Automotive Electronic Control Unit Market Growth to be Fueled by...

Automotive Electronic Control Unit Market Growth to be Fueled by Advancements in Technology

Сообщение 2023-01-24 11:20:29

Automotive Electronic Control Unit Market

Automotive Electronic Control Unit Market is expected to be valued at USD 84541.1 million with a CAGR of 5.7% Forecast by 2030

The Automotive Electronics Control Unit Market deals with automotive electronic control units or ECUs. The ECUs apply in sectors of the automobile industry where they work with the vehicles' electronic systems. It coordinates with the sensors fitted in cars and deals with actuators for the proper functionalities of a car. Some of the very common ECUs in the automotive industries are the Power train control model and engine control module. The parking aid and transmission control modules also fall under the ECU market. The applications of ECUs have been expanding over different industries. Therefore, the Automotive Electronics Control Unit Market has been increasing in size and valuation.

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The market will expand at a rate of 6.1 per cent in the next few years of the forecast period. As major automotive manufacturers focus on small parts manufacturing, the market looks at growth opportunities for the next few years. Technological advancements in the industry and increase of revenue generation from the industry are positive influences on its growth rate. The COVID 19 pandemic did take a toll on the market as manufacturing industries shut down. However, with the receding of pandemic waves, the Automotive Electronics Control Unit Market looks at a new scope of growth.

The rise of electrically powered vehicles is a great indicator for the Automotive Electronics Control Unit Market. Electric cars create an increased scope of application for Automotive Electronic Control Units. As the global automotive industry turns its gaze towards fuel efficiency and advanced features with sustainability, Automotive Electronic Control Units become a necessity for automotive manufacturing.

Market Segmentation

The Automotive Electronics Control Unit Market has been divided into different industrial segments based on different criteria. The various criteria of segmentation are technology, propulsion and application. The propulsion segment includes internal combustion engines hybrid and battery-operated vehicles. The application segment includes utility vehicles, passenger vehicles and commercial transport. The technology segment is extensive, with transmission control system, engine management system, antilock system and power steering system falling under the segment. The regional segmentation of the ECU market is discussed in the next section.

Regional analysis

The Automotive Electronics Control Unit Market disperses over different regions of the world. These smaller segments of the global market are called primary regional markets. The primary regional markets of the sector are based in North America, Asia Pacific, Europe, Latin America, and African, Middle Eastern region. The Asia Pacific region holds the dominant revenue share in the forecast period. Additionally, the North American region comes in at second place in terms of companies and revenue. The sale of ECU powered vehicles has also been highest in the APAC countries of China and Japan. The APAC region comes forth as the fastest-growing market for Electronic Control Units. The demand for electrically powered passenger vehicles has driven the demand in Asian countries.

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Industry News

The use of Artificial intelligence and AR in-car functionalities will drive the application of ECUs in automotive. Key companies of the sector are working on new product development like contactless human-machine interfaces with the help of ECUs. The development of new driving monitoring systems and voice control systems for automotive with the help of ECUs is a major industry trend.

Key Players