Automotive Electronic Control Unit (ECU) Market to Expand with Significant CAGR During 2014-2022

Automotive Electronic Control Unit Market is expected to reach $49,893 million by 2022 from $32,054 MN in 2015, growing at a CAGR of 6.6% from 2016-2022.

PORTLAND, OR, UNITED STATES, October 11, 2021 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, Automotive Electronic Control Unit Market by Technology and Application: Global Opportunity Analysis and Industry Forecast, 2014-2022, the global automotive electronic control unit (AECU) market is estimated to reach $49,893 million by 2022 from $32,054 million in 2015. Asia-Pacific accounted for the highest share in 2015, and is anticipated to maintain its dominance throughout the forecast period.

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Major Market Players: Delphi Automotive PLC (UK), Hyundai Mobis Co. Ltd. (South Korea), Panasonic Corporation (Japan), Lear Corporation (U.S.), Hitachi Automotive Systems Ltd. (Japan), Magneti Marelli Spa (Italy), and Pektron Group Limited (UK)

AECU is a type of embedded system that is used to control electrical components in vehicles. The global AECU market is anticipated to witness significant growth during the forecast period, owing to increase in demand for automotive, developments related to manufacturing of low-cost ECUs, and rise in demand for advanced features in vehicles. The market growth is driven by rise in demand for electric & hybrid electric vehicles and need for advanced driver assistance features. However, increase in complexity of automotive ECU hampers the market growth.

Power steering system was the dominant segment, accounting for 20.92% share of the total market in 2015, and is anticipated to maintain its dominance throughout the forecast period. Engine management system market is anticipated to witness the highest growth rate of 7.5% in the near future

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Key Findings of the Automotive Electronic Control Unit Market:
• In 2015, power steering system segment led the overall AECU market, and is projected to grow at a CAGR of 5.7% during the forecast period.
• Passenger car segment dominated the market in 2015, and is projected to grow at a CAGR of 6.3%.
• Asia-Pacific accounted for the largest market share in 2015, and is anticipated to grow at a CAGR of 7.6%.

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About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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