Global Automotive Braking System ECU Market 2019-2023 | Improved Braking Performance to Boost Demand | Technavio
LONDON--(BUSINESS WIRE)--Nov 20, 2018-- analysts forecast the global automotive braking system ECU market to grow at a CAGR of over 7% during the forecast period, according to their latest market research report.
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Technavio has released a new market research report on the global automotive braking system ECU market for the period 2019-2023. (Graphic: Business Wire)
The emergence of brake-by-wire system is one of the major trends being witnessed in the . The global automotive industry is witnessing technological developments and innovations that are helping the industry to remain environmentally sustainable. The need for higher fuel efficiency, greater application of eco-friendly systems, simplified system assembly, lightweight materials, and improved safety systems has led to the development of advanced braking systems.
According to Technavio analysts, one of the key factors contributing to the growth of the global automotive braking system ECU market is the improved braking performance and brake effectiveness with the integration of ECUs:
Global automotive braking system ECU market: Improved braking performance and brake effectiveness with the integration of ECUs
An automotive braking system forms an integral part of a vehicle and also serves as the key safety parameter. The global automotive industry has witnessed a shift from mechanical braking systems to hydraulic, electro-hydraulic, and all-electric braking systems. The use of ECUs in automotive braking systems has increased over the years, and current braking systems are finding greater use of ECUs. ECUs in braking applications have improved the overall effectiveness of braking systems and are driving the market forward.
According to a senior analyst at Technavio for research on automotive components, “ECU applications in automotive braking systems have increased the performance characteristics of a vehicle’s braking system. ECUs in braking systems and associated braking functionalities continuously monitor vehicle speed, acceleration, braking force, and other parameters with the help of either sensor, radar, or lidar. The use of ECUs in automotive braking, thus, has helped in making braking more precise and accurate.”
Global automotive braking system ECU market: Segmentation analysis
The global automotive braking system ECU market research report provides market segmentation by application (passenger vehicles and commercial vehicles), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The passenger vehicles segment held the largest market share in 2018, accounting for nearly 86% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2018 with a market share of over 54%. This region is expected to dominate the market through 2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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