The Global ATV Electronics System Market was valued at USD 96 Million and it is poised to grow by USD 133.98 million during 2020-2027, progressing at a CAGR of over 3% during the forecast period.
Automotive electronics are electronic systems used in vehicles, including engine management, ignition, radio, carputers, telematics, in-car entertainment systems, and Audio Systems. Ignition, engine and transmission electronics are also found in trucks, motorcycles, off-road vehicles, and other internal combustion powered machinery such as forklifts, tractors and excavators. Related elements for control of relevant electrical systems are also found on hybrid vehicles and electric cars.
TV electronics system market analysis considers sales from the lighting system, advanced electronic systems, audio system, and other electronic systems. Our study also finds the sales of ATV electronics system in APAC, Europe, MEA, North America, and South America. In 2020, the lighting system segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as enhanced visibility and battery life will play a significant role in the lighting system segment to maintain its market position. Also, our global ATV electronics system market report looks at factors such as demand for ATVs across various applications, the launch of new ATV models and the expansion of manufacturing facilities, and increasing demand for electric ATVs. However, legal limitations associated with the use of off-road vehicles, change emission standards for off-road vehicles, and the availability of substitutes for ATVs may hamper the growth of the ATV electronics system industry over the forecast period.