Automotive Electronics Control Unit Management (ECU/ECM) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, NY -- (SBWIRE) -- 03/31/2016 -- Transparency Market Research, a leading market intelligence firm, has released a new market study. The report, titled 'Automotive Electronics Control Unit Management (ECU/ECM) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020, studies the market in detail and presents forecasts for the market's development in the given forecast period.According to the study, the global automotive electronics control unit management market was worth US$28.6 billion in 2013 and will rise at a sturdy CAGR of 6.3% to US$43.72 billion by 2020. Worldwide rise in the demand for automobiles and increasing ability of consumers to afford advanced automotive electronic systems are the major growth drivers of the market.
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The automotive industry is booming at present, thanks largely to ever-growing demand from the middle class in Asia Pacific economies. China, in particular, has a rapidly developing domestic automotive industry, and India and Indonesia are hot on its heels. The Japanese and South Korean automotive industries have already made a mark on the global automobile world, leading to strong growth prospects for the automotive electronic control unit management market."The distinguishing feature of the automotive industry in Asia Pacific is the shift from the popular perception of the car as a white good to a luxury purchase. Increasing financial ability of Asia Pacific customers has allowed the automotive electronics control unit management market to prosper in recent years and the growth is set to continue in the near future," said TMR's lead analyst.
The report's application-wise segmentation of the global automotive electronics control unit management market bears this out, as passenger cars have emerged as the dominant sector, followed by the application of automotive electronics control unit management in commercial and utility vehicles. Forecast is provided for all three applications segments of the automotive electronics control unit management market through 2020.
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Power steering is the leading technology demanded from the automotive electronics control unit management market. The ease power steering brings about in driving makes it a worthwhile purchase for most if not all first-time consumers. Other automotive electronics control unit management technologies studied in the report include engine management system, which is also becoming a staple on most production cars, climate control system, ABS, transmission control system, body control system, and airbag restraint system.
Though the global automotive electronics control unit management market has strong growth potential in Asia Pacific, Europe remains the global leader at present. The established base of the automotive industry in Central Europe and the U.K., allied to strict compliance laws aimed at making driving safer and more convenient, is the factor driving the Europe automotive electronics control unit management market. Current and projected market sizes of the following regional segments of the global automotive electronics control unit management market are provided in the report: Europe, Asia Pacific, North America, and Rest of the World.
In terms of competitive landscape, the report utilizes top-notch analytical tools to examine the relative strength of each major player in the automotive electronics control unit management market. Some of the companies profiled in the report are Denso Corporation, GM, Robert Bosch, Delphi Automotive, Panasonic Corporation, and Continental AG.
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