The global automotive embedded system market size is poised to reach US$ 8.2 Billion by the year 2032 from US$ 4.8 Billion as of the year 2022 at a CAGR of 5.5% between 2022 and 2032.
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.
Both a rise in the price of regular gas and a rise in the number of electric car sales could encourage the market for vehicle electrification. Due to consumer demand for more fuel-efficient cars, stronger pollution rules, and growing environmental consciousness, the market for vehicle electrification is expected to grow. Many nations, most notably the US government, are actively supporting the electrification of automobiles through tax breaks and other financial incentives.
Autonomous vehicles (self-driving automobiles) are utilising embedded automotive technology. Real-time data on traffic, pedestrian crossings, various impediments, and even weather forecasts, are required in this situation. Controlling GPRS, emergency braking systems, radar systems, and equivalent devices are additional characteristics. This approach might be employed to evaluate the area around the vehicle.
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State laws are requiring sophisticated control measures, such as restricting exhaust emissions or mandating airbags, that can only be carried out by computer-based systems. Although it can seem challenging to integrate the technology in this instance, downtime is actually reduced. Because of this, market participants have chosen to collaborate in order to propagate functional architecture. In its most recent analysis, Future Market Insights looked at these conclusions and the crucial next steps.
According to a Future Market Insights expert, “the global automotive embedded system is bound to witness a splurge in the upcoming period” due to the ever-increasing use of EVs (electric vehicles) and cars’ electrification.
Competitive Arena
- 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 automotive.
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Key Segments Covered In Automotive Embedded System Market Survey
By Type:
- Software
- Hardware
By Component Type:
- Memory Devices
- Microcontrollers
- Sensor and Drivers
By Application Type:
- Powertrain & Chassis Control
- Body Electronics
- Multimedia and Integrated Systems/Services
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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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