According to the report published by Future Market Insights (FMI), the global automotive connectivity control unit market is expected to experience robust growth, with a projected CAGR of 10.5% over the forecast period. Valued at USD 4.32 billion in 2022, the market is anticipated to reach approximately USD 11.7 billion by 2032.
The rising demand for luxury vehicles and advancements in electronics are significantly driving the growth of automotive connectivity control units. The shift in consumer preferences towards high-tech vehicles with advanced features is further fueling market demand.
The report highlights that the surge in demand for Battery Electric Vehicles (BEVs) and Hybrid Electric Vehicles (HEVs) is a key factor contributing to market growth. Additionally, the increasing adoption of Advanced Driver Assistance Systems (ADAS) and advancements in convenience features are expected to accelerate the expansion of the automotive connectivity control unit market.
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Experts at FMI note that automotive electronics and wireless technologies have seen substantial advancements in recent years. Innovations and device convergence are extending the driving experience beyond traditional transportation. However, challenges such as high technology costs, potential technical failures, and expensive repairs could constrain market growth.
FMI also identifies electronic control unit (ECU) remapping as a significant trend in the automotive connectivity control unit market. Car manufacturers are focusing on enhancing vehicle performance, improving fuel efficiency, and incorporating turbocharged engines to ensure optimal functioning and performance.
Key Takeaways from the Automotive Connectivity Control Unit Market
- Asia Pacific region is projected to dominate the global automotive connectivity control unit market with a market share of 41.68%.
- The Passenger Cars segment of the Vehicle Type section led the market with a share of 60.11% in the automotive connectivity control unit market.
- The ICE segment led the market with a 70.12% share of the Propulsion sector.
- The 32 Bit segment has accounted for the highest market share of 40.34% for the capacity sector in the year 2021.
- The Powertrain segment for the Application sector held 26.23% of the market share in the base year.
“The increasing demand for safety features among the millennials, coupled with the rising need for up-gradation, safe, and comfortable driving experience in future vehicles altogether is majorly going to contribute in propelling the market growth of automotive connectivity control units in the global forum” – Says an FMI Analyst
Competition Landscape in the Automotive Connectivity Control Unit Market
The market can be described as a competitive market. The key companies have adopted several strategies to broaden their customer base worldwide. Furthermore, companies are adopting various innovative technologies and investing a hefty amount in research and development to introduce new products and enhance their offerings.
The automotive manufacturers are also integrating ECU, which offers enhanced vehicle performance and comfort.
Robert Bosch, Autoliv, Z.F. Friedrichshafen, Delphi Technologies, and Toyota are key players in the market.
Recent Developments in the Automotive Connectivity Control Unit Market:
- On 30th August 2022, Siemens collaborated with Nissan to enrich its production lines at its plant located in Tochigi, Japan. The companies announced that the production of high-technology equipped automobiles requires high-performing ECUs/Electronic-Control Units. Hence it is necessary for Siemens and Nissan to evaluate their software portfolios in order to optimize the design and efficacy of the ECU systems, which in turn will yield a huge growth in revenue for the organizations.
- On 27th April 2022, AISIN, one of the world’s largest OEM manufacturers, joined hands with Nissan for the improvisation of its technologically advanced AUTOSAR ECU. AUTOSAR provides a number of features like electronic architecture, transfer functions of control units, etc., which can substantially improvise the efficacy of the software development, which in turn will adequately check the efficiencies and integrate each ECU unit.
- In March 2021, Bosch mobility solutions developed a V2X connectivity control unit which is the center for connectivity functionality in commercial vehicles. It enables commercial vehicles to communicate with one another and with objects in the immediate surroundings.
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Key Segments Profiled in the Automotive Connectivity Control Unit Industry Survey
Product Type:
- External Vehicle Communication Control
- In-Vehicle Communication Control
Vehicle Type:
- Passenger Vehicle Automotive Connectivity Control Unit
- Light Commercial Vehicle Automotive Connectivity Control Unit
- Heavy Commercial Vehicle Automotive Connectivity Control Unit
Sales Channel:
- Original Equipment Manufacturer (OEM)
- Aftermarket
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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