The global automotive embedded system market is poised to reach US$ 8.2 Bn by the year 2032 from US$ 4.8 Bn as of the year 2022 at a CAGR of 5.5% between 2022 and 2032.
Automotive embedded systems, as the name suggests, does render real-time interaction along with control over numerous systems of the automotive like steering, suspensions, brakes, electronic body, steering, and likewise. The advantages include automatic emergency braking, smart navigation technology, controlled fuel emission, advanced telematics, engine management, and likewise. The advanced applications mentioned above are bound to accelerate the automotive embedded system market in the near future.
The self-driven cars (autonomous cars) are into the integration of the automotive embedded systems. The real-time data needed over here constitutes cars on the road, pedestrians crossing the road, any other barriers, or even weather forecasts. The other features include controlling smog monitors, GPRS, emergency braking systems, radar systems, and likewise. Thus the environment around the vehicle could be gauged herein.
The state regulations are imposing sophisticated control laws, which could be incorporated only through computer-based systems like restricting exhaust emissions or making airbags mandatory. Herein, even though the embedding of the system seems to be complex, the overall downtime is reduced. That is why, market participants are agreeing upon collaborating to dole out feasible architecture. Future Market Insights has walked through these findings with subsequent steps to be taken 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.
- North America holds the largest market share due to proper integration regarding embedded systems among 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 the automotive embedded system market with Japan and China witnessing growing adoption of electric vehicles. In addition, India, with its Automotive Mission Plan, has planned to increase its revenue from automobiles three times by the year 2026.
- LATAM and MEA are also expected to make a mark in the automotive embedded system market going forward.
- Robert Bosch, in October 2021, invested over US$ 400 Mn for the mass production of microchips.
- Real-time Robotics, in June 2022, announced collaborating with Mitsubishi Electric Automation, Inc., for further programming as well as exercising control over industrial robots with collision avoidance software and innovative motion control; both used in automobiles.
- Zhuhai EMPOWER Electric Co., Ltd., in June 2021, made an announcement. It stated that it’s the pioneer with respect to the 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 center 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.