Automotive Electronic Control Unit Market worth US$ 96.7 Billion 2029 with a CAGR of 4.3 %
The report "Global Automotive Electronic
Control Unit Market, By Vehicle Type (Passenger Car and Commercial
Vehicles), By Sales Channel (Original Equipment Manufacturer (OEM) and
Aftermarket), by Application (Powertrain (Engine Control Unit, Powertrain
Control Unit, Transmission Control Unit, and Others), Entertainment, Safety and
Security (ADAS/ADS, ABS Control Units, and Airbag and Seatbelt Control System),
Chassis Electronics, and Communication and Navigation), and Region - Global Forecast to 2029" Global automotive electronic control unit
market is projected to grow from US$ 65.9 billion in 2020 to US$ 96.7
billion by 2029. Increasing multi-functionalities
in vehicles across the globe is key driving factor for growth of the global
automotive electronic control unit market. Furthermore, growing automotive
sector and development of low-cost ECUs are also expected to boost growth of
the global automotive electronic control unit market over the forecast period.
Moreover, increasing individual preference towards use of ECUs in antitheft
systems, luxury, and hybrid vehicles, along with rising demand for infotainment
systems are expected to support growth of the global automotive electronic
control unit market over the forecast period. Increasing demand for advanced
driver assistance features are expected to create lucrative growth
opportunities for the players operating in the global automotive electronic
control unit market.
Key Highlights:
·
In November
2017, for instance, Continental AG merged with Osram, which is currently operating
under the name Osram Continental GmbH. This merger is for the development of
innovative lighting technology along with electronics and to manufacture and
market intelligent lighting solutions for the automotive industry.
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Key Market Insights from the
report:
The global automotive electronic control unit market
accounted for US$ 65.9 billion in 2020 and is projected to register CAGR of 4.3
% over the forecast period. The market report has been segmented on the
basis of vehicle type, sales channel,
application, and region.
·
By
vehicle type, the passenger cars segment
is accounted for major revenue share in 2018, owing to its most common mode of
conveyance especially in the developed countries.
·
By sales channel,
the original equipment
manufacturer segment accounted for major
revenue share in 2018, owing to reduction in cost of production and enhancement
in the capital productivity.
·
By
application, the safety and security
segment accounted for major revenue share
in the 2018, due to regulatory
authorities pressuring for better and advanced safety and security features in
the automobiles.
·
By
region, Asia Pacific automotive
electronic control unit market accounted
for major revenue share of the global automotive electronic control unit market
and is further anticipated to maintain its dominance over the forecast period.
This is attributed to presence of well established automotive
electronic control units brands in the region, coupled with availability of
these brands through online platform, particularly in countries such as India,
Japan, and China. The market in North
America is expected to account for
second-highest revenue share in 2018.
The prominent player operating in the global automotive
electronic control unit market includes Continental
AG., Denso Corporation, Delphi Automotive PLC, Robert Bosch GmbH., ZF
Friedrichshafen AG., Autoliv Inc., Takata Corporation, Hitachi Automotive
Systems, Ltd., Mitsubishi Electric Corporation, and Magneti Marelli S.p.A.
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