Body Control Module Market will reach 29.2 Billion USD by 2027
The report "Body
Control Module Market by Functionality (High End & Low
End), Component (Hardware & Software), MCU Bit Size (8 bit, 16 bit & 32
bit), Communication Protocol, Power Distribution Component, Vehicle, Electric
Vehicle, and Region - Global Forecast to 2027" The global body
control module market is projected to grow at a CAGR of 2.6% to reach USD 35.7
billion by 2027 from an estimated USD 29.2 billion in 2019. The major factors
driving the growth of the market are the advent of body control functions in
the vehicle and increasing sales of luxury vehicle.
Browse 156 market data Tables and 52 Figures
spread through 161 Pages and in-depth TOC on "Body Control
Module Market "
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By Functionality: High-end BCM is the fastest-growing
segment of the body control module market during the forecast period
High-end BCM are installed with higher configuration
microcontroller and other hardware component making it capable of handling
complex body control functions. These features makes it preferred choice for
OEM for their high-end variants of vehicle models. People nowadays are
preferring to buy vehicles installed with advanced body control functions such
as power windows, automatic trunk opener, keyless entry, etc. Installation rate
of high-end BCM in vehicles has increased in the last few years, and the trend
is expected to remain the same in future.
By Vehicle Type: Heavy-duty vehicle is expected to be the
fastest-growing segment in the body control module market
Heavy-duty vehicle includes trucks and buses. Trucks are
installed with single BCM, whereas buses are installed with two BCM. The road
transportation sector across the globe is boosting. Road conditions in the
developing region are improving. Transportation companies in developing region
are focusing on buying trucks which cater them commercial benefits.On the other
hand, public transportation in developing and other countries is increasing,
resulting in increasing sales of buses. Governments and transportation
authorities across the globe are emphasizing on developing environment-friendly
vehicles. These are a few of the factors that are contributing to the growth of
heavy-duty vehicle market for the body control module.
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By Region: RoW is expected to be the fastest-growing
region in the by 2027 in the body control module market
Most of the Tier I, II suppliers, and OEMs are focusing on
the automotive market of Rest of the world. Countries in the rest of the world
category are becoming self-dependent and economically stable. The production of
vehicles in this region is increasing day-by-day. People in these countries are
also looking out for high featured vehicles. This is the reason for the growth
of the body control module in the rest of the world region.
The major market players include Bosch (Germany),
Continental (Germany), Lear Corporation (US), Hella (Germany), and Aptiv (UK),
among others.
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