Automotive ECU Market Regional Outlook Opportunity Assessment and Potential of the Market by 2027
Rapid technological advancements in automotive transmission systems by manufacture boost the growth of the automotive ECU market. The shift in demand for fuel-efficient products with high performance is increasing the usage of automotive ECU, which is expected to drive the market growth in the coming years. Many automakers are now offering intelligent automotive ECU, which allows drivers to enhance their driving experience. Owing to the rapid increase in demand for automatic cars, particularly in nations such as China, India, Brazil, and Russia, the global automotive ECU market is predicted to grow significantly during the forecast period. The surge in per capita disposable incomes and consumer spending is propelling the demand for premium cars. Furthermore, the market expansion is accelerated by the surged technological developments and increased R&D activities.
Recently, the automotive ECU have materialized as a promising technique for achieving higher fuel economy, reduced carbon dioxide emission, and better handling ability. Automotive ECU has garnered impressive prominence amongst various vehicle OEMs, such as Audi, BMW, Mercedes, Volvo, and Opel. Automotive ECU has also been recognized by government agencies, as its use helps reduce fuel consumption and carbon emission. With the rising demand for hybrid and electric vehicles, the automotive ECU manufacturers are forced to boost the manufacturing of automotive ECU. The ECU in the vehicle send emergency alerts to the driver in case any malfunction occurred in the vehicle. Furthermore, the integration of IoT in the cars is the next big digital development that persists in the automotive industry. This fact will result in bringing another revolution via the introduction of autonomous vehicles. The self-driving cars/autonomous vehicles that integrate an automotive ECU to further boost the driving experience of the driver. The quick development of connected cars offers opportunities to both the automotive industry and tech companies. The factors described above of autonomous vehicles are projected to increase the use of automotive ECU in the vehicles.
The adoption of buses and trucks, specifically for logistics and public transportation purposes, is on the rise worldwide. In Asia, Oceania, and Europe, people opt for public transportation over personal vehicles, whereas, in North America, transportation is mainly through personal vehicles. The growing population in urban areas demands expanded public transportation with improvements in existing transportation infrastructure, proving to be insufficient. The OEMs across the world are now focusing on reducing the global carbon footprint by encouraging the use of electric vehicles. With the growing mobility on demand, passenger car and taxi manufacturers are focusing more on deploying greener technologies in these vehicles. This drives them to the field of electrification of vehicles, specifically passenger cars. Several countries worldwide are highly focused on building green transportation. For instance, in May 2019, the Ministry of Transport in China and various other ministries mutually issued the Green Travel Action Plan 2019–2022 to promote the production and use of green vehicles. The country would also continue to enhance public transportation facilities and information systems to support the adoption of the same.
Impact of COVID-19 Pandemic on Global Automotive ECU Market
The emergence and rapid spread of SARS-CoV-2 has paralyzed numerous countries, including developed as well as developing ones. A continuous surge in the count of infected patients is threatening several industries worldwide. COVID-19 has been affecting economies and industries in various countries as they had to enact due to lockdowns, travel bans, and business shutdowns in 2020 to contain the spread. Since a majority of countries are exercising lockdowns, the demand for automotive ECUs also decreased at a prominent rate. This is due to the fact that the key automotive ECU purchasing countries have been restricting their investment on these components to be able to utilize a fair percentage of their budget to combat the economic consequences of COVID-19. The temporary shutdown of manufacturing facilities also hindered the automotive ECU market growth in 2020. The continued spread of COVID-19 is likely to prove severely dangerous for the automotive ECU market players in 2021.
The automotive industry requires a significant number of human laborers on the contrary, the COVID-19 virus is spreading through human gathering, which is hampering the operations of the sector. Thus, the overall declining trajectory in the automotive sector is reflecting in the limited growth of the automotive ECU market.
Key Findings of Study:
The global automotive ECU market is segmented on the basis of application, propulsion type, ECU capacity, vehicle type, and geography. Based on application, the market is segmented into ADAS and safety system, body control and comfort system, infotainment and communication system, and powertrain system. In 2020, the ADAS and safety system segment led the market, accounting for the largest market share. By propulsion type, the automotive ECU market is segmented into electric, hybrid, and ICE. In 2020, the ICE segment led the market, accounting for the largest market share. Based on ECU capacity, the market is segmented into 16-bit ECU, 32-bit ECU, and 64-bit ECU. In 2020, the 32-bit ECU segment led the market, accounting for the largest market share. Based on vehicle type, the automotive ECU market is segmented into heavy duty, medium duty, and light duty. In 2020, the light duty segment accounted for the largest market share. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, APAC accounted for a significant share in the global market.
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