Pune, India, April 12, 2022 (GLOBE NEWSWIRE) -- The global automotive electronic control unit market size is anticipated to hit USD 94.58 billion by 2029 and exhibit a CAGR of 7.2% during the forecast period. The rising adoption of integrated automotive electronic control units (ECU) and increasing emphasis on vehicle owner data protection are vital factors that stimulate the market's growth. Fortune Business InsightsTM has presented this information in its report titled, "Automotive Electronic Control Unit Market, 2022-2029". The market size stood at USD 53.13 billion in 2021 and USD 58.31 billion in 2022.
Additionally, the growing trend of remapping automotive electronic control units to maximize vehicle performance is anticipated to create lucrative growth opportunities for the market.
Industry Developments-
October 2021: Delphi Technologies was acquired by BorgWarner Inc. The acquisition is aimed to fortify BorgWarner's power electronic products, power electronics, and electronic control unit.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2021 to 2028 CAGR | 7.2% |
| 2029 Value Projection | USD 94.58 billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 53.13 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 200 |
| Segments covered | Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, and Electric Vehicle |
| Growth Drivers | Asia Pacific to Dominate Market Due to Escalating Demand for Passenger Cars |
| Rising Adoption of Integrated ECUs to Fuel Market Growth |
Drivers & Restraints-
Rising Adoption of Integrated ECUs to Fuel Market Growth
The incorporation of highly distributed automotive ECU in vehicles has increased in recent years. However, vehicle's space gets occupied when a vast number of ECUs are installed on a vehicle. Thus, to avoid extra weight and space utilization, manufacturers are installing integrated ECUs to perform multiple control functions from a single unit. Hence, the rising adoption of integrated ECUs is likely to boost the global automotive electronic control unit market growth.
Concerns over data security have increased in recent years as well. Access to vehicle owner data is crucial, but the cases of data theft have increased and have inclined consumers to protect their personal data. This increasing emphasis on vehicle owner data protection is expected to be a vital factor stimulating the market's growth.
However, the expensive repairs and technical failures affect reliability and can be the factors restraining the market's growth during the forecast period.
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Segments-
On the basis of vehicle type, the market is fragmented into electric vehicle, heavy commercial vehicle, light commercial vehicle, and passenger car. On the basis of application, the market is segmented into infotainment, ADAS, body electronics, braking system, and powertrain. Geographically, the market is classified into Europe, North America, Asia Pacific, and the Rest of the World.
Report Coverage-
- It covers information on different market segments.
- It includes an assessment of the COVID-19 pandemic's impact on the market.
- It incorporates Porters' Five Forces Analysis for precise market prediction.
- It addresses the latest developments witnessed in the market.
- It highlights the various restraints and drivers of the market's growth.
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Regional Insights-
Asia Pacific to Dominate Market Due to Escalating Demand for Passenger Cars
Asia Pacific is predicted to emerge dominant in the global automotive electronic control unit market share. The improving personal disposable income levels and rising demand for passenger cars are expected to stimulate the market's growth in the coming years.
North America is anticipated to exhibit steady growth in the coming years. The rising utilization of safety systems across standard vehicles and the escalating electrification of SUVs, light commercial vehicles, and passenger cars are predicted to boost the market growth in North America.
Europe is expected to witness substantial growth due to the presence of various luxury car and advanced sensors and electronic device manufacturers.
Competitive Landscape-
Major Players Adopt Ingenious Strategies to Capture Growth
The major players operating in the market conduct extensive research and development activities to deliver integrated solutions and advanced product offerings. They adopt various growth strategies, including partnerships, collaborations, mergers, acquisitions, and others. For instance, Denso Corporation unveiled a new electric power steering motor control unit (EPS-MCU) in September 2020. The new product offers enhanced safety and handling to vehicles.
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COVID-19 Impact-
Global Market Growth to Slow Down Amid Pandemic
The global coronavirus pandemic dampened the global automotive industry's growth. The demand for automotive ECU declined due to low production and sales of vehicles. The declined consumer demand due to high unemployment rates and financial crisis affected the market growth. Nonetheless, resuming operations and improving vehicle sales are helping the market gain momentum. The market is likely to gain striking growth in the coming years.
List of Key Market Players-
- ZF FRIEDRICHSHAFEN AG (Germany)
- Continental AG (Germany)
- Denso Corporation (Japan)
- Hyundai Mobis (Korea)
- Autoliv (Sweden)
- Robert Bosch GmbH (Germany)
- Altera (Intel Corporation) (U.S.)
- Valeo Inc. (France)
- Delphi Technologies (U.K.)
- NXP Semiconductors N.V. (Netherlands)
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments - Merger, Acquisitions, and Partnerships
- Porter's Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Value Chain Analysis
- Impact of COVID-19 on Electric Bus Market
- Global Electric Bus Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
Continued…
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