According to Hexa Research, the global automotive electronics control unit (ECU) market is estimated to garner $53.91 billion by 2024 from $35.1 billion in 2016 expanding at a CAGR of 6.7% from 2016 to 2024. Factors driving growth are widespread deployment of ECUs in electric vehicles and the popularity of infotainment systems.
Hexa Research sees:
- Surging demand for electric vehicles is fueled by ecological concerns and high focus on energy efficiency of vehicles.
- The growing popularity of electric vehicles is another key factor that will fuel this industry in the forthcoming years.
- The preference for sophisticated systems in mid-sized vehicles, such as navigation and high-end communication systems will create opportunities for expansion of the ECU industry.
- The global automotive ECU market is categorized based on applications and geography. Based on applications, the divisions are powertrain, chassis electronics, safety & security, entertainment, and communication & navigation. The communication and navigation segment will expand significantly owing to surging demand for sophisticated in-car features, eco-efficiency, and in-car data storage.
- Powertrain will witness strong growth because of changing environmental trends.
- Ongoing industry trends depict that the communication and navigation segment will expand robustly during the forecast period.
- Geographically, the automotive ECU market is categorized into North America, Europe, Asia Pacific, and Rest of the World.
- Prominent companies operating in the global automotive ECU industry are Bosch, Delphi, Continental AG, Denso, and Hitachi Automotive.
For deeper insights, peruse the “Automotive Electronics Control Unit Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts, 2016 To 2024” report.