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Automotive Embedded System Market to Grow at 6.7% CAGR to Hit USD 7,051.11 Million by 2028 | Global Analysis by The Insight Partners
Automotive Embedded System Market
The automotive embedded system market is projected to reach US$ 7,051.11 million by 2028 from US$ 4,483.81 million in 2021; it is expected to grow at a CAGR of 6.7% from 2021 to 2028.
Automotive embedded system is a computer system for electronic devices, built with the purpose to control the mechanism of data and devices. By using this, it performs in a safer way, resulting in optimization of energy. One of the major driver for the growth of Automotive embedded system market is growing demand for electronic devices as it distributes the power equally which leads to efficiency, less fuel emission and growth in safety regulations.
High power consumption by the system due to very high level of algorithms can be a restraining factor in the market. By the way of changes in system architecture, modifications in software development and enhancement of integrated services will bring new opportunities in the market in coming years.
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Companies Profiled in this report includes: Denso Corporation, Continental AG, Panasonic Corporation, Harman International, Delphi Automotive LLP, Mitsubishi Electric Corporation, Robert Bosch GmbH, Garmin Ltd., NXP Semiconductors and Infineon Technologies AG
Impact of COVID-19 Pandemic on Automotive Embedded System Market
The COVID-19 outbreak adversely affected the overall growth rate of global automotive embedded systems market in 2020 to some extent, due to supply and demand disruptions across the automotive value chain. However, with the sudden growth in vaccination drives and continuous updates in COVID-19 safety protocols, the government restrictions are being relaxed, which is likely to boost the production capabilities of both civil and body electronics, thereby normalizing the automotive embedded systems market growth during the forecast period.
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Market Insight
Increasing Demand for Infotainment Drives Automotive Embedded System Market Growth
With the transforming mobility industry, the scope of infotainment systems is expanding to provide car occupants with greater safety features, additional functionality, and entertainment alternatives. Smartphone connectivity allows users to access messages and information through Wi-Fi and Bluetooth connectivity, making it easier to work on the go. These infotainment systems provide a digital experience in vehicles, with digital assistant, several screens, and various input methods. The incorporation of digital interfaces allows automotive suppliers and OEMs to create interfaces that display real-time data in a more suitable manner. The digital interfaces also confer a wider range of functions, allowing manufacturers to perform a number of safety-critical functions, including ADAS.
Type Segment Insights
An embedded system is a combination of hardware and software components, and is based on a microprocessor or microcontroller that is designed to perform certain tasks in the automotive sector. Automobile embedded software allows drivers to record scalable data to get important insights regarding vehicle performance and drivers' behavior. Embedded automotive software solutions help predict maintenance requirements and avoid automobile accidents. Furthermore, the emergence of connected automobiles is compelling automotive firms to improve their embedded automotive software development capabilities to bridge the gap between a car and a mobility ecosystem, further bringing improvements in vehicle performance based on in-vehicle and beyond-vehicle data. Companies are releasing new software solutions to provide all-around assistance. Intellias provides embedded software services to improve the operation of multimedia systems, in-car networks, telematics, ADAS, body electronics, power train ECU, and transmission ECU components. The vast knowledge of the company allows it to design complicated systems for ECU firmware updates, telematic control unit software, vehicle tracking systems, powertrain controller software, and other comparable systems and components, based on ASPICE-certified methods.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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