Automotive electronics components are used in automobiles to improve vehicle performance and increase vehicle safety by integrating different safety devices such as airbags and lane management systems. Vehicle electronics components are widely employed in a variety of car components, including electronic fuel injection, entertainment systems, and automotive telematics systems.
Increased sales of hybrid or electric vehicles, as well as the development of self-driving or driverless vehicles, are driving up demand for automotive electronics, or the different components found in automobiles. GPS, cameras, LiDAR, radar, and infotainment systems are among the electronic components used in autonomous cars. For example, according to Coherent Market Insights, global sales of electric vehicles surged by 135 percent in the first quarter of the calendar year 2021, compared to the same period in the previous year. Electric car sales in China were about 500,000 units, and sales in Europe were approximately 450,000, with more predicted to come.
Several industries, including infrastructure, retail, manufacturing, automotive, and others, have been dramatically affected by Covid-19. According to CMI's study 2021, most nations, including India and the United Kingdom, have instituted stringent lockdowns and limited the movement of inhabitants across the country in order to halt the spread of the Covid-19 epidemic.
Covid-19 has had a significant influence on the global automobile sector. Several automotive vehicle manufacturers and automotive component manufacturers have halted the manufacturing of automobiles and automotive components in North America and Europe for several months. Furthermore, the Covid-19 epidemic had a significant influence on the supply chain of raw materials necessary for automotive component manufacture.