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Pune, India, Oct. 07, 2022 (GLOBE NEWSWIRE) — The global Automotive Electronic Control Unit Market was USD 53.13 billion in 2021. The global market size is expected to be grow from USD 58.31 billion in 2022 and reach USD 94.58 billion by 2029, exhibiting a CAGR of 7.2% during the forecast period from 2022-2029. This information is provided by Fortune Business Insights, in its report, titled, “Automotive Electronic Control Unit Market, 2022-2029.”
According to our analysts, the factors such as rising adoption of integrated automotive electronic control units (ECU) and increasing emphasis on vehicle owner data protection are vital factors that stimulate the market’s growth.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 7.2% |
| 2029 Value Projection | USD 94.58 Billion |
| Base Year | 2021 |
| Market Size in 2022 | USD 58.31 Billion |
| Historical Data for | 2018 – 2020 |
| No. of Pages | 200 |
| Segments covered | By Vehicle Type, By Application, and By Region |
| Growth Drivers | Rising Adoption of Integrated ECUs to Fuel Market Growth |
| Asia Pacific to Dominate Market Due to Escalating Demand for Passenger Cars |
COVID-19 Impact Analysis-
Global Market Growth to Slow Down Amid Pandemic
The global coronavirus pandemic dampened the global automotive industry’s growth. The demand for automotive ECU declined due to low production and sales of vehicles. The declined consumer demand due to high unemployment rates and financial crisis affected the market growth. Nonetheless, resuming operations and improving vehicle sales are helping the market gain momentum. The market is likely to gain striking growth in the coming years.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:
Read on GNW: Automotive Electronic Control Unit Market Size Worth USD
