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Automotive ECU Market to witness 7% growth rate up to 2023

Automotive ECU Market to witness 7% growth rate up to 2023

APAC will lead automotive ECU market share in terms of revenue growth, at 7.2% CAGR from 2016 to 2023 driven by high automobile production, rising safety standards, and fuel economy concerns.
Automotive Electronics Control Unit Market Size By Application (Powertrain, Chassis Electronics, Safety & Security, Entertainment, Communication & Navigation), Industry Outlook Report, Regional Analysis, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016–2023

Global Automotive Electronics Control Unit (ECU) Market is likely to chart out a lucrative growth path over the next few years, subject to the highly developing automotive sector. The recent joint venture between BMW AG, Delphi, and Intel that aims to develop a highly automated self-driving platform for BMW, with Delphi handling the spare parts configuration and software connectivity may also give a major boost to automotive ECU market. Of late, the automotive industry has observed a major shift with changing consumer preferences toward purchasing luxury cars, which will generate new avenues for the business.

The automotive industry is going to experience a huge growth due to the surging preference for sustainable technologies, electric vehicles, eco-friendly driving systems, and energy-preserving vehicles, which will subsequently boost automotive ECU market. Global Market Insights, Inc., reports that automotive ECU industry size, which was assessed at USD 32 billion in 2015, is slated to surpass USD 50 billion by 2023.

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Incorporation of additional innovative features such as connected navigating, infotainment, telematics, advanced control, and communication systems in the vehicles will help in increasing the automobile sales, thereby contributing considerably towards automotive ECU market revenue.  The emerging advanced driver assistance system (ADAS) sector, driven by rising safety concerns, is expected to steer the business growth over the span of few years.

Automotive ECUs find wide application in communication & navigation, electric vehicle powertrain, chassis electronics, entertainment, and safety & security sectors. Automotive electronic control unit (ECU) industry size from safety applications, which was evaluated at USD 9 billion in 2015, is forecast to observe a lucrative expansion over the coming years. Mounting requirement for passenger security along with strict safety guidelines set by law enforcement agencies to ensure safe driving will impel automotive ECU industry growth.

High inclination toward the use of convenience technologies for improving the driving experience is projected to raise automotive electronics control unit (ECU) market size across the communication & navigation sector.

Electric vehicle powertrain applications are expected to contribute substantially towards automotive ECU market share in the future, driven by the deployment of electronic control units in electric vehicle powertrains for controlling the operations of electric motors, power electronics systems, and battery.

Considering the regional landscape, Middle East & Africa automotive ECU industry is set to record a CAGR of 4.5% from the period of 2016 to 2023. Escalated vehicle production by various automobile manufacturing firms across the region is expected to augment the revenue. Egypt, Nigeria, Iran, and Algeria are likely to be the key regional share contributors.

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Asia Pacific automotive electronics control unit (ECU) market, which contributed to a major share of the overall revenue in 2015, is predicted to grow at an annual rate of 7.2% over the period of 2016-2023. An increase in the automobile sales, escalating vehicle safety standards and low fuel usage are few of the key growth drivers. Japan, China, and India are predicted to boost the regional revenue.

automotive ECU industry size in Mexico, which was estimated at USD 1 billion in 2015, is projected to register significant gains over the coming timeframe. High funding to construct new automobile manufacturing units across the region to fulfill the consumer demand for vehicles is predicted to push the regional revenue.

Europe automotive electronics control unit (ECU) market value, worth USD 8 billion in 2015, is projected to experience a substantial surge over the years to come. Favorable government regulations mandating the deployment of advanced emergency braking systems in vehicles for ensuring the safety of pedestrians, commuters, and drivers will drive the regional demand.

Market players will increase their ROI through mergers & acquisitions, high R&D financing, technological innovations, and product differentiation.  Takata Corporation, Atmel Corporation, Autoliv Incorporation, Robert Bosch GmbH, Faurecia, Calsonic Kansei Corporation, Performance Electronics, Limited,  Broadcom Limited, Johnson Controls, Dow Corning Corporation, Denso Corporation, Infineon Technologies AG, Mitsubishi Electric Corporation, Altera Corporation, TRW Automotive, Continental AG, Delph Automotive PLC, Lear Corporation, Voxx Electronics Corporation, The Hyundai Motor Company, Panasonic Corporation,  Hitachi Automotive Systems Limited, Advics Company Limited, Texas Instruments Incorporation, Aisin Seiki Company Limited are the key participants of automotive electronics control unit (ECU) industry.

Browse key industry insights spread across 104 pages with 21 market data tables & 28 figures & charts from the report Automotive Electronics Control Unit (ECU) Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/automotive-ECU-market-report

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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