Growing demand for vehicle safety and comfort, strict government safety regulations, and rising need for auto components drive the body control module market.
WILMINGTON, DE, UNITED STATES, November 19, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, The global body control module market size was valued at $23.59 billion in 2019, and is projected to reach $30.13 billion by 2027, registering a CAGR of 3.1% from 2020 to 2027. By bus type, the CAN type segment was the highest revenue contributor in 2019, accounting for $15.14 billion, and is estimated to reach $18.77 billion by 2027, registering a CAGR of 2.7% during the forecast period. In 2019, Asia-Pacific was anticipated to account for major BCM market share.Download Sample Report (Get Full Insights in PDF - 286 Pages) at: https://www.alliedmarketresearch.com/request-sample/5112
Asia-Pacific is dominating the market in terms of revenue, followed by Europe, North America, and LAMEA. In Asia-Pacific, China dominated the global body control module market in 2019, whereas South Korea is expected to grow at a significant rate during the forecast period.
Body control module (BCM) in the automotive industry is a processor-based power distribution component, which supervises, and controls functions related to the car body such as interior lights, security, windows, door locks & access control, and others. In addition, central BCM operates as a gateway for bus and network interfaces to interact with remote electronic control units (ECU) for other systems; however, BCM does not control any engine-related functions. Moreover, controlling signal of various loads comes directly from remote ECU via CAN/LIN communication or directly from the central body module.
Control of various loads comes directly from remote ECU via CAN/LIN communication or directly from the central body module. The BCM does not control any engine-related functions. Furthermore, the BCMs include interior and exterior applications of the vehicles body such as sunroof control unit, anti-lock braking system, automotive seats, active steering, and others. The global BCM market is segmented on the basis of type, vehicle type, application, and region.
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Currently, the body control module market has witnessed steady growth. Rise in demand for safety, comfort, and convenience features in vehicles globally, increase in purchasing power, and changes in lifestyles are the key factors that boost the sales of automobiles in the developing economies.
There is an increase in demand for vehicles with luxurious features in Europe and North America. Automotive manufacturing and sales ratio is high in Asia-Pacific, which boosts the growth of the body controlling modules market. Moreover, the companies such as HELLA, Robert BOSCH, Continental AG, and others are prominent body control modules manufacturers. Therefore, the use of BCM in luxurious vehicles is expected to boost the body control module market in the near future along with the need for driver assist system for vehicles.
The global body control module market is driven by increase in demand for advanced safety, comfort, and convenience features in vehicles, stringent regulations set by governments; and rise in demand for automotive. However, surge in complexity is expected to restrict the market growth.
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Key Findings of the Study:
1. In 2019, by type, the CAN bus type segment generated the highest revenue.
2. In 2019, by vehicle type, the passenger car vehicle segment was the highest revenue contributor.
3. In 2019, by application, the interior segment was the highest revenue contributor.
4. In 2019, region-wise, Asia-Pacific contributed the highest revenue, followed by LAMEA, North America, and Europe.
The key players analyzed in the body control module market report include Continental AG (Germany), Denso Corporation (Japan), Robert Bosch GmbH (Germany), Delphi Automotive PLC (UK), HELLA, Texas Instruments Inc., Mouser Electronics, Infineon Technologies AG, Mitsubishi Electric Corporation, and Renesas Electronics Corporation.
The global body control module (BCM) market is driven by rising demand for advanced safety, comfort, and convenience features in vehicles, stringent government regulations, and growing automotive demand. Ongoing research to develop cost-effective control modules is expected to further boost market growth. Increasing adoption of active safety features, such as driver assistance systems, is projected to propel the BCM market during the forecast period. However, rising system complexity may hinder growth. The growing popularity of electric and hybrid vehicles, increasing global automotive sales, and the need for advanced driver assistance features in new vehicles are anticipated to fuel market expansion in the near future.
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