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According to The Business Research Company’s Automotive ECU , The automotive ecu market size has grown strongly in recent years. It will grow from <b>$86.16 billion in 2023 to $91.53 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. </b> The growth in the historic period can be attributed to increasing demand for fuel-efficient vehicles, advancements in technology leading to more efficient and productive manufacturing practices
increasing adoption of electronic components in vehicles, growing demand for luxury and premium vehicles, increasing government regulations for vehicle safety and emissions.
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The automotive ecu market size is expected to see strong growth in the next few years. It will grow to <b>$117.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. </b> The growth in the forecast period can be attributed to growing demand for electric and hybrid vehicles, increasing adoption of autonomous and connected vehicles, rising demand for lightweight materials in vehicle manufacturing, growing focus on reducing carbon footprint in transportation, increasing government support for electric and hybrid vehicles. Major trends in the forecast period include electrification and hybridization, development of cybersecurity measures for ecus, increasing use of multicore processors in ecus, integration of machine learning algorithms in ecus, adoption of over-the-air (ota) software updates
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 Argonne National Laboratory, a US-based department of energy multidisciplinary science and engineering research center, in March 2021, Americans purchased 75,959 Hybrid-Electric Vehicles (HEVs). Further, according to International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric cars topped 6.6 million globally in 2021. . Therefore, the growth in demand for hybrid and battery electric vehicles is expected to boost demand for automotive ECU market solutions during the forecast period.
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The automotive ecu market covered in this report is segmented –
1) By ECU: 16-bit ECU, 32-bit ECU, 64-bit ECU
2) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, Electric Vehicle
3) By Mode: Conventional, AutonomousProduct 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 April 2021, DENSO Corporation, a Japan-based Automotive manufacturer, announced it has developed products for Advanced Drive, an advanced driver assistance technology. The newly developed products used in Advanced Drive include LiDAR for detecting the shapes of surrounding vehicles and roads, a Locator Telescopic Camera for detecting the environment ahead of the vehicle, an Spatial Information Service Electronic Control Unit (SIS ECU) for accurately identifying the position of the vehicle itself, and an Advanced Drive System Electronic Control Unit (ADS ECU) and Advanced Drive Extension Electronic Control Unit (ADX ECU) for high-speed processing of information delivered these products. The automotive ecu market report table of contents includes:
1. Executive Summary
2. Automotive ECU Market Characteristics
3. Automotive ECU Market Trends And Strategies
4. Automotive ECU Market – Macro Economic Scenario
5. Global Automotive ECU Market Size and Growth
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26. South America Automotive ECU Market
27. Brazil Automotive ECU Market
28. Middle East Automotive ECU Market
29. Africa Automotive ECU Market
30. Automotive ECU Market Competitive Landscape And Company Profiles
Top Major Players:
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