Report : South America Automotive ECU Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (ADAS and Safety System, Body Control and Comfort System, Infotainment and Communication System, and Powertrain System), Propulsion Type (Electric, Hybrid, and ICE), ECU Capacity (16-bit ECU, 32-bit ECU, and 64-bit ECU), and Vehicle Type (Heavy Duty, Medium Duty, and Light Duty)
Infotainment and Communication System Segment is Expected to be Fastest Growing During 2021–2028 for SAM Region
According to a new market research study on “SAM Automotive ECU Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application, Propulsion Type, ECU Capacity, and Vehicle Type” is expected to reach US$ 365.24 million by 2028 from US$ 283.77 million in 2021. The market is estimated to grow at a CAGR of 3.7% from 2021 to 2028. The report provides trends prevailing in the SAM automotive ECU market along with the drivers and restraints pertaining to the market growth. Mounting preference for electrification of vehicles and popularity of fully-autonomous cars are the major factor driving the growth of the SAM automotive ECU market. However, defects or operational failures in ECUs and high cost of ECU replacement hinders the growth of SAM automotive ECU market.
In case of COVID-19, SAM is highly affected especially Brazil. In addition to Brazil, countries such as Colombia, Ecuador, Chile, Peru, and Argentina are witnessing the adverse effects of the COVID-19 pandemic across various industries. Governments of countries in SAM have taken significant actions to protect their citizens and contain COVID-19 spread. The automotive ECY market in SAM is anticipated to face a steep decline as the majority of stimulus package deployed by the government were focused on public healthcare and tax relief. In addition, the online as well as retail distribution channels will face tremors due to disruptions in supply chains and non-availability of raw materials. The sharp decline in business activities and product sales are expected to directly affect the growth of the automotive ECU market in this region for the next three to four quarters.
The SAM automotive ECU market is segmented into application, propulsion type, ECU capacity, vehicle type, and country. Based on application, the market is divided into ADAS and safety system, body control and comfort system, infotainment and communication system, and powertrain system. The ADAS and safety system segment dominated the market in 2020 and infotainment and communication system segment is expected to be fastest growing during forecast period. By propulsion type, the market is broadly classified into electric, hybrid, and ICE. The ICE segment dominated the market in 2020 and electric segment is expected to be fastest growing during forecast period. On the basis of ECU capacity, the market is segmented into 16-bit ECU, 32-bit ECU, and 64-bit ECU. The 32-bit ECU segment dominated the market in 2020 and 64-bit ECU segment is expected to be fastest growing during forecast period. Whereas, based on vehicle type, the market is segmented into heavy duty, medium duty, and light duty. The light duty segment dominated the market in 2020 and heavy duty segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the Brazil, Argentina, and rest of SAM.
Aptiv PLC; Continental AG; Denso Corporation; Hitachi, Ltd.; Mitsubishi Electric Corporation; Pektron; Robert Bosch GmbH; and ZF Friedrichshafen AG are among the leading companies in the SAM automotive ECU market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Aptiv PLC and Hyundai Motor Group completed the formation of their 50/50 autonomous driving joint venture focused at advancing the two companies' shared mission of making mobility more safe, green, connected, and accessible. The joint venture is expected to benefit from Hyundai's design, engineering, and manufacturing expertise and Aptiv's specialization in autonomous driving solutions.
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