Global automotive electronics market to grow by 50% by 2020, forecasts IMS

IMS Research finds the global market for automotive electronics is set to rise to $240 billion in 2020, up more than 50 percent from $157 billion in 2010, driven to new levels of prominence by government and automaker safety initiatives. “The massive growth of automotive electronics in the space of a decade reflects the field’s rising importance to the car industry at large, especially as original equipment manufacturers ratify in-vehicle electronics to be an essential selling feature for an automobile,” said, Ben Scott, automotive analyst for IHS. The below figure presents the IHS forecast of global automotive electronics revenue. All told, the size of the market is even more impressive than a cursory view would reveal, as the overall figures actually exclude the burgeoning infotainment segment.
The other research comments and analytical findings shared by IMS includes: Government safety mandates represent a major factor driving the growth of automotive electronics revenue. Here legislated systems including electronic stability control (ESC) and tyre pressure monitoring systems (TPMS) come into play, both of which require significant electronic content. Also serving as an engine of market growth is the effort among automakers to add advanced driver ass...