The global automotive embedded system market 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.
As the name implies, an automobile embedded system provides real-time interaction and control over a number of vehicle systems, including steering, suspensions, brakes, electrical bodies, and steering.
Automatic emergency braking, intelligent navigation technology, regulated fuel emission, cutting-edge telematics, engine management, and similar benefits are among the benefits. The market for automotive embedded systems will undoubtedly grow quickly in the near future because to the sophisticated applications listed above.
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Autonomous vehicles (self-driving vehicles) are integrating embedded automotive systems. The real-time information required over here includes traffic, pedestrian crossings, any other impediments, and even weather predictions. Controlling pollution monitors, GPRS, emergency braking systems, radar systems, and similar devices are among the additional characteristics. Thus, the surrounding surroundings of the vehicle could be assessed here.
State rules are enforcing complex control measures that could only be implemented by computer-based systems, such as limiting exhaust emissions or mandating airbags. Even though embedding the system appears to be difficult in this case, overall downtime is decreased. Because of this, market players have decided to work together to distribute workable architecture. Future Market Insights has discussed these findings and the next steps that should be followed 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.
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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.
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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