LONDON, March 28, 2018 /PRNewswire/ -- Download the full report: https://www.reportbuyer.com/product/5360487
The global automotive ECU market is expected to reach USD 60.5 billion by 2025, according to a new report by Grand View Research, Inc. Growing awareness amongst consumers for the use of ADAS and active safety systems in a vehicle is substantially driving the market. Furthermore, factors such as increasing number of luxury and hybrid vehicles and rising deployment of infotainment systems are also contributing to the escalating growth of automotive ECU market.
Increasing electronic content and integration, and installation of ADAS systems in economy cars, and growing focus on increasing the number of driverless cars is expected to strengthen the penetration of automotive ECUs in the ADAS & safety applications.For instance, technological advancements such as sensor fusion has alarmed the need for its use in the vehicles.
Additionally, significant developments in voice navigation systems, display units, touch screen controls, and intelligent driver distraction systems are enhancing the customer's experience with in-vehicle entertainment systems, thus, helping the automotive ECU market penetrate within the infotainment applications.
Moreover, the regulatory scenario in automotive industry, and consumer awareness in safety systems that reduces the risk of accidents fuel the demand for ADAS & safety systems significantly.Thus, with various government initiatives and regulations focusing on reducing energy consumption of passenger cars, and maximizing the sales of new energy vehicles, including plug-in hybrid and fully electric cars, the demand for ECUs is predicted to grow significantly over the next eight years.
In order to promote the use of hybrid and electric vehicles, governments across various countries are providing relief on annual tonnage tax and automobile tax to the automobile manufacturers.
ADAS & safety system was the largest application segment in 2016 and is expected to maintain a moderate growth rate of 6.2% over the forecast period. It is anticipated to constitute a share of 26.2% by 2025. However, infotainment application segment is expected to grow subtantially over the next eight years with an estimated CAGR of 9.2% from 2017 to 2025. The integration of smartphones with automotive infotainment systems is expected to drive the increasing demand for infotainment systems in the vehicle, thereby, escalating the adoption of automotive ECUs for infotainment applications.
Further key findings from the report suggest:
• The global automotive ECU market is expected to grow at a CAGR of 6.8% from 2017 to 2025
• ADAS & safety systems emerged as the largest application segment in 2016 and is estimated to generate revenue of USD 16.57 billion by 2025
• The China ADAS & safety system market for automotive ECU is estimated to reach USD 3.55 billion by 2025, due to the implementation of New Car Assessment Programme (NCAP), and growing penetration of luxury and hybrid vehicles, which in turn is anticipated to proliferate the demand of ECUs in the country.
• The industry in Europe is projected to witness highest CAGR over the forecast period owing to the implementation of New Car Assessment Program (NCAP), which mandates the use of active and passive safety systems. The regional market is expected to grow at a CAGR of 7.3% from 2017 to 2025.
• Key players including Continental AG, Robert Bosch GmbH, and Denso Corporation dominated the global automotive ECU market while accounting for over 50% of the overall revenue in 2016
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