Automotive ECU Market - Industry Analysis, Growth, Trends and Forecasts to 2024A Chapter by Markets InsightsAs per latest market research studies, the global Automotive Electronics Control Unit Market is projected to reach USD 53.91 billion by 2024 growing at a CAGR of 6.7% from 2016 to 2024.The global automotive electronics control unit market is
estimated to report USD 53.91 billion by
2024 from USD 35.1 billion in 2016 expanding at a CAGR of 6.7% from 2016 to 2024. Factors that fuel this industry are
widespread deployment of ECUs in electric vehicles and the popularity of
infotainment systems. Surging demand for electric vehicles is fuelled by
ecological concerns and high focus on energy efficiency of vehicles. Shift of
focus towards green technologies propels the demand for driver-assist systems.
This reduces the excessive dependency on fossil fuels and also controls CO2
emissions. The growing popularity of electric vehicles is another key factor
that will fuel this industry in the forthcoming years.
The preference for
sophisticated systems in mid-sized vehicles, such as navigation and high-end
communication systems will create opportunities for expansion of this industry.
Increasing R&D expenditure aimed at the production of cost-efficient
components for various ECUs will fuel market demand. However, owing to
complexities in the consolidation of automotive domains, this market is likely
to face certain bottlenecks.
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The global
automotive ECU market is categorized on the basis of applications and
geography. Based on applications, the divisions are powertrain, chassis
electronics, safety & security, entertainment, and communication &
navigation. The communication and navigation segment will expand significantly
owing to surging demand for sophisticated in-car features, eco-efficiency, and
in-car data storage.
Powertrain will
witness strong growth because of changing environmental trends. Expanding at a
CAGR of 5.6% during the forecast period 2016-2024, chassis electronics is
expected to reach USD 11.62 billion by 2024 from USD 8.03 billion in 2016.
Safety system encompasses tire pressure monitoring systems, pre-crash safety
systems, anti-theft systems, keyless entry systems, and airbags. It protects
consumers and vehicles from risky situations and thefts, respectively.
Ongoing industry
trends depict that the communication and navigation segment will expand
robustly during the forecast period.
Geographically, the
automotive ECU market is categorized into North America, Europe, Asia Pacific,
and Rest of the World. Europe is anticipated to be the fastest growing market
because of the leading position that it holds in the luxury cars market. Other
factors driving the Europe market are demand for navigation systems and
popularity of telematics. Exponential growth of the logistics industry further
fuels the growth. The North America market will be affected by the sluggish
adoption of newer technologies. Owing to the growing popularity of safety
systems coupled with the China V standard meant for light-duty vehicles, Asia
Pacific will record significant growth.
The prominent
companies operating in the global automotive ECU industry are Bosch, Delphi,
Continental AG, Denso, and Hitachi Automotive. This industry is characterized
by frequent mergers and acquisitions aimed at increasing market share.
Companies opt for business ventures mainly for increasing their regional
presence and also for broadening their product portfolio.
With an aim towards
acquiring a loyal customer base and significant market share, Continental AG
focuses on innovation, market intelligence, and superior product quality.
Followed closely by Denso and Bosch, this market is led by Continental AG.
ConnectedDrive, designed
by BMW provides a variety of apps for downloads. This in turn reduces the need
for developing hardware and new systems, thereby enhancing the scope of the
current infotainment system. It is anticipated that embedded cellular link will
create more services for upgrading and connecting the ECU software programs in
automobiles.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/sensors-and-controls-industry
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Added on January 9, 2017 Last Updated on January 9, 2017 Tags: automotive ECU market, automotive ECU market size, automotive ECU market analysis, automotive ECU market trends, automotive ECU market share, automotive ECU market growth AuthorMarkets InsightsFelton, CAAboutAbout Us: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer c.. more..Writing
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