September 8th, 2022
The report "Automotive Electronic Control Unit Market, By Vehicle Type (Passenger Car and Commercial Vehicles), By Sales Channel (Original Equipment Manufacturer (OEM) and Aftermarket), by Application (Powertrain (Engine Control Unit, Powertrain Control Unit, Transmission Control Unit, and Others), Entertainment, Safety and Security (ADAS/ADS, ABS Control Units, and Airbag and Seatbelt Control System), Chassis Electronics, and Communication and Navigation), and Region - Global Forecast to 2029"
Automotive electronic control unit market is projected to grow from US$ 65.9 billion in 2020 to US$ 96.7 billion by 2029. Increasing multi-functionalities in vehicles across the globe is key driving factor for growth of the global automotive electronic control unit market. Furthermore, growing automotive sector and development of low-cost ECUs are also expected to boost growth of the global automotive electronic control unit market over the forecast period. Moreover, increasing individual preference towards use of ECUs in antitheft systems, luxury, and hybrid vehicles, along with rising demand for infotainment systems are expected to support growth of the global automotive electronic control unit market over the forecast period. Increasing demand for advanced driver assistance features are expected to create lucrative growth opportunities for the players operating in the global automotive electronic control unit market.
· In November 2017, for instance, Continental AG merged with Osram, which is currently operating under the name Osram Continental GmbH. This merger is for the development of innovative lighting technology along with electronics and to manufacture and market intelligent lighting solutions for the automotive industry.
Key Market Insights from the report:
The global automotive electronic control unit market accounted for US$ 65.9 billion in 2020 and is projected to register CAGR of 4.3 % over the forecast period. The market report has been segmented on the basis of vehicle type, sales channel, application, and region.
· By vehicle type, the passenger cars segment is accounted for major revenue share in 2018, owing to its most common mode of conveyance especially in the developed countries.
· By sales channel, the original equipment manufacturer segment accounted for major revenue share in 2018, owing to reduction in cost of production and enhancement in the capital productivity.
· By application, the safety and security segment accounted for major revenue share in the 2018, due to regulatory authorities pressuring for better and advanced safety and security features in the automobiles.
· By region, Asia Pacific automotive electronic control unit market accounted for major revenue share of the global automotive electronic control unit market and is further anticipated to maintain its dominance over the forecast period. This is attributed to presence of well established automotive electronic control units brands in the region, coupled with availability of these brands through online platform, particularly in countries such as India, Japan, and China. The market in North America is expected to account for second-highest revenue share in 2018.
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The prominent player operating in the global automotive electronic control unit market includes Continental AG., Denso Corporation, Delphi Automotive PLC, Robert Bosch GmbH., ZF Friedrichshafen AG., Autoliv Inc., Takata Corporation, Hitachi Automotive Systems, Ltd., Mitsubishi Electric Corporation, and Magneti Marelli S.p.A.
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