If you want to get in on a burgeoning market, check out automotive electronics. The Freedonia Group research company says that automotive's worldwide total will go from 2002's $75.3 billion to $105.9 billion in 2007. That's a jump of 7% each year, outpacing vehicle production itself. In North America, that figure will rise from $24.9 billion in 2002 to $34.6 billion in 2007 for a similar 6.8% rate.
Increases in per vehicle electronic content will drive this growth, as manufacturers substitute older mechanical systems with newer electronics. In fact, electronic engine controls, transmissions, and fuel injection systems are maturing as electronic technologies in the three key markets of North America, Western Europe, and Japan.
Consumer demand for safety, entertainment, and communications systems will be important as well. While consumers haven't splurged on the latest electronic systems, like navigation and telematics, there is a visible market need for increased functionality without increased prices. So, OEMs are turning to advanced software packages that improve hardware functionality without passing those costs to the consumer. Steady advances in light vehicle production will be a key growth factor as well.
For more information, go to www.freedoiagroup.com.