Increased Incorporation of Advanced Safety drives Automotive ECU Market
According to the market research report Automotive ECU Market by Application, ECU Capacity (16-bit, 32-bit, 64 bit), Propulsion (BEVs, HEVs, ICE), Level of Autonomous Driving, Vehicle Type (LDV, HCV, Construction & Mining Equipment, Agricultural Tractors), and Region - Global Forecast to 2025, published by MarketsandMarketsTM, 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 automotive Electronic Control Unit (ECU) market was valued at USD 23.55 billion in 2017 and is projected to reach USD 39.28 billion by 2025, at a CAGR of 5.77% during the forecast period. The base year for the report is 2017 and the forecast period is 2018 to 2025.
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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.
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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 du lịch bắc kinh giá rẻ từ hà nội rising consumer awareness for safety features in the developing countries are contributing to the growth of the automotive ECU market in this region.
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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.
The automotive ECU market is dominated by a few global players. The key market players are Continental (Germany), Bosch (Germany), and Du lịch bắc kinh ngắn ngày Hitachi (Japan).
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