U.S. Automotive Electronics Market Size & Outlook
U.S. automotive electronics market, 2018-2030 (US$M)
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U.S. automotive electronics market highlights
- The U.S. automotive electronics market generated a revenue of USD 45,188.9 million in 2023 and is expected to reach USD 84,270.7 million by 2030.
- The U.S. market is expected to grow at a CAGR of 9.3% from 2024 to 2030.
- In terms of segment, current carrying devices was the largest revenue generating component in 2023.
- Sensors is the most lucrative component segment registering the fastest growth during the forecast period.
Automotive electronics market data book summary
| Market revenue in 2023 | USD 45,188.9 million |
| Market revenue in 2030 | USD 84,270.7 million |
| Growth rate | 9.3% (CAGR from 2023 to 2030) |
| Largest segment | Current carrying devices |
| Fastest growing segment | Sensors |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electronic Control Units, Sensors, Current Carrying Devices |
| Key market players worldwide | Continental AG, Denso Corp, HELLA GmbH & Co KGaA, Hitachi Ltd, Infineon Technologies AG, Robert Bosch Engineering & Business Solutions, Valeo SA, Visteon Corp, Advanced Micro Devices Inc |
Other key industry trends
- In terms of revenue, U.S. accounted for 17.2% of the global automotive electronics market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. automotive electronics market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 84,270.7 million by 2030.
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Automotive Electronics Market Scope
Automotive Electronics Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. automotive electronics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to automotive electronics market will help companies and investors design strategic landscapes.
Current carrying devices was the largest segment with a revenue share of 40.67% in 2023. Horizon Databook has segmented the U.S. automotive electronics market based on electronic control units, sensors, current carrying devices covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. automotive industry is experiencing a shift towards connected cars, which are vehicles that are equipped with Internet access and the ability to communicate with other devices, including smartphones, other cars, and even infrastructure.
This trend is driving the growth of automotive electronics, as connected cars require sophisticated electronic systems to enable connectivity. For instance, according to the data by CUJOAI, Ford and Tesla provided huge number of connected cars to consumer homes globally from 2021 to 2022.
The shift towards electric vehicles is also driving the growth of automotive electronics in the U.S. Electric vehicles require sophisticated electronic systems to manage battery power, electric powertrains, and regenerative braking systems.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. automotive electronics market , including forecasts for subscribers. This country databook contains high-level insights into U.S. automotive electronics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. automotive electronics market outlook size, by component, 2018-2030 (US$M)
U.S. Automotive Electronics Market Outlook Share, 2023 & 2030 (US$M)
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