Automotive Electronics Control Unit (ECU) Market Worth $95bn by 2024: Global Market Insights, Inc.

SELBYVILLE, Delaware, September 18, 2018 /PRNewswire/ --

Automotive ECU Market share is estimated to value USD 95 billion by 2024 when global automotive electronics control unit industry shipments are forecast to witness around 6% growth; according to a new research report by Global Market Insights, Inc.

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Increasing installation of the advanced features and ADAS in autonomous and luxury vehicles is driving the automotive ECU market growth. Luxury vehicles deploy a large number of ECUs and offer advanced driving assistance benefits and 360º radar sensing. Developments observed in the design and manufacturing of electric vehicles (EVs) and hybrid electric vehicles (HEVs) are the key trends that will positively impact the automotive ECU market growth. A major transition observed in the ECU implementation in these vehicles includes control unit degradation that deactivates the unnecessary elements and eliminates optional GPS signals and offers low current consumption, improved safety, and electric function management.

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The rise in automobile production across the globe to cater to the increasing population requirement is further creating several opportunities for the automotive ECU market growth. The global automobile manufacturing market identifies smart connectivity and greener production initiatives, leading to an increased consumption of control units. Additionally, several favorable government reforms to control the road traffic and ensure driver safety drive the production of modern vehicles. For instance, the Chinese government has adopted its plan of policy-driven automotive and related components manufacturer consolidation to achieve economies of scale and improve the automotive business model. However, factors, such as high design complexity and ECU failure instances, followed by the trend of ECU consolidation are hindering the automotive ECU market growth the product demand.

Passenger vehicles are expected to grow at around 6% CAGR in the automotive ECU market. These vehicles include luxury cars that deploy the highest number of ECUs owing to their requirements for enhanced performance. Modern passenger cars deploy several automated features such as airbag security and energy-efficient engines. ECUs in the utility and commercial vehicles provide several IoT-based functions, controlling and managing the overall engine capacity functions. Additionally, in commercial vehicles, the components offer efficient cabin test and control functions for door modules that require the complex handling and control, further driving the automotive ECU market growth. High consumption of the commercial vehicles across the globe due to increased industrial production capacity and government infrastructure development initiatives is driving the automotive ECU market growth.

Browse key industry insights spread across 430 pages with 695 market data tables & 34 figures & charts from the report, "Automotive Electronics Control Unit (ECU) Market Size By Capacity (16-bit, 32-bit, 64-bit), By Vehicle Type (Passenger Cars, Utility Vehicles, Commercial Vehicles), By Mode (Autonomous Vehicles, Conventional Vehicles, Semi-autonomous Vehicles), By Propulsion Type (BEVs, Hybrid Vehicles, ICE Vehicles), By Application (ADAS & Safety, Body Control & Comfort, Infotainment & Communication, Powertrain), Industry Analysis Report, Regional Outlook (U.S, Canada, Germany, UK, France, Italy, Spain, Benelux, Poland, Sweden, Russia, China, India, Japan, South Korea, Taiwan, Thailand, Indonesia, Malaysia, Australia, Brazil, Mexico, Colombia, Argentina, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/automotive-ECU-market-report

Battery Electric Vehicles (BEVs) automotive ECU market accounted for over 30% share in terms of unit shipment in 2017 and is expected to grow due to the high demand for energy efficient vehicles across various regions. Several countries are focusing on improving their carbon emission rates and are developing various initiatives & programs to promote the adoption of these solutions. Major automobile manufacturing players are supporting the government initiatives to reduce the pollution rate and contribute to the sustainable goals achievement. For instance, players including Nissan and BMW are developing the technologies and encouraging the customers and government to adopt energy-efficient vehicles. ICE vehicles are steadily rising in the automotive ECU market as they offer several benefits such as less noise, vibrations, and lower costs. However, International regulations for lowering carbon dioxide emissions are restricting the ICE vehicle market growth.

The Europe automotive ECU market is expected to grow at a CAGR of over 5% from 2018 to 2024. The growth can be credited to the presence of large number of prominent automobile manufacturers in Germany, France, and Italy. In addition, the increasing government legislation and supportive policies are further expected to propel the automotive ECU market growth. For instance, in May 2018, the French government confirmed authorization of driverless car testing operations on open roads from the year 2019. Furthermore, increasing instances of public-private partnerships in several countries for automobile industry development are driving the automotive ECU market growth.

Key companies providing enhanced solutions in the automotive ECU market comprise Bosch Group, Hitachi Automotive Systems, Hyundai MOBIS, Delphi Technologies, Lear Corporation, Johnson Control, Continental AG, Mitsubishi Electric Corporation, Altera Corporation, and Magneti Marelli. Prominent players are focusing on the development of technically-advanced products to gain a competitive advantage. An emerging trend is the development of semi-autonomous and self-driving cars exhibiting the latest connectivity technologies. Furthermore, several companies in the U.S. and China started autonomous vehicle testing in compliance with the regional regulations. For instance, in April 2018, BMW inaugurated its specialized research center for the systematic development of fully automated driving in Germany.

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Automotive Electronics Market Size By Application (ADAS, Body Electronics, Entertainment, Powertrain, Safety Systems), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, Czech Republic, Poland, Slovakia, Spain, Turkey, China, India, Japan, South Korea, Thailand, Australia, Malaysia, Philippines, Taiwan, Vietnam, Indonesia, Brazil, Mexico, Argentina, Iran, South Africa, Egypt), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 - 2024

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https://www.gminsights.com/industry-analysis/adas-market

About Global Market Insights 

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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SOURCE Global Market Insights, Inc.