According to Vision Research Reports, the global automotive electronics control management market value is projected to surpass US$ 82 Bn by 2027, expanding at a CAGR of above 6.2% during the forecast period 2020 to 2027.
The global automotive electronics control management market is likely to be driven by a range of macroeconomic and industry-specific factors. Asia Pacific is expected to be at the forefront of global demand, with the market in the region expanding at a CAGR of more than 7.2% between 2020 and 2027.
Automotive electronics have been gaining popularity in the automotive industry. The complete shift from mechanical systems to electrical systems in the automotive industry, such as power steering, adaptive cruise control, and in-car connectivity are likely to increase the demand for electronic control unit in modern cars. Premium vehicle manufacturers are introducing latest technologies, which consist of sensors and complex wiring system. Demand for electronic control units is expected to rise significantly during the forecast period in order to avoid complex design and for enhanced electric connections along with better data transfer. Increased fuel efficiency demand along with growing safety preference and adoption of latest technologies by OEMs to provide better driving experience anticipated to expand the use of electronic control unit during the upcoming days. Furthermore, growing sales of premium vehicle across the globe due to change in lifestyle, increased per capita income, and inclination toward luxurious cars likely propel the demand for electronic control unit. Premium vehicles are integrated with several latest technologies and hence, these vehicles contain numerous electronic control unit (ECUs). Therefore, rise in adoption of premium vehicles is a key factor that is likely to drive the automotive electronics control management market during the forecast period. Increasing adoption of electric vehicles owing to government policies regarding minimum carbon emission, incentive policies by governments, and focus toward green transportation are anticipated to drive the automotive electronics control management market during the forecast period.
In terms of application type, the global automotive electronics control management market has been divided into engine control module, transmission control module, brake control module, ADAS module, and others. The transmission control module segment is anticipated to expand at a significant rate during the forecast period owing to increasing adoption of automatic transmission across the globe. Increase in demand for fuel-efficient vehicles is projected to fuel the demand for automatic transmission during the forecast period. The transmission control module receives information from various sensors to provide better smooth shifting gear timing which ensure of comfortable driving experience, and it enhance the performance of complete transmission system. The advance driver assistance system (ADAS) segment is anticipated to be a highly attractive segment during the forecast period. It is projected to expand rapidly, which in turn is expected to drive the automotive electronics control management market during the forecast period. Autonomous driving employs latest technologies, such as lane departure warning, blind spot detection, adaptive cruise control, automatic braking, in order to maintain safety and convenience. Furthermore, major OEMs are providing a majority of the ADAS technologies for safety purposes and for better driving experience, which in turn is projected to boost the demand for electronic control unit. This in turn is likely to drive the automotive electronics control management market during the forecast period.
In terms of vehicle, the automotive electronics control management market has been classified into passenger vehicle, commercial vehicle, and electric vehicle. Electric vehicle segment likely to drive the automotive electronics control management market. Advanced technologies, which enhance the performance as well as play an important role in safety, are included in most electric vehicles. Rise in adoption of electric vehicles due to government policies regarding emission, enhanced focus of OEMs on the development and manufacture of electric vehicles, and other factors such as growing infrastructure of electric vehicle, availability of charging stations, and affordable price of battery, are anticipated to drive the adoption of electric vehicles. This, in turn, is projected to drive the automotive electronics control management market during the forecast period.
In terms of region, the global automotive electronics control management market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is a prominent market for automotive electronics control management. The market in Asia Pacific is anticipated to expand at a significant pace during the forecast period. Increasing trend of adoption of latest technology in Asia Pacific, owing to the presence of major auto manufacturers, such as Toyota, Hyundai, and Volkswagen, is likely to boost the market. Furthermore, increase in sales of premium vehicles owing to several factors such as increase in per capita income and lower bank interest rates, is anticipated to drive the automotive electronics control management market during the forecast period.
Key Players
Prominent players operating in the global automotive electronics control management market include Calsonic Kansei Corporation, Continental AG, Delphi Auto Parts, Denso Corporation, HELLA GmbH & Co. KGaA, Hitachi Automotive Systems, Ltd., HYUNDAI MOBIS, Infineon Technologies AG, Magneti Marelli S.p.A., Mitsubishi Electric Corporation, Robert Bosch GmbH, TREMEC, and ZF Friedrichshafen AG.
Segmentation
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