Europe Automotive Electronic Control Unit Market to amass huge gains by 2024 due to increasing demand for driving assistance systems in modern vehicles.
Pune, Maharashtra -- (SBWIRE) -- 05/09/2019 -- Graphical Research has launched a report on Europe Automotive Electronic Control Unit Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.
The increasing demand for driving assistance systems in modern vehicles is driving the Europe automotive ECU market. Due to increasing accidents and road fatalities, regional governments are mandating the integration of ADAS and safety systems in vehicles.
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These factors along with a growth in the disposable income of consumers and spending capacity on luxury products is contributing to the industry expansion. Moreover, the presence of several leading auto makers in countries including Italy, Germany, etc. is accelerating the production of luxury and passenger cars in the region, which further creates impetus for the industry growth.
32-bit components in the Europe automotive ECU market are expected to witness high popularity over the forecast timeline owing to advanced vehicle system requirements. Innovations in automobile systems such as automated and connected features require efficient vehicle communication and high processing speeds, which are not supported by the conventional 8-bit & 16-bit units.
As a result, OEMs are increasingly deploying 32-bit control units that provide several benefits such as extended power provisions, reduced design complexity, etc. Moreover, reasonable costs of these components and added features are major factors creating a demand for 32-bit control units in the Europe automotive ECU market.
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In Europe automotive ECU market, BEVs and HEVs are predicted to gain rapid traction due to the deployment of efficient energy management systems in these vehicles. Several control units are utilized in systems including engine management, drivetrain, powertrain, etc. further boosting the industry demand.
Europe Automotive Electronic Control Unit (ECU) Market, By Mode
- Autonomous vehicles
- Conventional vehicles
- Semi-autonomous vehicles
Moreover, the growing sale of battery and electric cars to control carbon & hazardous gaseous emissions save fuel costs and is expanding the demand for several control units. Implementation of automated functions in batteries and electric vehicles for offering advanced features creates the need for such efficient control units and accelerates their consumption.
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In the Europe automotive ECU market, the prominent companies include Bosch Group, Denso Corporation, Continental AG, Hyundai Mobis, Lear Corporation, Hitachi Automotive Systems, Mitsubishi Electric Corporation, Delphi Technologies, etc.
To survive in such a highly competitive industry, companies are adopting various product development & design innovation strategies. Additionally, these companies have developed several dealerships and distribution networks globally to gain profits & strengthen the industry presence.
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