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vehicle embedded software market Analysis by Trends, Size, Share, Company Overview, Growth and Forecast by 2028

03-01-2022 10:01 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fortune Business Insight

The global vehicle embedded software market size is projected to derive growth from the rising number road traffic crashes worldwide, shares Fortune Business Insights™ in its report, titled "Vehicle Embedded Software market size, share & industry analysis, By Vehicle Type (Passenger Car, Commercial Vehicle), By Electric Vehicle Type (Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, Hybrid Electric Vehicle), By Application (Embedded Based Automatic Parking System, Embedded Navigation System, Embedded Airbag System, Embedded Telematics) and regional forecast 2020-2027". Estimates released by the World Health Organization (WHO) show that road accidents kill around 1.35 million people every year. Furthermore, road injuries affect the lives of approximately 20 million to 50 million people, with several victims getting disabled for life. Speeding, driving under substance influence and distracted driving are some of the primary reasons identified by the WHO for road traffic crashes. Vehicle embedded software can prove to an efficient solution for enhancing the safety quotient of automobiles as it enables real-time interaction and coordination between various systems in a vehicle such as brakes, suspension, airbags, and collision sensors. Such software can be highly effective where the driver has lost control of the vehicle or when probable obstructions such as objects or people cannot be foreseen.

Available Sample Report-

List of Key Players Covered in the Vehicle Embedded Software Market Report:
• Siemens Industry Software
• Infineon Technologies AG
• Toshiba Corporation
• NXP Semiconductors
• Mitsubishi Electric Corporation
• Green Hills Software
• Denso Corporation
• Harman International
• Renesas Electronics Corporation

Key Advantages of Boring-milling Machines Market Report:
• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Boring-milling Machines Market industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter's Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Boring-milling Machines Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

Report scope can be customized as per requirements. Click here:

What Does the Report Offer?
The report offers an incisive analysis of the drivers, trends, and restraints shaping the growth of this market. Moreover, the report provides a holistic evaluation of the performance metrics of the different market segments as well as a panoramic overview of the overall industry outlook. In addition to these factors, the report highlights the prominent developments in the regional and competitive landscape that can positively or negatively affect the market.

Restraining Factor
Deflated Revenue Projections amid COVID-19 to Retard Market Growth
With the COVID-19 pandemic running rampant around the globe, leading companies in automotive electronics are grappling with plunging sales revenues, thus hampering the vehicle embedded software market growth. In April 2020, for example, Denso Corp reported an 81% decline in its operating profits (USD 571.8 million) and announced that it will be slashing its worldwide production by 50% because of the coronavirus. NXP Semiconductor's automotive business posted a 35% slump in vehicle chip sales in June 2020 as several large European automakers announced closure of plants due to the COVID-19 outbreak. For example, Fiat Chrysler declared temporary closure of its facilities in Italy, Serbia, and Poland in March 2020 in response to the lockdown and social distancing measures in these countries. The development and adoption of new vehicle embedded software is likely to suffer in this scenario as major players in this market have had to put their investment plans on hold due to the coronavirus.

Click here to get the short-term and long-term impact of COVID-19 on this market.
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Regional Insights
Increasing Automobile Production to Propel the Asia Pacific Market
Asia Pacific is expected to lead the vehicle embedded software market share in the forthcoming years on account of the rapid expansion of automotive production in China and India. Japan is a key country in the development of vehicle telematics, while China has emerged as world leader in the deployment of electric vehicles. In India, growing governmental support to hybrid and full electric vehicles is anticipated to create wide-ranging opportunities for market players.
The market in North America is likely to be influenced by the increasing stringency of regulations governing vehicular safety, pushing automakers to equip vehicles with advanced embedded software. In Europe, the main growth driver will be the strong presence of automotive bigwigs such as BMW and Volkswagen and their massive investments in next-gen vehicle technologies.

Competitive Landscape
Strategic Alliances to Fire up Competitive Energies of Key Players
Exciting collaborations among key players is livening up the competitive landscape of this. These collaborations are aimed at transforming the automotive industry, driven by the development of next-gen vehicle electronics and powered by the integration of smart tools with in-vehicle systems.
Industry Developments:
• August 2020: Excelfore, a pioneer in connected cars, teamed up with Siemens Digital Industries Software to create a demonstration platform to showcase its eSync OTA solution with the Capital VSTAR software of Siemens. Together, the companies will be able to engineer a solution to update AUTOSAR firmware in electronic control units in vehicles over the air.
• September 2019: Denso Corporation announced its collaboration with BlackBerry to develop and release the first human machine interface digital cockpit system. Named the DENSO Harmony Core and powered by the BlackBerry QNX technology, the technology debuted in vehicles produced by SUBARU, a top Japanese auto manufacturer.

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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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