LONDON--(BUSINESS WIRE)--Technavio estimates the global automotive body control module market to grow by USD 0.71 billion, progressing at a CAGR of over 1% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
The market is driven by the availability of multiple scalable BCMs for different vehicle categories. However, data security concerns might challenge growth.
Automotive Body Control Module Market: Application Landscape
Based on the application, the market saw maximum growth in the passenger cars segment in 2019. The segment is driven by the increasing penetration of electronic components in vehicles and the rising awareness about vehicle safety. The market growth in the segment will be significant over the forecast period.
Automotive Body Control Module Market: Geography Landscape
62% of the market’s growth originated from APAC in 2019. Factors such as the rising stringency of emission regulations and safety standards and the increased adoption of advanced automotive technologies by vehicle manufacturers are driving the growth of the market in APAC.
China, Japan, and India are the key markets for automotive body control module in APAC.
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Major Three Automotive Body Control Module Market Vendors:
Aptiv Plc operates its business through the Advanced Safety and User Experience segment. The company offers body control module for automotive applications.
Continental AG operates its business through segments such as Chassis and Safety, Interior components, Powertrain components, Tires, and ContiTech. The company offers body control module for automotive applications.
DENSO Corp. operates its business through segments such as Thermal Systems, Powertrain Systems, Electrification Systems, Mobility Systems, Electronic Systems, and Non-Automotive Businesses (Factory Automation and Agriculture). The company offers automotive body electronics such as multiplex body ECU, TPMS ECU, IC flasher, among others.
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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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