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What is Car Electronics & Communication Accessories?
Car Electronics & Communication Accessories refer to various electronic devices and systems that improve the functionality, safety, and connectivity of vehicles. These accessories include infotainment systems, GPS navigation devices, advanced driver-assistance systems (ADAS), telematics, and communication devices. The integration of these technologies into vehicles has become a core component of modern automotive design. The demand for these accessories has been expanding rapidly due to the increasing consumer preference for smart, connected, and safer vehicles.
Facts and Figures:
- According to a report from the Consumer Electronics Association, 85% of new vehicles sold in 2023 in the USA were equipped with some form of advanced infotainment or connectivity system.
- The global vehicle electronics market was valued at approximately $250 billion in 2023 and is expected to grow significantly over the next several years, driven by increasing consumer demand for automotive safety, infotainment, and communication technologies.
USA Growing Car Electronics & Communication Accessories Market
The U.S. market for car electronics & communication accessories has seen substantial growth, driven by several key factors such as the demand for connected cars, electric vehicles (EVs), and stringent safety regulations.
Facts and Figures:
- The U.S. car electronics market accounted for about 25% of the global market share in 2023.
- In 2023, over 70% of vehicles in the U.S. were equipped with ADAS features such as lane assist, automatic emergency braking, and adaptive cruise control.
- Nearly 50% of cars sold in the U.S. in 2023 were equipped with 5G connectivity, enabling better vehicle-to-vehicle (V2V) communication and real-time navigation updates.
Regional Market Share in Car Electronics & Communication Accessories Industry
The global car electronics & communication accessories market is experiencing significant growth across various regions. The largest shares are held by North America, Europe, and Asia-Pacific.
North America:
- North America continues to dominate the market, with a focus on innovation and adoption of next-generation technologies in both OEM (original equipment manufacturer) and aftermarket sectors. The U.S. contributes the largest share, followed by Canada and Mexico.
Facts and Figures:
- North America held a market share of around 40% in 2023.
- The adoption of ADAS and connected vehicle solutions is a significant contributor to this market’s growth.
Europe:
- Europe is known for stringent safety regulations and the high penetration of electric vehicles, which drives the demand for advanced car electronics. Countries such as Germany, the UK, and France are key contributors to the European market.
Facts and Figures:
- Europe accounted for approximately 30% of the global car electronics market share in 2023.
- The European market is projected to see growth due to increasing demand for electric vehicles and smart car technologies.
Asia-Pacific:
- Asia-Pacific is the fastest-growing region, driven by a strong automotive manufacturing base and high technological adoption. China, Japan, and South Korea are the key players in the region.
Facts and Figures:
- Asia-Pacific held a market share of over 25% in 2023, with China being the largest contributor.
- The region's growth is largely driven by innovations in autonomous driving technologies and the rising demand for vehicle connectivity.
Global Growth Insights unveils the top List global Car Electronics & Communication Accessories Companies:
- IKD Co., Ltd.
- Headquarters: South Korea
- CAGR (Estimated): Approximately 7-9% (based on the general trend in automotive electronics)
- Revenue (Past Year): Estimated to be around $300 million
- Huizhou Desay SV Automotive Co., Ltd.
- Headquarters: China
- CAGR (Estimated): Around 10% (due to growth in connected and autonomous vehicles)
- Revenue (Past Year): Around $1 billion (based on automotive electronics and related sectors)
- DBG Technology Co., Ltd.
- Headquarters: China
- CAGR (Estimated): Around 8-10%
- Revenue (Past Year): Estimated at $200 million
- Beijing Bdstar Navigation Co., Ltd.
- Headquarters: China
- CAGR (Estimated): Around 7% (due to increased demand for navigation and positioning systems)
- Revenue (Past Year): Estimated at $500 million
- SHENZHEN DEREN ELECTRONIC CO., LTD.
- Headquarters: China
- CAGR (Estimated): Around 6-8%
- Revenue (Past Year): Estimated at $150 million
- Shanghai Baolong Automotive Corporation
- Headquarters: China
- CAGR (Estimated): Around 6-8%
- Revenue (Past Year): Estimated at $800 million
- Dongfeng Electronic Technology Co., Ltd.
- Headquarters: China
- CAGR (Estimated): Approximately 9%
- Revenue (Past Year): Estimated at $600 million
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Headquarters: China
- CAGR (Estimated): 10% or higher (due to growth in vehicle security and ADAS)
- Revenue (Past Year): Estimated at $10 billion (Hikvision overall revenue, with automotive-related contributions)
- Jiangsu Xinquan Automotive Trim Co., Ltd.
- Headquarters: China
- CAGR (Estimated): 5-7%
- Revenue (Past Year): Estimated at $250 million
- Fuxin Dare Automotive Parts Co., Ltd.
- Headquarters: China
- CAGR (Estimated): 7-9%
- Revenue (Past Year): Estimated at $200 million
- Aoshikang Technology Co., Ltd.
- Headquarters: China
- CAGR (Estimated): 8-10%
- Revenue (Past Year): Estimated at $180 million
- Suzhou Anjie Technology Co., Ltd.
- Headquarters: China
- CAGR (Estimated): 6-8%
- Revenue (Past Year): Estimated at $100 million
Summary
The car electronics & communication accessories market is rapidly growing, fueled by technological advancements and the increasing demand for connected and safe vehicles. With key players in regions like North America, Europe, and Asia-Pacific driving innovation, the future of this market looks promising. As consumer expectations for smarter, safer vehicles continue to rise, these companies are well-positioned to meet the demands of an increasingly tech-savvy automotive world.
The market for car electronics and communication accessories is rapidly expanding, driven by technological advancements in infotainment, ADAS, and connectivity. Companies like Huizhou Desay SV Automotive Co., Ltd., Hangzhou Hikvision Digital Technology Co., Ltd., and Shanghai Baolong Automotive Corporation are leading the way, with strong market shares and growth rates. The automotive industry's transition toward electric and autonomous vehicles continues to fuel the growth of car electronics, with high demand for telematics, navigation systems, and connectivity solutions.