The global automotive electronic control unit market size is projected to be worth around US$ 92.90 billion by 2027 according to new study by Precedence Research
OTTAWA, Oct. 01, 2020 (GLOBE NEWSWIRE) -- The global automotive electronic control unit market size was valued at USD 66.33 Billion in 2019 and growing at a compound annual growth rate (CAGR) of 4.3% during the forecast period 2020 to 2027. Read more details @ https://www.precedenceresearch.com/automotive-electronic-control-unit-market
Automotive Electronic Control Unit (ECU) is the most crucial part of an automobile. It belongs to the family of computer systems that maintains and controls the complete electronic, mechanical and electrical systems of a vehicle. ECU can be categorized on the basis of functions including Body Control Module (BCM), Engine Control Module (ECM), Powertrain Control Module (PCM), General Electric Module (GEM), Electronic Brake Control Module (EBCM), Suspension Control Module (SCM), Transmission Control Module (PCM), Battery Management System (BMS), Door Control Unit (DCM), and others. Various automotive functions that range from the window’s movement to the engine cylinder has an ECU system that is embedded within the system to record, analyze, and store the information in the microcontroller. Further, technological advancements in automotive industry has triggered the implementation of complex and advanced ECUs in a vehicle.
Get the Sample Pages of Report for More Understanding @ https://www.precedenceresearch.com/sample/1041
Hence implementation of large number of ECUs in the vehicle reduces its efficiency; therefore automotive giants are collaborating with the ECU manufacturers to consolidate the ECUs without hampering their performance. Henceforth, awareness among the people for reducing fuel consumption and enhancing its overall performance triggered the substantial growth of electric and hybrid vehicles. Furthermore, regulatory bodies of different nations have issued strict regulations for road safety and fuel emission. For instance, China and the European Commission launched the New Car Assessment Program (NCAP) that made the use of automatic emergency braking along with lane departure warning systems mandatory, thereby ensuring large-scale deployment of active safety systems.
The Asia Pacific emerged as the most promising region in the global automotive ECU market. The region led the overall market accounting a revenue share of approximately 56% and registered the fastest growth over the forecast period. The significant growth of the region is primarily due to increasing awareness for battery-powered vehicles along with stringent government norms to drive the green mobility solution in the region. This helps the government of Asian countries to reduce the carbon footprint and enhance the air quality. Advanced and smart mobility incorporate advanced ECUs in the vehicle that can control more than one hardware function at a time. This also helps in reducing the total number ECUs used in the vehicle, thereby reducing the vehicle weight that improves the fuel efficiency and performance of the vehicle.
Full Report is Ready and Can be dispatched you immediately | Buy this Premium Research Report, Click Here @ https://www.precedenceresearch.com/checkout/1041
The Asia Pacific emerged as the dominant region in the global automotive ECU market accounting a revenue share of over 55% in the year 2019. Further, the region registered the fastest growth during the forecast period. The prominent growth of the region mainly attributed to rising trend of advanced and smart vehicles across the region. In addition, increasing purchasing power along with ever growing population in the region are the other most attractive factors that significantly drives the market growth.
Internal Combustion Engine (ICE) vehicles led the global automotive electronic control unit (ECU) market with significant revenue share proportion in the year 2019, accounting for nearly 96%. Additionally, the segment projected to continue its dominance in the overall automotive ECU market over the forecast period. However, battery-powered vehicle encountered the fastest growth in the coming years.
Passenger cars are the dominating vehicle type segment that contributed the major revenue portion of the global automotive ECUU market that accounted for more than 87% in the year 2019. A shift in consumer preference for hybrid and luxury vehicles with advanced safety and electronic features likely to influence the market growth for passenger cars.
By application, ADAS & Safety System led the global automotive ECU market with revenue share of around 34% in the year 2019. Increasing number of accidents on-road along with mandatory government circulars for the implementation of advanced driver safety systems in the vehicle propels the growth
Key Players & Strategies
The global automotive ECU market offers high competition among the industry participants owing to increasing demand for advanced ECUs for smart and hybrid vehicles. Further, government regulation for the adoption of electric and battery-powered vehicles has prominently triggered the advanced ECU demand. To strengthen their position in the market, industry players are investing significantly for the technological as well as product development. Other strategies adopted by the market players are collaboration and strategic alliance with the other automotive electronic component manufacturers, this help the industry players in cementing their foothold in the market.
Some of the significant performers operating in the market include ZF Friedrichshafen AG, Robert Bosch GmbH, Continental AG, Denso Corporation, and Delphi Technologies among others.
By Propulsion Type
Internal Combustion Engine (ICE)
By Vehicle Type
ADAS & Safety Systems
By Regional Outlook
Rest of the World
Get Customization on this Research Report @ https://www.precedenceresearch.com/customization/1041
Full Report is Ready | Buy this Premium Research Report @ https://www.precedenceresearch.com/checkout/1041
You can place an order or ask any questions, please feel free to contact at email@example.com | +1 774 402 6168
Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
For Latest Update Follow Us: