Electric Vehicle ECU market is worth USD 42.74 Billion in 2027, says Emergen Research

Electric Vehicle ECU market is worth USD 42.74 Billion in 2027, says Emergen Research
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VANCOUVER – The global electric vehicle ECU market is expected to reach USD 42.74 Billion in 2027 and register a CAGR of 38.5% over the forecast period, according to the latest report by Emergen Research. Key factors driving market revenue growth are increased installation of infotainment systems and Advanced Driver-Assistance Systems (ADAS) and automated protection systems. In addition, increasing number of electronic components to perform more advanced functionalities of dashboard instruments, electric motors, telematics, and powertrain functions in electric vehicles is expected to continue to support market growth going ahead.

An Electric Vehicle (EV) is driven by an electric motor that is powered by batteries. The power is stored in the battery and a controller functions to deliver power to the electric motor. Power flow is regulated according to acceleration and desired speed the driver wishes to travel at.

Rising concerns related to rising greenhouse emissions and air pollution, as well as focus on reducing carbon footprint has resulted in a steady shift towards vehicles such as Alternative Fuel Vehicles (AFVs), electric vehicles, and hybrid and electric vehicles, including Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs)/Plug-In Hybrid Electric Vehicles (PHEVs). Electronic Control Units (ECUs) are used to control majority of functions of a vehicle including engine control, braking and safety systems, transmission, and even suspension.

Advancements in ECUs have resulted in deployment of more robust control as well as installation of smart on-board electronics in electric vehicles for electric drive and battery management. A transmission ECU is replaced with a battery management system and electric drive controller replaces engine ECU.

Supportive legislation from governments and regulatory authorities to enhance road safety is expected to continue to result in development and deployment of a variety of safety devices such as adaptive cruise control and front lighting, and anti-lock braking units. Increasing integration of electrical control units aid in reducing operation costs of EVs and steady production and adoption of electric vehicles is expected to revenue growth of the global electric vehicles ECU market to a significant extent over the forecast period.

ECUs enable avoiding unnecessary stress, heat, and over-heating in such vehicles, and particularly the power train. Also, the advent of advanced features such as in-car connectivity, power steering, and cruise control make integration of ECUs highly popular to ensure smooth functioning of EVs. However, ECU has a decentralized structure, and this is a key factor expected to impact deployment and result is re-development of other devices and units, and this could impact market growth to some extent.

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. They publish market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.

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