The new report by Expert Market Research titled, ‘Global Automotive Body Control Module Market Growth, Size, Share, Analysis, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global automotive body control module market, assessing the market based on its segments like types, vehicle types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 90%
The automotive body control module market is being driven by the thriving automotive industry in the emerging economies owing to the increasing demand for commercial and passenger automobiles.
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This can be attributed to the increasing standard of living, rising disposable income, rapid urbanisation, and increasing inclination of working-class population towards travel and leisure activities. The stringent government regulations in the automotive industry pertaining to the proper installation of airbags and lock system are anticipated to augment the market in the forecast period. In terms of region, North America accounts for a significant share in the market owing to the presence of advanced automotive infrastructure in the region, coupled with the growing expansion of the major automotive players.
Automotive Body Control Module Industry Definition and Major Segments
Automotive body control module, also known as body computer, refers to the fundamental components of an automobile which is a processor driven distribution centre that supervises and control various functions in an automobile including switching on lights, security, doors locks, windows, and access controls, among others. In other words, the automotive body control module integrates all the modules into one, thereby streamlining the manufacturing and troubleshooting aspects of electronic modules.
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On the basis of type, the market has been bifurcated into:
Based on vehicle type, the market has been segmented into:
- Passenger Car
- Commercial Vehicle
- Electric Vehicle
The significant applications of the product include:
The regional markets for automotive body control module include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Automotive Body Control Module Market Trends
The technological advancements in the automotive industry, coupled with the increasing sales of the electric vehicles, are likely to be the major trend in the global automotive body control module industry. The increasing complexity of automobiles and emergence of BCM embedded systems are anticipated to propel the demand for the product in the forecast period. Moreover, the rising cases of road accidents, drunk and reckless driving, and over speeding are some of the major factors which are likely to amplify the safety norms by the government. This factor will further aid the market in the forecast period.
Key Market Players
The major players in the market are Robert Bosch GmbH, Texas Instruments Incorporated, Continental AG, Infineon Technologies Ag, and HELLA GmbH & Co. KGaA, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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