Global automotive ECU market is projected to be valued at USD 45.98 billion by 2020, as per a new research report by Radiant Insights, Inc. Rising use in infotainment systems coupled with high deployment in electric vehicles applications is expected to drive the global demand. Increasing adoption rate of electric vehicles due to growing awareness of energy efficiency vehicles is driving the global demand.
Escalating consciousness towards green technologies including eco-driver assist systems has assured a major role in many drive-assist products and has become prominent in the automotive industry. It helps in reducing CO2 emissions and dependency on fossil fuels, which in turn is anticipated to impact the industry positively. However, increasing complexities in the system is likely to pose a challenge to the industry participants.
Safety systems were the highest revenue generator application segment and was valued USD 8.70 billion in 2013. It is expected to witness significant gains, with estimate of USD 13.29 billion at a CAGR of 6.3% during the next six years. This system include airbags, keyless entry systems, anti-theft systems, pre-crash safety systems and tire pressure monitoring systems (tpms). It guards the consumers from the risk situations and also protects the vehicle from theft with the assistance of anti-theft systems. Communication & navigation is expected to be the fastest application segment valued at USD 3.04 billion, growing at a CAGR of 10.8% over the next few years.
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Key report insights suggest:
• Global automotive ECU market size was valued USD 29.23 billion in 2013 and is likely to reach USD 45.98 billion by 2020 growing with an estimated CAGR of 6.7% from 2014 to 2020
• Global demand in chassis electronics application segment was USD 6.88 billion in 2013 which is expected to reach USD 10.07 billion by 2020, growing at a CAGR of 5.6% from 2014 to 2020. Increasing need for comfort and convenience features in a vehicle is expected to boost the boost the global demand over the forecast period from 2014 to 2020.
• Asia Pacific dominated the regional demand with an estimated market share of 41.1% in 2013. Increasing awareness about safety in vehicles is expected to drive the regional demand over the next few years. North America is predicted to reach USD 13.43 billion by 2020 at a rate of 6.3%, owing to increasing investments in residential and commercial construction.
• Europe is expected to be the fastest growing region, growing at a CAGR of 7.3% up to 2020. The region is expected to grow at a higher rate owing to its leading position in the development and production of luxury cars.
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Global Automotive ECU Application Overview (Revenue, USD Billion, 2012 – 2020)
• Powertrain
• Chassis Electronics
• Safety & Security
• Entertainment
• Communication & Navigation
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