According to the Market Statsville Group (MSG), the global smart vehicle control unit market size is expected to grow from USD 59.7 billion in 2021 to USD 98.8 billion by 2030, at a CAGR of 7.6% from 2022 to 2030.
The market is being driven by the increased demand for high-end vehicles as well as technological advancements in the electronics industry. Other factors boosting demand for automobiles with better gas mileage among consumers and a number of government mandates to reduce fuel consumption include (ECUs). The market has been expanding due to the rising demand for Automotive Driver-Assisted System (ADAS) technology, which includes parking assistance, Adaptive Cruise Control (ACC), and Automatic Emergency Braking (AEB). The shift in consumer preference toward alternative vehicle options, like hybrid and battery electric vehicles, in developed countries has also made a significant contribution to the expansion of the smart vehicle control unit market. Factors promoting the industry's growth include the comfort of driving, the safety of drivers, security concerns, and low maintenance.
Recently, various control units have been added to modern vehicles to enhance performance. For the consistently run of the I.C. engine, the smart vehicle control unit controls several actuators on the engine. It regulates coolant temperature, engine speed, and the amount of oxygen in the exhaust. For instance, Mercedes-Benz outfitted all of its E-class models in 2017 with the new advanced central powertrain controller and the plug-in hybrid model. It serves as a connection point for the powertrain's various control units and can control additional pieces of machinery. The control unit has been modified to accommodate connected and electrified powertrains.
The globally integrated automotive industry has experienced an immediate and severe impact as a result of the COVID-19 pandemic. Lockdown procedures have a number of negative effects, such as the suspension of new facility construction and the disruption of current production. Despite a potential gradual recovery of production and consumption to the prepandemic level with the lifting of lockdown restrictions, the delay of production capacity expansion during a pandemic can be irreversible and thus affect the supply in the long run. The suspension of Chinese part exports, widespread manufacturing halts in Europe, and the closure of American assembly plants are instances of symptoms. This has put a lot of pressure on an industry already dealing with a change in global demand, which will probably lead to more mergers. However, the demand for autonomous vehicles will lead to tremendous growth for the smart vehicle control unit market over the forecast period.
Autonomous cars need sensors, actuators, sophisticated algorithms, machine learning systems, and potent processors for an efficient driving experience. Based on a variety of sensors positioned throughout the vehicle, autonomous cars build and update a map of their surroundings. Radar sensors keep track of the locations of nearby automobiles. Traffic lights, road signs, other vehicles, and pedestrians are all detected by video cameras. Lidar (light detection and ranging) sensors measure distances, find road edges, and recognize lane markings by reflecting light pulses off the environment around the car. When parking, ultrasonic sensors on the wheels pick up on curbs and other cars. The growing number of autonomous vehicles has long piqued the general public's interest, increasing the demand for smart vehicle control units. This formerly science fiction-sounding concept is now much more attainable due to recent sensors and artificial intelligence advancements.
Failure of the smart vehicle control unit could render the timing and fuel settings of the engine invalid, which would have a negative impact on the vehicle's performance. This could result in intermittent car problems like a fire or stall. Smart vehicle control unit failure could impact fuel efficiency, acceleration, and power reduction. Due to the complexity of the control units, many interrelated controls interact with one another. Therefore, if the control unit fails, complexity may occur for vehicles to be operated. Largely, there is no auxiliary backup to account for human error because the car with a vehicle control unit function has no additional cost burden. As a result, a defective control unit could result in fatal issues like airbags activating unnecessarily. These unit failures result in increased costs for consumers. As a result, this might prevent the market for automotive body electronics from expanding.
Recently, highly distributed control units have been installed in vehicles. Due to the electronic equipment in cars, each smart vehicle control unit has specific functional requirements, and as a result, each control unit’s corresponding hardware components (such as wiring, computing platforms, and sensors) have grown more complicated. For instance, most vehicles have more than 125 control units, which take up a lot of room inside the car. The integrated smart control unit can serve as a single unit for the tasks of multiple control units. Control units from various fields function in integration in accordance with general requirement specifications. The in-car experience includes a dashboard, head-up display, rear-seat entertainment, and support for augmented reality (AR). Due to their complexity, smart vehicle control unit call for mobile communications, high-performance graphics, and data streaming. By combining these tasks, it will be possible to do away with the need for a graphics processing unit (GPU), a camera, and broadband network interference. As a result, the market for smart vehicle control units will grow due to the rising adoption of integrated control units in passenger vehicles.
The study categorizes the smart vehicle control unit market based on vehicle type, and application area at the regional and global levels.
Passenger Cars segment accounts for the largest market share during the forecast period by vehicle type
Based on the vehicle type, the market is bifurcated into passenger car, light commercial vehicle, heavy commercial vehicle and electric vehicle. The passenger car segment accounted for a larger revenue share in 2021. The main factors propelling the market's expansion are the rise in demand for passenger cars brought on by the surge in the population of middle-income groups and the rising standard of living in emerging nations. The availability of affordable options in these vehicles is another factor influencing consumer preference for them. Market expansion is accelerated by the rise in technological developments, such as incorporating all-EV charging station systems with the Internet of Things (IoT) and real-time information solutions. The technologies locate nearby charging stations and offer real-time data on the number of open spots.
Based on the regions, the global smart vehicle control unit market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific is expected to witness the highest market share in 2021 due to the increasing demand for passenger cars in this region, which is driven by an increase in people's disposable income, it will continue to hold its position of dominance over the forecasted period. The market for smart vehicle control units in North America will expand steadily as more standard vehicles are equipped with safety features. The region's electric vehicle smart control unit market is anticipated to grow as more electronic systems are installed in SUVs, light commercial vehicles, and passenger cars.
In addition, Europe's market share for smart vehicle control units will increase significantly. There are numerous luxury car manufacturers in the region, and their cars incorporate various cutting-edge electronic components and sensors. This is anticipated to be the most important factor influencing the expansion of the market in this area.
The smart vehicle control unit market is extremely cutthroat, and significant competitors in the sector are using tactics including product development, collaborations, acquisitions, agreements, and growth to bolster their market positions. Most sector businesses focus on growing their operations worldwide and cultivating long-lasting partnerships.
Major key players in the global smart vehicle control unit market are:
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