Automotive Connectivity Control Unit Market Set to Reach US$ 11.7 Billion by 2032 Driven by Luxury Car Demand and Electronics Innovation

As per the report published by FMI, the global automotive connectivity control unit market is projected to have a rapid-paced CAGR of 10.5% during the forecast period. The current valuation of the market is US$ 4.32 Billion in 2022. The market value of automotive connectivity control units is anticipated to reach a high of US$ 11.7 Billion by 2032.

Automotive connectivity control units are gaining rapid traction as it is closely knitted with the rising demand for luxurious cars, coupled with innovations in the electronics sector. A shift in the consumer preference towards cars having incredible potential in the future automotive industry is fueling the demand for the product further.

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According to the findings of Future Market Insights, an unprecedented surge in demand for Battery Evs BEVs) and Hybrid Evs (HEVs) are a factor enhancing the market growth. In addition, the rise in the need for Advanced Driver Assistance Systems (ADAS) in amalgamation with significant improvements and convenience norms are likely to expedite the market growth rate for automotive connectivity control units.

The expert analysts anticipate at FMI that over the last few years, automotive electronics and wireless technologies have grown by leaps and bounds. Innovation, device convergence, and changing lifestyles enable automobiles to extend the driving experience beyond traditional vehicle transport. However, it is projected that the high cost of technology and technical failures may cause intermittent faults in the vehicle, and expensive repairs are likely to restrain the market growth to a great extent.

FMI has analyzed that the electronic control unit (ECU) remapping in the vehicles is jigging up the latest trends prevailing in the global automotive connectivity control unit market. The car manufacturers are maximizing their efforts toward the smooth functioning of the vehicles, improving fuel efficiency, and incorporating turbocharged engines for better engine 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

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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

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About Future Market Insights (FMI) 

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.