Automotive Engine Management System Market Share, Growth (2027)

 

Market Overview:

By 2027, the automotive engine management system market, currently estimated at USD 61.36 billion, is expected to reach USD 78.54 billion, growing at a CAGR of 4.2% in terms of revenue.

The globally integrated automotive industry was quickly and negatively impacted by the COVID-19 pandemic. Vehicle sales were significantly down for 2020, which in turn affected the market for automotive engine management systems. However, after 2021, the automotive industry began to expand and significantly recovered in 2021. During the forecast period, the automotive industry’s growth is anticipated to continue, which is likely to propel the market under consideration.

Long-term consumer preference for fuel-efficient vehicles has encouraged manufacturers to create cutting-edge parts that regulate engine operation. Due to a rise in greenhouse gas levels, stricter emission regulations being implemented globally is expected to significantly boost the market.

Scope of the report:

Engine management systems are primarily in charge of regulating an automobile’s performance and emissions. Engine management systems have grown significantly in importance over the past ten years as a result of their assistance to automakers in achieving both present and upcoming emission standards.

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