' creativity.  The key role of these standards is to increase driver and passenger safety, both on the road and against thefts.
• The regulations control the environmental impact of vehicles. Each country or region has its own regulations. This implies that car companies should adapt their production standards to distribute their products in different markets around the world. 
• The changing protocols in each country cause financial losses to the manufacturers as they need to set up different assembly units. Such losses may hamper the market growth during the forecast period.

This automotive technologies market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global automotive technologies market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive technologies market during the forecast period.

Market Overview

The global automotive components and accessories market covers companies engaged in the production of parts and accessories for automobiles like passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. Growth in the global automotive components and accessories market will be driven by the following factors:  Increase in electronic components in automobiles: The electronic components and the electronic control units (ECUs) used to control these components in automobiles have seen a significant increase in the past decade. 

Who are the Major Automotive Technologies Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• 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.
• ZF Friedrichshafen AG

This statistical study of the automotive technologies market encompasses successful business strategies deployed by the key vendors. The automotive technologies market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Amd.com - 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.com - The company offers automotive technologies such as drum brakes, LiDAR, ultrasonic parking sensors, 3D displays, motion control, and remote garage parking.
• Denso.com - The company offers automotive technologies such as air conditioning systems, power train systems, safety and cockpit system, and service stations.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive technologies market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Technologies Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive technologies market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Automotive Technologies Market?

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49% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea are the key markets for the automotive technologies market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing adoption of telematics solutions and connected infotainment will facilitate the automotive technologies market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The automotive industry in APAC was adversely impacted in 2020 due to the COVID-19 pandemic. However, automobile manufacturing is expected to recover with the growing investment in EVs in the region. Companies have been increasing their sales and investing in EV production with supportive government initiatives. Thus, it is anticipated that uncertainty in the automotive industry may cause slow growth of the market in focus during the forecast period.

What are the Revenue-generating Component Segments in the Automotive Technologies Market?

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The automotive technologies market share growth by the hardware segment will be significant during the forecast period. The main function of the computer hardware component in the car is to monitor the car engine and adjust the engine to keep the emissions as low as possible. There are different kinds of sensors in cars to transmit information. Moreover, manufacturers are focusing on developing compact computer hardware components that are highly efficient and occupy less space. These factors are expected to maintain the dominance of the hardware segment over the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive technologies market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Automotive Technologies Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive automotive technologies market growth during the next five years
• Precise estimation of the automotive technologies market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the automotive technologies industry across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of automotive technologies market vendors

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