by The global Automotive Embedded Systems Market is estimated to be valued at US$ 18.12 Mn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Automotive embedded systems integrate software and hardware to enable advanced functions in vehicles. They improve safety, stability and overall driving experience. Features like cruise control, infotainment, Bluetooth connectivity have become basic needs in modern automobiles.
Market key trends:
Automakers are investing heavily in developing self-driving cars which use advanced automotive embedded systems for functions like lane keeping, collision avoidance, adaptive cruise control etc. They collect real-time data from sensors to detect the vehicle’s surroundings and take control decisions. This is expected to drive significant growth in the automotive embedded systems market size over the forecast period.
Segment Analysis
The global automotive embedded systems market is segmented by type into embedded hardware and embedded software. Among these, the embedded hardware segment dominates the market and accounts for around 60% share of the total market. This is because automotive embedded hardware such as MCUs, sensors, routers and modems are extensively used in automotive applications such as infotainment systems, telematics, powertrains and advanced driver assistance systems (ADAS).
Key Takeaways
The Global Automotive Embedded Systems Market Size is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing autonomous vehicles production and demand for connected vehicles.
The regional analysis, North America dominates the global automotive embedded systems market due to stringent vehicle safety and environmental regulations in the US and presence of major automotive OEMs and embedded system manufacturers in the region. Asia Pacific is expected to register the fastest CAGR over the forecast period owing to growing automobile production and sales in developing economies like China and India.
Key players operating in the automotive embedded systems market are Robert Bosch GmbH, Panasonic Corporation, Toshiba, Continental AG, Denso Corporation, Mitsubishi Electric Corporation,Texas Instruments Incorporated, Infineon Technologies AG, Harman International. Robert Bosch GmbH dominates the market due To extensive research and development activities in embedded systems for automobiles.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
