Key market participants compiled in the report “Global Automotive Electronic Control Unit (ECU) Market” Research Report by Research Nester include SAP SE, Autoliv Inc., BorgWarner Inc., Continental AG, Panasonic Corporation, Accenture PLC, DENSO Corporation, Tomtom International B.V., Mitsubishi Electric Corp., Robert Bosch GmbH, and others.
New York, July 29, 2022 (GLOBE NEWSWIRE) -- According to recent statistics car ownership is rising globally. In the US alone, despite the pandemic, car sales spiked by over 5% in 2021. Additionally, according to the Malaysian Automotive Association (MAA) affirmed that vehicular sales in the country saw over 33% increase in June 2022 from the corresponding period of 2021, of which passenger vehicle sales reached 57063 units as of June 2022. These developments are significant towards major expansion in the global automotive electronic control unit (ECU) market. Global automotive electronic control unit (ECU) market is progressing at a significant CAGR throughout the forecast tenure, 2022-2031. Multi-purpose automotive ECUs that can oversee several functions simultaneously during a drive, such as advanced speed control, temperature control, and infotainment access among others, besides the crucial safety management are fueling overall growth. Technological influx is also replicating extravagant growth in the global automotive electronic control unit (ECU) market. Innovations such as AI, ML are improving wireless communication for vehicles aligning with the smart automobile industry boom. Internet of Vehicles (IoV) technology is evolving owing to the strides in smart automobile industry. IoV enables seamless communication between public network and vehicles, besides facilitating interaction with the surroundings. This allows vehicles to get real time insights about other vehicles in the vicinity as well as roads, thus ensuring improved and safe driving experience and optimum traffic management. Factors as such are poised to improve consumer adoption for automotive electronic control unit (ECU).
Research Nester has published its latest in-depth market report on ‘Global Automotive Electronic Control Unit (ECU) Market’ for the forecast period. The report offers veritable inputs on recent market developments, technological advancements, as well as competitor activities that are vital in market progression. Additional details pertaining to market size and demographics, growth rate and revenue models have also been included in the report to encourage mindful investment actions. A holistic overview of the global opportunities and threat assessment has also been discussed in the report. Also, the report lends intelligible inputs about the major developments of five regions comprising North America, Latin America, Europe, Asia Pacific and Middle East & Africa.
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Affordability of automotive ECUs is one of the key factors driving market expansion. Additionally, government initiatives towards introducing stringent driving rules is also helping in larger adoption of automotive ECUs. On the back of ongoing initiatives towards maintaining fuel economy, automotive electronic control unit (ECU) is becoming more integral. Global car fleet is growing exponentially and according to UN environment programme report, the car fleet number is expected to grow three times by 2050. International agencies such as UNEP are encouraging initiatives towards controlling vehicular emissions for environmental sustainability. These developments are encouraging new opportunities in ECU market. As per the International Energy Outlook 2021 released by US Energy Information Administration, the number of light duty vehicles worldwide will reach 2.21 billion by 2050. The report credits this rise to soaring private mobility, growing population, and improved economic activities. For the non-OECD nations, by 2050 motorization will increase to 173 vehicles for every thousand users, reveals the report.
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Also, road safety is an important growth fostering element for automotive electronic control units. Road accidents are on the rise. According to the recent statistical data on road accidents released by National Highway Traffic Safety Administration (NHTSA), the number of fatal accidents in 2021 rose by 10.5% from 38,824 deaths to over 42,915. Automotive electronic control unit for vehicles serve multiple purposes to improve safe driving experience. Automobile functionalities are closely monitored and controlled with the help of sensors. Some of the major functions offered by automotive electronic control unit are communication and infotainment, ADAS and safety, powertrain systems besides others.
Catering to the global demand for automotive electronic control units and growing focus towards safe driving, market participants are systematically improving their offerings. In April 2022, Renesas Electronics Corporation has announced the availability of first of its kind automotive ECU Virtualization Platform (RH850/U2x MCUs & ETAS’ RTA-HVR software) that would enable multiple functions on a single ECU without any external interference. The feature would support multiple logical ECUs on one single physical ECU with superlative safety and security. The feature is supported by Renesas ECU virtualization platform and hypervisor that enables hardware virtualization and microcontrollers. The latest development is expected to unwind new growth windows for the global automotive electronic controller unit (ECU) market.
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Based on geographical presence the global automotive electronic control unit market is compartmentalized into five broad pockets comprising North America, Latin America, Europe, Asia Pacific and Middle East & Africa. The market in the APAC region to lead the lion's share in revenue generation in the forecast era. Multiple factors are supporting market expansion in the APAC region such as rising vehicular ownership across several countries such as Malaysia, Japan, China, and India. According to recent report by the Society of Indian Automobile Manufacturers (SIAM) the automotive industry in India is growing substantially, overcoming the pandemic challenges and is likely to witness double-digit growth in FY2023. This is expected to hold promising growth for the automotive electronic control unit market in the region. According to SIAM SUVs and MPVs are poised to hit over 1.6 million units in FY23 from 976,000 units in FY2019. Also, government initiatives in these countries support rapid expansion in the automotive industry. According to IBEF (India Brand Equity Foundation), by FY2023, Indian government is likely to incur over USD 10 billion investments from foreign players.
The European market is following suit and emerging as the next big geographical attraction for the automotive electronic control unit (ECU) market. Besides this, the presence of prominent market leaders is a notable growth facilitator for the growth of the market in the region. However, tremendous user acceptance and mindfulness towards safe driving and environmental sustainability are equally manifesting growth of the market in the region. Additionally, consumer demands for self-driven vehicles are also stoking rapid growth in Europe. Growing demands for Advanced Driver Assistance Systems (ADAS) is anticipated to favor market diversity. In this regard, several events are organized in the region to improve advanced vehicular technology such as ADAS. The ScaleUp 360° Advanced Driver Assistance Systems Europe was organized in January 2022 to encourage ideation on ADAS.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global automotive electronic control unit (ECU) market is segregated into segments comprising ADAS & safety system, body control & comfort system, infotainment & communication system, powertrain system, and others based on application. The ADAS (Advanced Driver Assistance System) and safety system segment is expected to grow most lucratively backed by the soaring digital transition in the automotive industry. Connected car technology is growing profusely and hence the ADAS to eliminate human-errors based accidents. Emerging countries which boast of explicit technological dependence is encouraging segment expansion, backed by internet pervasiveness and improved car ownership. Advanced vehicle technology to improve sensor based communication is crucial for driver and infrastructural safety.
Automobile behemoths are investing in technological developments along with M&A to improve offerings. To improve its ADAS offerings for connected cars, Valeo has undersigned an agreement with BMW Group. The development is expected to give a face lift to BMW's ADAS features comprising sensors and domain controllers for better parking and overall car manoeuvre in light of the upcoming EV platform of BMW. Improved ADAS domain controller will run on the Neue Klasse platform to manage ADAS sensor data. Further, as part of the recent collaboration between Renesas and chip provider Hailo, ADAS features are likely to be improved for better autonomous driving performance. Hailo is working to offer AI chips for high-tech ADAS solutions that are compatible with most motor designs.
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By vehicle type the global automotive electronic control unit (ECU) market is also classified into light-duty vehicles, heavy commercial vehicles, and mining and construction equipment. Out of these, the light duty vehicle segment is expected to be lucrative during the forecast period. Light duty vehicles comprise mainly of cars, pick-up vehicles, SUVs among others that are used for cargo and passenger mobility alike. According to the United Nations Environment Programme (UNEP) data, the number of light duty vehicles is rising steadily and is expected to hit over 2.5 billion vehicles by 2050. Studies are underway to facilitate new technology that would improve fuel economy for light duty vehicles. The National Center for Advanced Technology (NCAT) is conducting multiple experiments to evaluate the performance of advanced technologies such as integrated exhaust, variable valve lift and cylinder deactivation to improve fuel consumption of light duty vehicles. Consumer preferences for advanced features such as connected technologies are improving the demand for light duty vehicles such as SUVs. Improved disposable incomes and economic viability are allowing consumers to opt for improved personal travel options. Transitioning consumer tastes from conventional hatchbacks to more sophisticated options is improving SUV sales globally.
The global automotive electronic control unit (ECU) market is also segmented on the basis of ECU capacity.
Global Automotive Electronic Control Unit (ECU) Market; Segmentation by ECU Capacity
Leading stalwarts have been profiled in this report to ensure optimal clarity among the readers. Some of the major players include Mitsubishi Electric Corp., Continental AG, SAP SE, BorgWarner Inc., Autoliv Inc., Robert Bosch GmbH, DENSO Corporation, Accenture PLC, Tomtom International B.V. and Panasonic Corporation among several others.
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