The global Automotive ECU Market is briefly further segmented into application, propulsion type, ECU capacity, vehicle type, and geography. Based on application, the global market is divided into ADAS and safety system, body control and comfort system, infotainment and communication system, and powertrain system. By propulsion type, the global market is broadly classified into Electric, Hybrid, and ICE. On the basis of ECU capacity, the market is segmented into 32-bit ECU and 64-bit ECU. Whereas, based on vehicle type the market is segmented into heavy duty, medium duty, and light duty.
The growth trajectory of fully-autonomous cars depends upon parameters such as improvements in technology landscape, consumer preference to adopt ICE cars, pricing and the ability of suppliers and OEMs to address the critical concerns related to the safety of vehicles. As a result, companies in the automotive industry are continuously focusing on improving and integrating robust technologies in cars as well as negotiating the prices of raw materials. This factor is expected to trigger the adoption of automotive ECUs in these vehicles the coming years for optimizing vehicle safety and performance, thus contributing to the automotive ECU market growth.
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Rapid technological advancements in automotive transmission systems by manufacture are anticipated to boost the growth of the market. Furthermore, due to the shift in demand for fuel-efficient products with higher performance, the market is expected to be driven by the increasing usage of automotive ECU. 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 emerging nations such as China, India, Brazil, and Russia, the global automotive ECU market is predicted to grow significantly. The surge in per capita disposable incomes and consumer spending is responsible for this massive demand of premium cars. Furthermore, the market expansion is accelerated by technical developments and increased R&D activity.
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The significant decline in sales further hampered vehicle production, thereby lowering the demand for automobile components, which, in turn, hindered the growth of the automotive ECU market in Europe. Similarly, vehicle and automotive component manufacturers in Asia Pacific witnessed a steep fall in production and demand due to the impact of COVID-19 on the global supply chains and people’s spending capacities. Severe shortage in the supply of microprocessors and semiconductors used in ECUs reduced the production and sales volume of key players operating in the region. Therefore, after the initial negative impact of the COVID-19 pandemic on the global automotive ECU market, it is recovering at an accelerating rate.
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