Tuesday, May 5, 2020 9:30 AM
Proliferation of the Internet of Things (IoT), artificial intelligence (AI), machine learning (ML), and internet connectivity propel the demand for automotive electronics.
ROCKVILLE, MD / ACCESSWIRE / May 5, 2020 / The global automotive electronics market will grow at a robust 8.5% CAGR during the forecast period (2019-2029). Automotive manufacturers are adopting enhanced features such as GPS, electric windows, and seat recliners to differentiate their products. These features are based on high-performance electrical circuits which drives the demand for electronic components. Surge in demand for electric vehicles among industries and consumers both contribute significantly to the demand for automotive electronics. Advancements in automotive technology warrants employing automotive electronics to successfully deliver innovative features.
“Penetration of electric vehicles in developing regions such as East Asia and South Asia & Oceania offers financially rewarding opportunities to market players.” opines a Fact.MR study.
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