Global Automotive Engine Management Systems Market: Snapshot

In the last few years, the automotive industry has been growing at a strong pace, thanks to which the global market for automotive engine management system is expected to gain traction in the near future. The rising focus of the leading players on new technology and innovations and upgradation, which is expected to support the growth of the global market in the next few years. In addition to this, the rise in the number of strategic collaborations and mergers and acquisitions is predicted to encourage the market growth and enhance the competitive environment of the automotive engine management system market in the coming few years.

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Rising Sales of Automobiles to Enhance Market Growth in Near Future

The global market for automotive engine management systems is expected to grow at a healthy pace in the next few years. According to the market research study by Transparency Market Research, in 2014, the global market for automotive engine management system was worth US$145.1 bn and is predicted to reach a value of US$210.6 bn by the end of 2021. The market is likely to register a promising 5.50% CAGR between 2015 and 2021.

The improvement in the vehicle performance and the strict emission and fuel economy standards are considered as the key factors expected to enhance the growth of the global automotive engine management system market in the near future. The increasing focus on research activities and advancements in this field are projected to support the growth of the market in the coming few years. On the other hand, the high cost of the system is estimated to hamper the growth of the overall market in the near future. Nonetheless, the replacement of ECU due to the rise in the average life of vehicles is likely to enhance the market growth and offer potential growth opportunities for the market players in the next few years.

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Europe to Lead Global Automotive Engine Management Systems Market

Among the key regional segments, Europe led the global automotive engine management systems market in the last few years and is projected to maintain its dominance in the coming years. The presence of a large number of leading automotive companies is one of the key factors estimated to enhance the growth of the Europe market in the next few years. With the rising manufacturing and sales of automobiles, the market is expected to witness a promising growth in the coming few years. Furthermore, Asia Pacific is expected to observe a healthy growth in the next few years, thanks to the rise in the sales of automobiles and the increasing disposable income of consumers, especially in developing economies.

The global market for automotive engine management systems is highly competitive in nature and holds immense growth potential in the coming few years. The key players in the market are emphasizing on the development of new products and technological advancements, which is likely to support the growth of the market in the near future. In addition to this, the rising mergers and acquisition is predicted to enhance the growth of the market in the coming years. Some of the key players operating in the automotive engine management system market across the globe are Sensata Technologies, Continental AG, Robert Bosch GmbH, BorgWarner Inc., Infineon Technologies AG, Delphi Automotive PLC, Hitachi Automotive Systems Ltd., and Denso Corporation.