Automotive Electronics Market Share

Automotive Electronics Market Share

The automotive electronics industry is highly competitive with players in the market competing with the introduction of new technologies related to the increase in safety features and customized experience in the cars. The market is fragmented in nature. The top 5 players are Continental AG, ZF Friedrichshafen AG, Aisin Corporation, Denso Corporation, and Magna International which together constitute 54% of market share. Between 2022 and 2023, Continental AG's revenue increased approximately 5.1% from 2022 to 2023, indicating a potential growth rate, especially in automotive electronics section. However, ZF Friedrichshafen AG’s overall revenue grew more than 6%, recorded a with a significant positive growth rate for the automotive electronics market.
 

The market witness collaboration, joint venture leading to the development of automotive systems. There is new technological development that is shaping the change in preferences of the consumers in the market. The competition in the automotive electronics is growing and the organization are captivating on this through increasing their investments in the automotive electronics market. For instance, in February 2023 Magna invested USD 470 million to expand its operation in Canda.
 

The collaboration between Denso corporation and Onsemi in December 2024 for the procurement of ADAS technologies shows the market companies are focusing on joint operation to remain competitive in the market. With the autonomous driving features developing the organization are making attempts to leverage their expertise and develop solution that are safer for the end users in the market.
 

The true potential of the market lies in the development of the automotive system which caters the rising need of the consumers about systems such as Adaptive Cruise Control (ACC) or developing solutions for the connected cars. The companies that are providing solution for safety systems along with meeting the sustainable requirements are set to progress in the market.
 

Automotive Electronics Market Companies

Top 5 companies operating in the automotive electronics industry include:

• Continental AG
• ZF Friedrichshafen AG
• Aisin Corporation
• Denso Corporation
• Magna International, Inc.
   

Continental AG has a significant position with a market share of 16% of the market. Continental AG revenue for the year 2023 was USD 44,827.4 million. The company has been at the forefront of delivering solution that enhances the electric mobility solution such as braking system. The company also formed partnership that would help the organization to develop the exiting technology. The company is also expanding its aftermarket product ranges such as camera and radar sensors for assisting the driving.
 

In January 2024, Continental Engineering Services partnered with Sibros to deliver customized technologies in the automotive market. The partnership brings the Sibros deep connected platform to IoT gateway of Continental Engineering Services. This enables the smooth integration of vehicles to cloud connectivity and efficient data management.
 

ZF is investing in areas such as electromobility, vehicle motion control, automated driving and integrated safety. ZF relies mainly on the digitalization, and it has expanded its Vehicle Motion Control (VMC) for commercial vehicles. The system used by the company is integration of hardware, software and system engineering services which enables to automate the vehicle motion control management.