Indian auto electronics market estimated to touch $70 billion by 2032

Safety controls have the highest demand in the country, accounting for 49% of total demand in 2022 followed by power electronics at 32%

Globally, the share of auto-electronic parts in any vehicle is growing due to multiple factors. The global market for automotive electronics is poised to grow at a CAGR of 8–10 per cent to reach USD 540–650 billion in 2032 from USD 250 billion in 2022.

As vehicles incorporate more electronics across multiple areas, OEMs are expected to account for nearly 70 - 75 per cent of the market as most electronics are likely to be factory fitted.
 

The Grant Thornton-ACMA report titled Auto Electronics Manufacturing: Conquering the Next Frontier said that the Indian automotive electronics market currently is estimated