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Automotive Embedded System Market Value Worth $ 7,051.11 million by 2028, Says The Insight Partners

The comprehensive industry research on Automotive Embedded System published by The Insight Partners research includes growth analysis and drivers in the report.

NEW YORK, UNITED STATES, March 14, 2023 / -- According to our latest market study on “Automotive Embedded System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Software and Hardware), Component (Memory Devices, Microcontrollers, and Sensors and Drivers), and Application (Powertrain & Chassis Control, Body Electronics, and Multimedia and Integrated SystemsServices),” the market was valued at US$ 4,483.81 million in 2021 and is projected to reach US$ 7,051.11 million by 2028; it is expected to grow at a CAGR of 6.7% from 2021 to 2028.

Automotive Embedded System market: Type Overview

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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Companies Profiled in this report includes: Continental AG, Denso Corporation, Garmin Ltd., Harman International, INFINEON TECHNOLOGIES AG, Mitsubishi Electric Corporation, NXP Semiconductors, Panasonic Corporation, Robert Bosch GmbH, and System Controls Technology Solutions Pvt. Ltd.

Rising demand for electric vehicles across the world, and elevating adoption of embedded systems in electric and hybrid vehicles due to their ability to reduce pollution and improve efficiency are expected to drive growth of the global automotive embedded systems market during the forecast period. Increasing customer attention toward the safety features of automobiles, growing automation in the automotive sector, and government attempts to limit emissions and enhance fuel efficiency are expected to facilitate the growth of the automotive embedded system market during the forecast period. Furthermore, rising demand for connected cars, as well as increased need of sensors and engineering systems in vehicles, is likely to drive the market growth in the coming years.

Asia Pacific dominates the automotive embedded systems market. The region is witnessing a growing trend of digitalization and "Internet of Cars," which supports greater connectivity through technology-enabled automobiles. The growing demand for integrated systems in countries such as India, China, and Japan is attributed to the increasing need for vehicle security and eco-friendly technologies. Embedded systems, once a critical feature in luxury vehicles, are now gaining popularity in budget cars as well. The penetration of smartphones and continuous availability of high-speed internet has boosted the demand for infotainment systems. Manufacturers have begun to introduce modern infotainment systems in the small and medium vehicle manufacturers. The adoption of infotainment systems has always been high in the premium car category. Players in the extremely competitive shared mobility sector are installing infotainment systems in their cars to meet customers’ needs related to convenience and entertainment. However, a surge in the frequency of accidents caused by distracted drivers may limit the adoption of infotainment systems in APAC, thus hindering the automotive embedded system market growth in the region.

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Automotive Embedded System Market: Competitive Landscape and Key Developments

Continental AG, Denso Corporation, Garmin Ltd., Harman International, INFINEON TECHNOLOGIES AG, Mitsubishi Electric Corporation, NXP Semiconductors, Panasonic Corporation, Robert Bosch GmbH, and System Controls Technology Solutions Pvt. Ltd. are among the key players profiled during this market study. In addition, several other essential market players were studied and analyzed to get a holistic view of the global automotive embedded system market and its ecosystem.

In January 2021, DENSO Corporation and Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, announced a collaboration on next-generation cockpit technologies. DENSO will increase the usability of integrated cockpit systems and in-vehicle infotainment products, as well as develop in-vehicle solution technologies for these systems.

In April 2021, Garmin International, Inc., a subsidiary of Garmin Ltd., introduced an all-new 2021 voice-controlled dash cam series with automated video storage and Live View monitoring options to assist drivers in capturing the incidences.

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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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