The global Automotive Electronic Control Unit Market size is expected to reach USD 156.0 billion by 2030, expanding at a CAGR of 5.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Hybrid and battery-powered vehicle sales are increasing due to rising consumer demand for commutes that release less carbon and reduce air pollution. Demand for electronic regulating devices like automotive electronic control units (ECUs) is driven by the growing adoption of automated driving, advanced driver assistance system (ADAS), infotainment, and other chassis electronics in internal combustion engine (ICE), hybrid and battery-powered vehicles.
Additionally,
the growing preference of consumers for technically advanced luxury vehicles is
also anticipated to drive the growth of the automotive ECU market over the
forecast period. Moreover, the deployment of ADAS systems, driver assistance,
anti-lock brake systems, adaptable front lighting, and other features in
passenger cars and larger vehicles is mandated by governments in many
countries as part of attempts to improve road safety.
For
instance, in January 2023, Continental AG partnered with Ambarella, Inc., a
semiconductor design company. Collectively, the two businesses will create
scalable, all-encompassing software and hardware systems based on Artificial
Intelligence (AI) for supported and Automated Driving (AD) as a step
toward autonomous mobility. By incorporating Ambarella's energy-efficient
System-on-Chip (SoC) architecture into its ADAS systems, the two companies
will work together strategically. Additionally, customers' increasing demand
for luxury cars increases investment in R&D for automotive ECUs, which is
anticipated to provide new growth prospects for the market.
Automobile
manufacturers in the automotive electronic control unit market are being
encouraged to create and incorporate advanced systems into their vehicles
by the expanding demand for personal vehicles and the rising disposable income
of consumers in emerging countries around the world. They are implementing
advanced automotive electronic systems for managing and maintaining the
performance of these systems, which is anticipated to drive the market's
expansion for automotive electronic controls.
For
instance, in March 2022, Vitesco Technologies, an automotive company, partnered
with Vector Informatik, a software tools manufacturer. The partnership aims to
expedite software development in the area of coordinated vehicle movement using
a centralized master controller. A central vehicle management system based
on hardware and software that is almost ready for production is
already being created for a significant German automaker as part of the ongoing
partnership deal between Vitesco Technologies and Vector.
However,
the rise in faults in automotive electronic control units in vehicles, causing
unintended interruptions and serious accidents, is having a detrimental impact
on the market for automotive electronic control units. Additionally, it is
estimated that the market's growth would be constrained by the high prices
associated with the programming and installation of electronic control units as
well as the repair of electronic control units. These factors are expected to
hamper the growth of the automotive electronic control unit industry.
Related Press
Release@ Automotive Electronic Control Unit Market Report
Automotive Electronic Control Unit Market Report
Highlights
- The growing
popularity of ADAS, including parking assistance, Adaptive Cruise Control
(ACC), and Automatic Emergency Braking (AEB), has been driving the market
growth
- The 32-Bit
dominated the market with a revenue share of over 41.2% in 2022 due to the
rising demand for these parts owing to their benefits, including
reduced design intricacy and low energy usage
- The
increased popularity of luxury vehicles, growth in disposable income, and
an improvement in consumer lifestyle have been propelling the development
of the passenger vehicle segment
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment