Body Control Module Market (By Component: Hardware, Software; By Vehicle Type: Passenger Car, Commercial Vehicle, Electric Vehicle; By Application: Interior [Power Windows, Adaptive Cruise Control, Active Steering, Anti-Lock Braking System, GPS navigation technology], Exterior [ Sunroof Control Units, Fog Lamp Control, Tailgate Open Control, Central Locking System, Wiper control]) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global body control module market is anticipated to grow at a CAGR of around 3.5% during the forecast period 2020 to 2027 and to reach around US$ 30.8 Bn by 2027.

Market Dynamics

Flourishing automotive sector across the globe, developing regulatory scenario, and manufacturers approach towards delivering vehicle with high safety and comfort are major factors expected to drive the growth of global body control module market. In addition, rising demand for passenger vehicles in developing countries, rising adoption of electric vehicles, coupled with wide applicability of body control module controls for door modules, interior & exterior lighting, windows, security, door locks & access control, etc. are among other factor expected to further support the growth of target market.

Business development activities by major players in order to increase the customer base and enhance the profit ratio is another factor expected to augment the growth of target market.

• In 2019, Denso Corporation and Toyota Motor Corporation established a joint venture for research and advanced development of next-generation, in-vehicle semiconductors. This is expected to help the company attract new customers and increase the profit.
• In 2019, Infineon acquired Cypress Semiconductor a semiconductor design and manufacturing company with the focus on structural growth drivers and serve a broader range of applications. This is expected to accelerate the growth of company.
• In 2019, Continental AG an automotive parts manufacturing company specializing in brake systems, interior electronics, automotive safety, powertrain and chassis components, tachographs, tires and other parts for the automotive and transportation industry started a new research and development (R&D) centre in Chongqing. The lab is focusing on the development of car body and powertrain products and automotive electronics products including solutions. This is expected to help the company to enhance the product portfolio and increase the profit
• In 2018, STMicroelectronics launched a new connected -car microcontroller unit (MCU) that enables secure remote updates and high-speed in-vehicle networking. This is expected to increase the customer base and increase the revenue share.
• In 2020, Illinois Tool Works Inc. (ITW) acquired Engineered Fasteners and Components business (EF&C). This acquisition is expected to help the company to enhance the customer base and increase the profit share.

However, factors such as high complexity in programming and technological glitches are expected to hamper the growth of global body control module market. In addition, high cost involved in R&D activities is another factor expected to further challenge the growth of target market.

High investment by major players for technological advancements, increasing electric vehicle sale in developing countries are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, increasing business partnerships and agreements are among other factors responsible to support the growth of target market.

Body Control Module Market Segment Analysis, 2019

The global body control module market is segmented into component, vehicle type, and application. The application segment is further bifurcated into interior and exterior. Among vehicle type the passenger vehicle segment is expected to account for significant revenue share in the global market.

Segment Analysis by Region

The market in North America is expected to account for significant revenue share owing to rising demand for luxury vehicles with advanced features. In addition, high adoption of electric vehicles from consumers, presence of major players operating in the country with the focus on introduction of innovative products are among other factors expected to further support the growth of regional market.

Asia Pacific is expected to witness faster growth in the near future owing to high passenger vehicle sale. In addition, rapid technologically advancements in automotive industry, developing regulatory scenario, coupled with rising demand for safe and reliable vehicle with enhanced comfort are among other factors expected to further support the growth of regional market.

Competitive Landscape

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

The market research study on “Body Control Module Market (Component: Hardware and Software; Vehicle Type: Passenger Car, Commercial Vehicle, and Electric Vehicle; Application: Interior and Exterior) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global body control module market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global body control module market segment by component, vehicle type, application and major geographic regions. The players profiled in the report Delphi Automotive PLC, HELLA, Texas Instruments Inc., Mouser Electronics, Infineon Technologies AG, Continental AG, Denso Corporation, Robert Bosch GmbH, Mitsubishi Electric Corporation, and Renesas Electronics Corporation.

Market Segmentation

Market By Component

• Hardware
• Software

Market By Vehicle Type

• Passenger Car
• Commercial Vehicle
• Electric Vehicle

Market By Application

Interior

• Power Windows
• Adaptive Cruise Control
• Active Steering
• Anti-Lock Braking System
• GPS navigation technology

Exterior

• Sunroof Control Units
• Fog Lamp Control
• Tailgate Open Control
• Central Locking System
• Wiper control

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa