Automotive Body Control ModuleMarket: Current Analysis and Forecast (2022-2028)

Automotive Body Control ModuleMarket: Current Analysis and Forecast (2022-2028)

The automotive body control module is a processor-based power distribution center that helps to control the various functions related to the body of the car such as door modules, interior and exterior lighting, power windows, and various safety features. The major factors like an increase in the demand for advanced safety, comfort, convenience features in vehicles and increase in demand for automotive are driving the growth of the market.

The Automotive Body Control Module Market is expected to grow at a steady rate of around 3% owing to the increasing demand for electric vehicle, hybrid vehicles and for advanced technology to enhance the safety of the vehicle. Moreover, the key players are focusing on new innovations and development of advanced technologies to boost up the growth of the market. For instance, in June 2019, Infineon Technologies is to acquire Cypress for new innovations and development of advanced technologies and will accelerate into new internet of things applications in consumer and industrial segment.

• Based on type, the market is segmented into Controller Area Network(CAN) and Local Interconnect Network(LIN). The CAN holds highest CAGR and is expected dominate the market throughout the forecast period owing to its capability of working in multiple parameters to control the electronic system of the vehicle. Increasing demand for simple control, increased fuel efficiency, reduce vehicle weight and lower manufacturing cost are some of the factors driving the growth of the segment.
• On the basis of vehicle type, the market is categorized into passenger car, commercial vehicle and electric vehicle. Among these, the passenger vehicle is expected to grow with a highest CAGR of the market during the forecast period. This is mainly due to the growing demand for advanced security for the passenger to travel with comfort from one place to other and the growing production of the advanceed passenger vehicles are factors driving the growth of the market.
• Based on application, the market has been classified into interior and exterior. The interior category is to witness higher CAGR during the forecast period. As most of the safety features are present inside the vehicle which are necessary to control with the help of embedded systems. Although, power windows, mirrors, fog lights, driving assistance are also controlled with very ease being inside the vehicles, which is driving the growth of the segment.
• For a better understanding of the market adoption of the automotive industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period due to the rising demand for vehicles in these countries, Asia Pacific is witnessing high economic growth. Due to its extensive production of passenger cars, higher rate of adoption of cutting-edge technologies than other countries, and growing purchasing power of customers, the Asia Pacific region is home to the greatest market for body control module. For instance, according to Society Of Indian Automobile Manufacturers, around 3,650,698 passeneger vehicles were manufactured in 2021-22.
• Some of the major players operating in the market include Continental AG, Aptiv, Mitsubishi Electric Corporation, Robert Bosch GmbH, Denso Corporation, HELLA GmbH & Co. KGaA, Mouser Electronics, Inc, Infineon Technologies AG, Harman International, and Tata Elxsi.