Transparency Market Research has published a new report titled, “Global Automotive Electronics Control Management Market [Application Type: Engine Control Module, Transmission Control Module, Brake Control Module, Suspension Control Module, Body Control Module, ADAS Module; Vehicle Passenger Vehicle, Commercial Vehicle and Electric Vehicle] – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” According to the report, the global automotive electronics control management market is projected to surpass US$ 80 Bn by 2026, expanding at a CAGR of above 6% during the forecast period.
According to the report, the global automotive electronics control management market is likely to be driven by a range of macroeconomic and industry-specific factors. Asia Pacific is expected to be at the forefront of global demand, with the market in the region expanding at a CAGR of more than 7% between 2018 and 2026.
Automotive electronics have been gaining popularity in the automotive industry. The complete shift from mechanical systems to electrical systems in the automotive industry, such as power steering, adaptive cruise control, and in-car connectivity are likely to increase the demand for electronic control unit in modern cars. Premium vehicle manufacturers are introducing latest technologies, which consist of sensors and complex wiring system. Demand for electronic control units is expected to rise significantly during the forecast period in order to avoid complex design and for enhanced electric connections along with better data transfer.
Increased fuel efficiency demand along with growing safety preference and adoption of latest technologies by OEMs to provide better driving experience anticipated to expand the use of electronic control unit during the upcoming days. Furthermore, growing sales of premium vehicle across the globe due to change in lifestyle, increased per capita income, and inclination toward luxurious cars likely propel the demand for electronic control unit.
Premium vehicles are integrated with several latest technologies and hence, these vehicles contain numerous electronic control unit (ECUs). Therefore, rise in adoption of premium vehicles is a key factor that is likely to drive the automotive electronics control management market during the forecast period. Increasing adoption of electric vehicles owing to government policies regarding minimum carbon emission, incentive policies by governments, and focus toward green transportation are anticipated to drive the automotive electronics control management market during the forecast period.