Automotive Electronics Control Management Market Size Expected to Attain USD 48.0 Billion by 2031, Growing at a 5.7% CAGR Amid Rising EV Adoption |Transparency Market Research Projection
Wilmington, Delaware, United States, Transparency Market Research, Inc. , Oct. 21, 2024 (GLOBE NEWSWIRE) -- The automotive electronics control management market (자동차 전자 제어 관리 시장) was estimated at US$ 29.2 billion in 2022. A CAGR of 5.7% is expected from 2023 to 2031, and the market is expected to reach US$ 48.0 billion by 2031. As technology advances, robotics and AI research increase, and electric vehicle sales rise, the automotive electronics control management market is expected to grow.
Security is becoming increasingly important in automotive electronics control management as vehicles become more connected and autonomous. Automobile electronics systems of the future must protect vehicles against cyber threats, protect data privacy, and ensure OTA updates are secure.
As the automotive industry shifts from a hardware-defined to a software-defined model, many of the functions traditionally provided by hardware are being replaced or enhanced by software. As a consequence, seamless integration, virtualization, and wireless updates require sophisticated electronic control architectures.
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Electronics in the automotive industry are closely linked to their future. As the automotive industry shifts toward EVs, electronics will play an increasingly important role in power management, battery systems, and connectivity. As the electronic control units become more complex, the automotive industry will adopt driver-assisted systems (ADAS).
To optimize powertrain management, automotive electronics control management uses information from multiple sources, such as advanced driver assistance systems, cloud-based applications, and connected vehicles. Through this integration, fuel consumption can be optimized based on route, resulting in improved efficiency.
Key Players Profiled
- Calsonic Kansei Corporation
- Continental AG
- Delphi Auto Parts
- Denso Corporation
- HELLA GmbH & Co. KGaA
- Hitachi Automotive Systems, Ltd.
- Hyundai Mobis
- Infineon Technologies AG
- Magneti Marelli S.p.A.
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- TREMEC
- ZF Friedrichshafen AG
Key Findings of the Market Report
- In 2022, Europe held the largest share of the automotive electronics control management market.
- In 2022, engine control modules held the largest share of the market
- Commercial vehicles are expected to drive the automotive electronic control management market.
- Data security is becoming increasingly important to vehicle owners, driving the automotive electronics control management market.
Global Automotive Electronics Control Management Market: Growth Drivers
- Automakers increasingly rely on electronic control management systems to manage the increasing complexity of automotive systems and provide cutting-edge features such as entertainment systems, driver assistance systems, and networking technology.
- To increase the performance of their vehicles and meet regulatory standards regarding fuel efficiency, emissions, and vehicle safety, automobile manufacturers mandate electronic control management systems.
- Developing autonomous driving and vehicle connections requires robust electronic control management systems. Due to their ability to connect external networks and sensors, these technologies are crucial to the market's growth.
- Incorporating electronic control management systems into vehicles enables seamless connectivity, enhanced user experiences, and customized features for consumers. In addition to improving comfort and convenience for drivers, these systems also enhance safety.
- Automotive engineers are constantly developing sophisticated electronic control management systems that enable safety technologies such as automatic emergency braking and adaptive cruise control to function effectively.
Automotive Electronics Control Management Market: Regional Landscape
- The automotive electronics control management market is expected to grow in Europe. Having sophisticated electronic control management systems is necessary in countries like Germany and France, which emphasize pollution regulations and vehicle safety.
- The stricter EU regulations concerning safety requirements and car emissions drive countries like Germany and France to adopt electronic control management systems.
- Electronic control management system sales are growing due to the adoption of advanced driver assistance systems (ADAS) in the United Kingdom. Increasing integration of connection solutions in cars drives demand for electronics for infotainment and telematics tasks.
- Germany's automotive industry relies heavily on electronic control management systems for efficiency and performance. Collaboration between automakers and IT businesses in innovation hubs such as Germany accelerates the development of advanced electronic control management systems.
- As research and development of autonomous vehicles continue to grow in the United Kingdom, the demand for sophisticated control systems that integrate sensors and make decisions is increasing.
- The integration and operation of connected car features will become increasingly important as demand for connected car features and services grows in European markets.
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Global Automotive Electronics Control Management Market: Competitive Landscape
Organic and inorganic expansion are common methods companies use in the global automotive electronics control management market.
Key Developments
- In August 2023, Continental enhanced its software development toolbox for automotive. A virtual cloud-based electronic control unit can be configured and run in the development environment of vehicle manufacturers, suppliers, and third parties with the future virtual ECU Creator software (vECU Creator), facilitating software development for hardware that does not yet exist in microcontrollers and processors.
Global Automotive Electronics Control Management Market: Segmentation
By Application
- Engine Control Module
- Transmission Control Module
- Brake Control Module
- Suspension Control Module
- Body Control Module
- ADAS Module
By Vehicle
- Passenger Vehicle
- Commercial Vehicle
- Electric Vehicle
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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