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According to the recent market study by Technavio, the Automotive Technologies Market Size is expected to increase by USD 134.06 billion from 2020 to 2025. However, the growth momentum in the market is expected to decelerate at a CAGR of 11.04%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth rate, occupying 53% of the global market share. China, Japan, and South Korea (Republic of Korea) are the key markets for automotive technologies in APAC. However, the market growth in this region will be faster than the growth of the market in other regions.
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The automotive technologies market is fragmented with the presence of several regional and international players. Major players are increasing their footprint in the market by expanding their operations. This has increased competition in the market, which is driving small vendors in the market to focus on introducing technologically advanced products and forming strategic alliances with other players.
Continental AG: The company offers various sensors like cameras, lidar, radar, and control units that provide the necessary information for highly automated driving.
DENSO Corp.: The company offers various electronic platforms, port terrain systems, and others.
HELLA GmbH and Co. KGaA: The company offers a range of vehicle electronics solutions such as LED headlamps, intelligent battery sensors for efficient energy management, lane change assistant, and others.
Intel Corp.: The company offers various technologies for the automotive industry such as autonomous driving, in-vehicle experience, functional safety and electric motor controls, power conversion, and battery management systems for electric vehicles.
NVIDIA Corp.: The company offers various automotive technologies such as ADAS, automated driving, in-vehicle experience, ADAS, and others.
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Regional Market Outlook
The automotive technologies market growth in APAC will be significant during the forecast period. The increasing sales of automobiles and the rising demand for electronics-based driving comfort and safety systems will be crucial in driving the growth of the automotive technologies market in APAC. The report also offers detailed insights into the growth of the market across other regions such as Europe, MEA, North America, and South America. Countries such as the US and Germany are identified as prominent markets for automotive technologies.