Automotive Embedded System Market is Set to Reach US$ 8.2 Bn at a CAGR of 5.5% During the Forecast Period of 2022-32 | Data Driven Report by Future Market Insights, Inc.
The North America Embedded System market accounts for 41.4% market share and over the forecast period, it will have US$ 3.3 Bn in revenue by 2032. German technology group Robert Bosch has earmarked more than US$ 400 Mn for investments in microchip production to ease a global shortage.
NEWARK, Del., Nov. 2, 2022 -- The global automotive embedded system market is poised to reach US$ 8.2 Bn by the year 2032 from US$ 4.8 Bn as of the year 2022 at a CAGR of 5.5% between 2022 and 2032.
Automotive embedded system, as the name suggests, does render real-time interaction along with control over numerous systems of the automotives like steering, suspensions, brakes, electronic body, steering, and likewise. The advantages include automatic emergency braking, smart navigation technology, controlled fuel emission, advanced telematics, engine management, and likewise. The advanced applications mentioned above are bound to accelerate the automotive embedded system market in the near future.
The self-driven cars (autonomous cars) are into integration of automotive embedded system. The real-time data needed over here constitutes cars on the road, pedestrians crossing road, any other barriers, or even weather forecast. The other features include controlling smog monitors, GPRS, emergency braking systems, radar system, and likewise. Thus the environment around vehicle could be gauged herein.
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The state regulations are imposing sophisticated control laws, which could be incorporated only through computer-based systems like restricting the exhaust emissions or making airbags mandatory. Herein, even though the embedding the system seems to be complex, the overall downtime gets reduced. That's why, market participants are agreeing upon collaborating to dole out feasible architecture. Future Market Insights has walked through these findings with subsequent steps to be taken in its latest market study entitled 'Automotive Embedded System Market'.
"With ever-increasing adoption of EVs (electric vehicles) coupled with cars' electrification, the global automotive embedded system is bound to witness a splurge in the upcoming period", says an analyst from Future Market Insights.
Key Takeaways from Automotive Embedded System Market
- North America holds the largest market share due to proper integration regarding embedded systems amongst suppliers, research facilities, and car makers.
- Europe is expected to do well in the automotive embedded system market with Germany leading from the front.
- The Asia-Pacific is expected to witness the fastest growth in automotive embedded system market with Japan and China witnessing growing adoption of electric vehicles. Also, India, with its Automotive Mission Plan, has planned to increase its revenue from automotives three times by the year 2026.
- LATAM and MEA are also expected to make a mark in automotive embedded system market going forward.
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- Robert Bosch, in October 2021, invested over US$ 400 Mn for mass production of microchips.
- Real-time Robotics, in June 2022, announced collaborating with Mitsubishi Electric Automation, Inc., for furthering programming as well as exercising control over industrial robots with collision avoidance software and innovative motion control; both used in automotives.
- Zhuhai ENPOWER Electric Co., Ltd., in June 2021, made an announcement. It stated that it's the pioneer with respect to integration of the latest automotive-grade IGBTs provided by Infineon Technologies AG. These discrete EDT2 devices do facilitate better performance with cost-savings in major inverter applications. The DC link discharge switches of EVs are of great use in meeting system integration targets.
- Johnson Electric, in January 2022, did launch all-in-one e-axle solutions for energy vehicles. They cover every base – right from safety parking to 4-wheel drive mode, and also switching to 'electric drive position detection'.
- Mitsubishi Motors, in March 2019, did establish an innovation-based centre all across Tokyo with the objective of developing automotive embedded software.
- Toshiba Digital Solutions, Toshiba Information Systems, and DENSO inked a capital alliance agreement for enhancing embedded software products for automotives.
What does the Report enclose?
- Future Market Insights offers an exclusive perspective and various real-time insights on the automotive embedded system market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
- The research study is based on type (hardware and software), by component type (memory devices, microcontrollers, and sensor and drivers), and by application type (powertrain & chassis control, body electronics, and multimedia and integrated systems/services).
- With an increasing demand for embedding computer-based functionalities in automobiles, the automotive embedded system market is expected to grow at a voracious rate in the near future.
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Key Segments Covered In Automotive Embedded System Market Survey
By Component Type:
- Memory Devices
- Sensor and Drivers
By Application Type:
- Powertrain & Chassis Control
- Body Electronics
- Multimedia and Integrated Systems/Services
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
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