Transparency Market Research, a leading market intelligence firm, has released a new market study. The report, titled ‘Automotive Electronics Control Unit Management (ECU/ECM) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020, studies the market in detail and presents forecasts for the market’s development in the given forecast period.According to the study, the global automotive electronics control unit management market was worth US$28.6 billion in 2013 and will rise at a sturdy CAGR of 6.3% to US$43.72 billion by 2020. Worldwide rise in the demand for automobiles and increasing ability of consumers to afford advanced automotive electronic systems are the major growth drivers of the market.
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The automotive industry is booming at present, thanks largely to ever-growing demand from the middle class in Asia Pacific economies. China, in particular, has a rapidly developing domestic automotive industry, and India and Indonesia are hot on its heels. The Japanese and South Korean automotive industries have already made a mark on the global automobile world, leading to strong growth prospects for the automotive electronic control unit management market.“The distinguishing feature of the automotive industry in Asia Pacific is the shift from the popular perception of the car as a white good to a luxury purchase. Increasing financial ability of Asia Pacific customers has allowed the automotive electronics control unit management market to prosper in recent years and the growth is set to continue in the near future,” said TMR’s lead analyst.
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The report’s application-wise segmentation of the global automotive electronics control unit...