Vehicle Control Unit Market Worth $10.4 Billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Aug. 20, 2019 /PRNewswire/ -- According to the new market research report "Vehicle Control Unit Market by Vehicle Type, Component (Hardware & Software), Propulsion Type, Voltage (12/24V & 36/48V), Capacity (16, 32, & 64-bit), Electric Two-Wheeler, Communication Technology, Function, and Region - Global Forecast to 2027", published by MarketsandMarkets™, the global Vehicle Control Unit Market is projected to grow from USD 2.9 billion in 2019 to reach USD 10.4 billion by 2027, at a CAGR of 17.1%.

The growth of the Vehicle Control Unit Market can be attributed to the growing adoption rate of electric vehicles. Technological advancements in vehicle electronics, battery management systems, body control, and infotainment functions, ADAS, autonomous driving technology, and electrification of automotive components along with the need of compact integrated vehicle systems are some of the major factors driving the growth of vehicle control unit. Thus, the Vehicle Control Unit Market is expected to witness a significant increase in the future.

Browse in-depth TOC on "Vehicle Control Unit Market"

50 – Tables

30 – Figures

150 – Pages

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=129471634

Asia Pacific is expected to lead the global market during the forecast period

Asia Pacific is expected to be the fastest-growing and the largest Vehicle Control Unit Market in the world. The market growth in the region can be attributed to the large electric vehicle sales volume in the region. Considering the large EV sales volume and continuous technological advancements in the battery management systems, automotive features, body control, and infotainment functions; and innovative charging solutions, China is expected to lead the Vehicle Control Unit Market in the Asia Pacific region.

The software segment is expected to grow at the highest CAGR

The software segment is expected to be the fastest market. Software can be reprogrammed over the air (OTA) using SOTA and FOTA protocols. Due to this, VCU is very flexible and can fit into any vehicle system with the help of required programming. Currently, all the VCU providers in the market are using their basic software in their VCUs. However, software can be reprogrammed easily using platforms such as MATLAB and Simulink. This makes the system much more flexible, as the company can roll out software updates over the air. Thus, just like most other electronic systems, hardware might get standardized in the future, and companies would roll out their software, designed predominantly for their vehicles. This would change the VCU market scenario in the future, as software with innovative technologies might get expensive, and hardware is expected to become cheaper.

Europe: Germany is expected to lead the European market

The European region is estimated to be the second-fastest-growing market during the forecast period, after Asia Pacific. The region is a hub to major players such as Robert Bosch GmbH (Germany), Continental AG (Germany), STMicroelectronics (Switzerland), IET SPA (Perugia), Rimac Automobili (Croatia), and AIM Technologies (England). Europe is a key region for innovations, significant R&D, and technological advancements in electric vehicles, vehicle electronics, advanced automotive systems, and charging solutions. Germany is the largest market in Europe, followed by France. Germany, which is said to be the automotive hub of the world, is home to many established vehicle as well as VCU manufacturers and also has a higher EV adoption rate. The increasing demand for advanced automotive features in electric vehicles and electrification of automotive components are driving the Vehicle Control Unit Market in Europe.

Request for Sample Pages:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=129471634 

The global Vehicle Control Unit Market is dominated by major players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Texas Instruments (US), Mitsubishi Electric Corporation (Japan), and STMicroelectronics (Switzerland).

Browse Related Reports:

Electric Vehicle Market by Vehicle (Passenger Cars & Commercial Vehicles), Vehicle Class (Mid-priced & Luxury), Propulsion (BEV, PHEV & FCEV), EV Sales (OEMs/Models) Charging Station (Normal & Super) & Region - Global Forecast to 2030

Electric Vehicle Supply Equipment Market by Charging Level (Level 1, Level 2 & Level 3), Application (Public, Private), Charging Infrastructure, Electric Bus Charging, Installation (Portable Charger, Fixed Charger), Charging Station, and Region - Global Forecast to 2027

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/vehicle-control-unit-market.asp
Visit Our Website: https://www.marketsandmarkets.com 
Content Source: https://www.marketsandmarkets.com/PressReleases/vehicle-control-unit.asp

SOURCE MarketsandMarkets