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Automotive ECU Market is Estimated to be Valued at USD 53.91 Billion by 2024 | Hexa Research

Automotive ECU Market is Estimated to be Valued at USD 53.91 Billion by 2024 | Hexa Research

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Research Report on Automotive Electronics Control Unit Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts, 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.

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.

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https://www.hexaresearch.com/research-report/automotive-electronics-control-unit-market

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 Reports @
https://www.hexaresearch.com/research-category/sensors-and-controls-industry

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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 comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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