Abstract

The automotive market in 2024 is undergoing a transformative phase, characterized by the rapid growth of the electric vehicle (EV) market and the increasing maturity of smart vehicle technologies. The global automotive industry is advancing towards greener and smarter development. Meanwhile, as demand for internal combustion engine vehicles declines, international Tier 1 automotive suppliers are accelerating investments in EV technologies and Advanced Driver Assistance Systems (ADAS) to stay competitive. This report explores the industry’s shift toward electrification and smart technologies, focusing on how leading Tier 1 automotive suppliers—including Bosch, Continental, Aptiv, ZF, Denso, Hyundai Mobis, Magna, and Valeo—are navigating these changes through ADAS product strategies and by reinforcing partnerships with Original Equipment Manufacturers (OEMs) and several high-tech companies.