India's Automotive Electronics Market to Reach $19B by 2030

The global automotive electronics market is projected to reach USD 500 billion by 2030, with India alone expected to contribute USD 19 billion. This area is becoming increasingly significant as the automotive industry transitions from traditional mechanical systems to more sophisticated electronic and software solutions, particularly with the growth of electric vehicles (EVs) which demand significantly more electronic components compared to internal combustion engines (ICE). Investment in various powertrain systems including hydrogen and hybrid technologies is also forecasted to reach USD 400 billion by 2040, supporting sustainability goals.

This shift indicates a strategic move in enhancing the domestic capabilities of the automotive sector, reflected in the substantial investments directed towards semiconductor technologies and other electronic subsystems. As India positions itself in this evolving market, the emphasis on establishing a self-reliant automotive electronics landscape could reduce dependency on foreign technology and promote national technological sovereignty. The forthcoming Electronics and Powertrain Summit aims to guide these technological advancements, enabling industry leaders to make informed decisions aligned with broader sustainability initiatives.