Global Automotive Electronic Control Unit Market Report (2022 to 2027) - Industry Trends, Share, Size, Growth, Opportunity and Forecasts
DUBLIN, May 27, 2022 /PRNewswire/ -- The "Automotive Electronic Control Unit (ECU) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global automotive electronic control unit (ECU) market reached a value of US$ 75.1 billion in 2021. Looking forward, the market is projected to reach a value of US$ 105.4 billion by 2027, exhibiting a CAGR of 5.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
At present, there is a considerable rise in the sales of electric vehicles (EVs) across the globe. This, in confluence with the thriving automotive industry, represents one of the key factors impelling the growth of the market. Moreover, automotive ECU comprises in-vehicle infotainment (IVI) systems that offer handset integration and head-up display for driver assistance, interior personalization, and cloud-based infotainment.
It also enables users to customize their cars and infotainment systems with user experience data, music, apps, themes, and colors of their choice to enhance their driving experience. Besides this, governing authorities of numerous countries are mandating the incorporation of safety systems in a vehicle, including an anti-lock braking system (ABS) and adaptive front lighting system (AFS), to increase road safety.
This, coupled with the increasing adoption of advanced driver-assistance systems (ADAS) in vehicles to reduce vehicular accidents and fatalities, is escalating the demand for automotive ECU around the world.
Furthermore, key players operating in the industry are focusing on product innovations to offer better services, which is positively influencing the market. Other factors, including technological advancements and rising safety concerns among the masses are projected to stimulate the market growth in the upcoming years.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aptiv PLC, Continental AG, DENSO Corporation, Hitachi Ltd., Magna International Inc., Magneti Marelli S.p.A., Nidec Corporation, NXP Semiconductors N.V., Panasonic Corporation, Pektron Group Limited, Robert Bosch GmbH and ZF Friedrichshafen AG.
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