New York, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive ECU Global Market Report 2022" - https://www.reportlinker.com/p06323478/?utm_source=GNW
Ltd., Magneti Marelli S.p.A., Pektron Group Ltd, Mitsubishi Motors Corporation, NXP Semiconductors N.V., and Calsonic Kansei Corporation.
The global automotive ECU market is expected to grow from $75.10 billion in 2021 to $79.92 billion in 2022 at a compound annual growth rate (CAGR) of 6.4%. The automotive ECU market is expected to grow to $99.47 billion in 2026 at a compound annual growth rate (CAGR) of 5.6%.
The automotive ECU market consists of sales of automotive ECU and related products by entities (organizations, sole traders, and partnerships) that are used for synchronizing all the electric systems in a vehicle including injection of the fuel and, in petrol engines, and the timing of the spark to ignite it.Automotive ECU refers to an embedded system that controls electrical subsystems in a transport vehicle.
Each ECU contains a dedicated chip, which runs its own software or firmware, and requires external power to operate.
The main types of ECU in automotive ECU include 16-bit ECU, 32-bit ECU, and 64-bit ECU. The 16-bit ECU refers to electronic control units that are useful when the sensors being used transmit data below 16 bits. 16-bit ECU refers to a computer hardware or software device that can send 16 bits of binary data. They are used in different vehicles ranging from passenger cars, light commercial vehicles, heavy commercial vehicles, and electric vehicles. They are used in both conventional and autonomous vehicles.
Asia Pacific was the largest region in the automotive ECU market in 2021, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the automotive ECU market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The automotive ECU market research report is one of a series of new reports that provides automotive ECU market statistics, including automotive ECU industry global market size, regional shares, competitors with an automotive ECU market share, detailed automotive seat market segments, market trends and opportunities, and any further data you may need to thrive in the automotive seat industry. This automotive ECU market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growth in demand for hybrid and battery electric vehicles is expected to propel the growth of the automotive ECU market going forward.Hybrid electric vehicles are powered by an internal combustion engine and one or more electric motors, whereas battery electric vehicles are completely dependent on electric motors.
The increasing shift in consumer interests toward eco-friendly transportation and growing government initiatives toward sustainable transportation solutions have contributed to increased demand for hybrid and electric vehicles across the globe.The rapid increase in demand for hybrid and battery electric vehicles is expected to boost the utilization of automotive ECU, as they are a vital component in the effective functioning of electric and hybrid vehicles.
For instance, according to a study published in International Energy Agency (IEA), a France-based intergovernmental organization, the global electric increased to 10 million units in 2020 which is an increase of 43% compared to the global car stock in 2019. Therefore, the growth in demand for hybrid and battery electric vehicles is expected to boost demand for automotive ECU solutions during the forecast period.
Product Innovation is a key trend gaining popularity in the automotive ECU market.The organizations providing automotive ECUs are increasingly focusing on developing low-cost ECUs that could give better services to their users and strengthen their market position.
For instance, in November 2020, Siemens, a Germany-based provider of automotive electronics solutions, launched vehicle cockpit consolidation solutions (VCO2S), comprehensive software systems, and hardware service offering that incorporates infotainment systems and instrument clusters on a single high-performance ECU with an emphasis on safety and security, automotive engineering teams can use VCO2S to reduce costs, accelerate time to market, and improve the user experience while meeting the automotive industry’s functional safety and stringent cybersecurity requirements.Customers can save space and money by integrating In-Vehicle-Infotainment (IVI) systems and instrument clusters on the same ECU with VCO2S.
VCO2S provides fundamental features such as software IP and services for a consolidated cockpit design. VCO2S Base is delivered as a reference design that can be ported to the target hardware of the customer.
In October 2019, Nidec Corporation a Japan-based provider of electric motors, acquired OMRON Automotive Electronics Co. Ltd., for an undisclosed amount. With this acquisition, Nidec Group is focused on expanding its business presence through new modules and systems products. Furthermore, both companies have a complementary relationship toward advanced driver assistance systems (ADAS). OMRON Automotive Electronics Co. Ltd. is a Japan-based automotive electronics manufacturer, operating in the automotive ECU market.
The countries covered in the automotive ECU market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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