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Albany, New York, Feb. 19, 2019 (GLOBE NEWSWIRE) -- The competitive landscape of the global automotive electronics control management market is marked by increasing rivalry among the top players, finds Transparency Market Research. Key players consider it worthwhile to adopt a combination of strategies to stay ahead of others in the market. In particular, several of these players are making sizeable investments in research and development activities, with an aim on developing innovative products. This is also a potentially significant factor that has lowered the entry of small players. Nonetheless, relatively small players are making focusing on innovative solutions and competitive service models to put a stiff competition to large ones.
TMR reports that in the near future, technological innovations in the market from across all quarters are expected to diversify offerings in the market and further fuel competition. Prominent players operating in the global electronics control management market include Continental AG, Calsonic Kansei Corporation, Denso Corporation, Delphi Auto Parts, HELLA GmbH & Co. KGaA, and Hitachi Automotive Systems, Ltd.
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According to the report, the global automotive electronics control management market is expected to surpass US$ 80 Bn by 2026, expanding at 6.67% CAGR during the forecast period.
Region wise, North America, Europe, and Asia Pacific are expected to drive growth of the electronics control management market during the forecast period. Increasing R&D in AI and automation, increasing sales of electric vehicles, and large manufacturing companies located in the regions are expected to drive growth of the electronics control management market. Asia Pacific is expected to grow at 7%, the fastest CAGR in the global electronics control management market.
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Increasing demand for electric vehicles and growing trend of automotive electronics reflects well on Growth
Automotive electronics are gaining prominence in the automotive industry. The industry seems to be on the verge of a paradigm shift, wherein the mechanical systems are increasingly being replaced by electrical systems worldwide. This shift offers several benefits to drivers including adaptive cruise control, power steering, and on-demand connectivity. Major players in the automotive industry are also encompassing various sensors and complex wiring systems to keep up with modern consumer demand.
Fuel efficiency benefits, better data transfer, safety and better driving experience preferences are further expected to fuel growth of the electronics control management market.
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Rise in Adoption of Premium Vehicles Expected to Drive the Market
Growing demand for premium vehicles across the global market is expected to drive the electronics control management market. Increasing in disposable income, changing lifestyle preferences and inclination towards luxury cars is driving demand for premium vehicles. Premium vehicles contain several electronic control unit (ECUs). Hence, rise in their adoption coupled with growing innovations in technology would further fuel growth of the electronics.
Amidst concerns of global warming, governments around the world are pushing for cleaner energies. Increasing government programs to support green vehicles and reduce carbon emissions are also expected to drive growth of the electronics control management market.
The transmission control module segment is predicted to grow significantly during the forecast period. Effective use of quality sensors provides drivers with real-time information on transmission shifting and makes way for a smooth driving experience. Furthermore, growing demand for fuel-efficient cars is expected to drive the premium vehicle segment with the help of transmission control module.
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The global Automotive Electronics Control Management market has been segmented as follows:
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