The automotive ECU market is projected to grow at a CAGR of 6.01% during the forecast period, to reach USD 96.39 billion by 2025. The market growth is primarily driven by factors such as the increased incorporation of advanced safety, convenience, and comfort systems in vehicles and the increased demand for hybrid electric vehicles (HEV) and battery electric vehicles (BEV).
The rising demand for advanced electronics such as windshield HUDs, infotainment & navigation units, rear seat entertainment, camera modules, drive mode selector, ADAS, and advanced telematics is expected to drive the automotive ECU market. The continuous progression of technologically advanced electronics in regions such as North America and Europe would also drive the growth of automotive electronics in the next five years.
The increasing number of government mandates has compelled Original Equipment Manufacturers (OEM) to equip their vehicles with advanced comfort and convenience features. For instance, Russia has mandated the emergency call service called “ERA-GLONASS” for all new cars. This is an automatic crash notification system, which contacts emergency services automatically if a possibly injurious crash has been detected by vehicle sensors. The European Union (EU) has also announced that the e-call service will be a mandatory feature for all new cars sold within the EU after April 2018.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=34863602
Asia Pacific is estimated to be the fastest growing market for automotive ECUs, in terms of value. The Asia Pacific region is estimated to be the most promising market for automotive ECUs in the next five years due to strong growth in the passenger car sales year on year. Developing countries such as India and China are driving the growth of the automotive ECU market in the region. Factors such as the increasing application of advanced electronics in vehicles, growing purchasing power of the consumers, and rising consumer awareness for safety features in the developing countries are contributing to the growth of the automotive ECU market in this region. The demand for automotive ECUs in Europe and North America would be driven by the growth of semi-autonomous, autonomous and electric vehicles, increasing awareness of car security and comfort features, and government mandates such as regulation for AEB system.
Battery Electric Vehicle (BEV) is projected to be the fastest growing segment of the automotive ECU market. BEV segment is estimated to have the highest growth potential in the ECU market across the globe. Growing environmental concerns, rising fossil fuel prices, and stringent government regulations for emission have accelerated the growth of the BEV market. The replacement of mechanical systems with electrical and electronic systems has resulted in the increased use of ECUs in electric vehicles. Hence, the increasing demand for electric vehicles with advanced safety features and autonomous applications would drive the growth of automotive ECU market.
Know more about Automotive ECU Market Report:
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.
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Address:630 Dundee Road Suite 430
Country: United States