Automotive Electronics Market Space Exceeds One Trillion, Technological Innovation Dominates
On August 28th, Automotive World China 2019 Automotive Electronics Technology Exhibition was held in Shenzhen Convention and Exhibition Center. Affected by 5G and artificial intelligence, new forces, new hotspots and new technologies in the automotive electronics industry are emerging. It is expected that the automotive electronics industry will become another important development opportunity at the entire industry chain level following household appliances, personal computers and mobile phones.
Currently, 70% of automotive innovation comes from automotive electronics. The cost of electronics has grown from 2% in the 1970s to around 25% today and will continue to grow in the future. According to the “2019-2025 China Automotive Electronics Industry Market Operation and Investment Strategy Consultation Report” issued by Zhiyan Consulting, the scale of China's automotive electronics market will exceed US$87 billion in 2006, equivalent to RMB600 billion. . It is estimated that by 2020, China's automotive electronics market is expected to reach 100 billion US dollars, close to 700 billion yuan, and the annual growth rate from 2018 to 2020 is about 10% per year.
With the improvement of automobile electronic rate and the rise of new energy vehicles, since 2017, the national top-level design policy for automotive electronics has been deeply introduced, and the development of the industry has been continuously promoted. The demand in the domestic market is also playing an important role in the new round of automotive electronics technology revolution, which will help the rapid development of domestic industrial chain related enterprises. In the increasingly fierce market competition, technological innovation has become an important motive for automotive electronics listed companies.