Global Vehicle Control Units Market to Reach $22.5 Billion by 2030
The global market for Vehicle Control Units estimated at US$7.3 Billion in the year 2023, is expected to reach US$22.5 Billion by 2030, growing at a CAGR of 17.5% over the period 2023-2030. Vehicle Control Units Software, one of the segments analyzed in the report, is expected to record 18.1% CAGR and reach US$14.9 Billion by the end of the analysis period. Growth in the Vehicle Control Units Hardware segment is estimated at 16.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.9 Billion, While China is Forecast to Grow at 22.4% CAGR
The Vehicle Control Units market in the U.S. is estimated at US$1.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.9 Billion by the year 2030 trailing a CAGR of 22.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.2% and 14.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 13.5% CAGR.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook