The body control module plays essential role in vehicles. It’s a processor-based power distributer part that’s utilized to control electric system in vehicles. The body control modules gain input from various sensors mounted on vehicles component and offer outputs through powerful microprocessors. Its main functions are adjusting power windows; immobilize system, power mirror, air conditioner and many other functions.
According to the analysis, ‘Global Body Control Module Market to reach USD 30.12 billion by 2027.’ there are heaps of key players which are working for the expansion of the market which excludes Infineon Technologies Ag, HellaKgaaHueck& Co., Mitsubishi Electric Corporation, Renesas Electronics Corporation, Texas Instruments incorporation, Aptiv Plc, Denso Corporation, Berkshire Hathaway Inc., Continental AG, Robert Bosch Gmbh. Owing to such advancement in vehicles and rising production of automotive over the world is driving the expansion of market over the forecast years. For example: According to the International Organization of Motor Vehicle Manufacturer (OICA), The production of passenger cars accounted for round 73.45 million units within the year 2017 as compared to 72.10 million units within the year 2016 in the world scenario. In the same way, the manufacture of commercial vehicles accounted for nearly 23.84 million units within the year 2017 as compared to 22.87 million units within the year 2016. Whereas, the global outbreak of COVID-19 harmfully affected the expansion of market. Several economies over the globe declared lockdowns to sustain social distancing and escaping corona spread that leads to the shutdown of business units of automotive businesses. Thus, slower trade of automotive due to the COVID-19 pandemic will challenge the market expansion. Moreover, introduction of self-driven vehicles can produce a profitable opportunity for the market expansion. However, programming of body control module is restricting the market expansion.
The regional investigation of global Body Control Module market is taken into the account for the key regions like Asia Pacific, North America, Europe, Latin America, and remainder of the World. North America is that the important country over the globe in terms of market share due to the increasing acceptance of luxury vehicles within the region. Whereas, Asia-Pacific is in addition anticipated to exhibition highest rate / CAGR over the forecast amount 2020-2027. Factors like rising sales and business of electric vehicles within the region would create well-paid expansion prospects for the Body Control Module market over Asia-Pacific region.
The major factors that drive the development of the global BCM market include rise in demand for advanced safety, comfort, and convenience features in vehicles; stringent rules from governments; and rise in demand for automotive. Concurrently, research is in addition being undertaken to production low-cost controlling modules that are predictable to increase the market expansion. There is a rise in the demand for active safety features like driver assistance systems in vehicles and is predicted to propel the expansion of the global BCM market during the forecast period. Thus it is predicted that the Global Body Control Module Market can increase within approaching years.
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Ankur Gupta, Head Marketing & Communications