Automotive Electronic Control Unit (ECU) Market Overview
The Automotive Electronic Control Unit (ECU) market was valued US$ 31.1 Bn in 2020, and would grow by more than 6.4% CAGR.
Automotive ECU are integrated embedded system in automotive electronics which helps to regulate multiple electrical systems in vehicles. It manages a wide range of functions such as keyless entry, power and engine steering control, power windows, Heating, Ventilation, and Air Conditioning (HVAC), and many more. It also controls passive and active safety features like automatic emergency braking system and airbags.
According to latest research, Automotive ECU market is set to witness significant growth during 2021-2031. The market will show significant growth in coming years, owing to rising adoption of autonomous driving technology such as Automatic Emergency Braking (AEB), Adaptive Cruise Control (ACC), park assist, blind-spot detection, and Lane Departure Warning (LSW) systems.
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What is Driving Demand for Automotive ECU Market?
Increasing consumer preference for self-driving cars, vehicle-to-vehicle communication technology, and fuel-efficient Electric Vehicles (EVs) and it is expected to fuel the demand for the automotive ECU market.
Also rising adoption of autonomous driving technology such as Automatic Emergency Braking (AEB), Adaptive Cruise Control (ACC), park assist, blind-spot detection, and Lane Departure Warning (LSW) systems augments the demand for the automotive ECU market.
Increasing Demand for Luxurious and Smart Vehicles, Automotive Manufacturers is Expected to Fuel the Demand for the Automotive ECU Market
The factors such as growing preference for in-vehicle infotainment systems, increasing demand for smart and luxurious vehicles, automotive manufacturers which uses ECUs and creates connected car systems. Such factors propels the demand for the automotive ECU market in coming years.
The adoption of advanced convenience, safety, and comfort systems in vehicles has been increased over the years and the demand for the Hybrid Electric Vehicles (HEV) and Battery Electric Vehicles (BEV) has been increased thus it fuels the demand for the automotive ECU market.
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Asia Pacific Automotive ECU Market Outlook
Asia Pacific is anticipated to largest and fastest-growing region in the automotive ECU market over the forecasted period. The Asia Pacific shows significant growth in Automotive ECU market owing to rising demand of communication applications and in-vehicle infotainment in passenger vehicles.
China is the world's second-largest economy behind the United States. China is one of the prominent economy in automotive ECU market owing to increasing demand of the country’s automotive industry, ultimately creates the demand for automotive ECU market in APAC region.
Increasing disposable income of the people as well as increasing population in Asia Pacific region propels the demand for the automotive ECU market in APAC region. Also factors such as increasing purchasing power of the people, rising demand for
Advanced/updated electronics in vehicles, and increasing customer awareness about safety features in developing countries such as India, China, Indonesia, and many more. Thus such factors propels the demand for the automotive ECU market in APAC region.
North America is the second largest contributor to automotive ECU market, owing to factors such as increasing demand for energy-efficient vehicles, rising demand for the premium automobiles in the developed economies such as Canada & US, and rising demand for luxury cars in region.
Also the factors such as stringent government regulation about carbon emission, rules to reduce greenhouse gas emission, adoption of energy efficient vehicle by customer, and increasing adoption of the advanced technology such as connected cart technology augmenting the growth of the automotive ECU market in North America region.
Who are the Major Vendors of Automotive ECU Market?
Some of the leading vendors and companies of Automotive ECU market include
These key vendors have adopted various organic/inorganic strategies, to increase customer base at global market. They spends millions of dollars into product research and development to carry off the needs of their customers for Automotive ECU market.
Furthermore, many companies are focusing on introducing new product to enhance their product offering.
For instance, in March 2021, Aptiv introduces next-Gen ADAS Platform for highly automated and electrified vehicles. Smart Vehicle Architecture enables the software-defined vehicle, reduces complexity, and lowers total system costs.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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