Global automotive ECU market is projected to reach nearly $67.7 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
Depending on vehicle type, in 2017, the passenger vehicles segment acquired maximum revenue in the global automotive ECU market. The same year, Asia-Pacific procured the highest share in the global market.
As per the report, the expanding global automotive industry, as well as the increasing demand for passenger cars mainly drives the market growth. The imposition of stringent government regulations concerning vehicular emissions will also accelerate the adoption of electric vehicles, thereby supporting market growth.
The report further cites that the market is driven by the growing demand for ADAS systems, advancement in technology, and innovation in vehicles. Moreover, new developing markets, emerging consumer demographics, and burgeoning demand for vehicles would present lucrative growth opportunities for key players in the automotive ECU market in the near future.
Well-known players in the global automotive ECU market are investing heavily on research and development efforts and technological innovation in order to manufacture advanced products that can meet the evolving consumer demands. Also, the development of autonomous vehicles is substantially increasing the demand for automotive ECUs. In addition, the implementation of stringent regulations pertaining to vehicular emissions will boost the adoption of electric vehicles, which would also contribute to the global automotive ECU market.
On the basis of regional contribution, the report cites that the Asia-Pacific acquired the highest share in the global automotive ECU market in 2017. The key factors fueling regional growth include well-established automotive industry, high investment in R&D, and technological advancements. The nations within the region also follow stringent government mandates pertaining to vehicular safety and emissions, thereby promoting the adoption of automotive ECU in the region.
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The Asia Pacific market is primarily driven by India, China, and Japan, where economic growth, rapid advancement of the automotive industry, and high automotive modernization will escalate the demand for automotive ECU.
The eminent companies profiled in the report comprise of Lear Corporation, Denso Corporation, Continental AG, Hella KGaA Hueck & Co., Delphi Automotive PLC, ZF Friedrichshafen AG, Autoliv Inc, Robert Bosch GmbH, Infineon Technologies AG, and Hitachi Automotive Systems, Ltd. The growth strategies employed by these companies include new product launch and collaborations with other market leaders in order to innovate and introduce new products that meet the growing consumer demands.
The report also delivers a comprehensive analysis of the automotive ECU market drivers, restraints, and opportunities over the estimated timeline. An in-depth analysis of the market in terms of vehicle type, application spectrum, and regional landscape is also included in the report. Additionally, company profiles of market majors have been documented in the report under business overview, product benchmarking, financials, and recent developments.