Automotive Embedded Systems to Witness Significant Growth owing to Increasing Vehicle Production and Connectivity

 
Automotive Embedded Systems Market

Automotive embedded systems refers to various electronic control modules that are installed in modern vehicles to control and monitor various vehicle functions. Features such as anti-lock braking system (ABS), electronic stability control (ESC), engine control units (ECU), sensing devices etc relies on embedded systems for operation. These systems assist in vehicle safety, enhance driving performance and improve overall user experience.

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 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
One of the key drivers propelling the growth of the automotive embedded systems market is the increasing vehicle production across the globe. Rapid urbanization, rising disposable income and growing demand for personal vehicles have led automobile manufacturers to increase their production capabilities. According to OICA, global vehicle production exceeded 94 million units in 2022. Additionally, burgeoning connectivity and automation in modern vehicles has boosted the adoption of advanced embedded systems. Features such as ADAS, telematics, vehicle-to-vehicle (V2V) communication and autonomous driving relies heavily on the integration of advanced embedded hardware and software. The increasing focus on safety, convenience and autonomous capabilities in cars is expected to drive significant demand for automotive embedded systems over the forecast period.

SWOT Analysis

Strength: Automotive embedded systems allow for more connected, autonomous cars. Incorporating systems like telematics and advanced driver assistance provides safety benefits like collision avoidance. They also enable entertainment and comfort features through touchscreens and voice control.

Weakness: Developing fully autonomous vehicles requires overcoming technological hurdles around sensors, computer vision algorithms and liability issues. High development costs also limit adoption by smaller automakers currently.

Opportunity: As computing power increases, more complex automated driving functions will become feasible. This creates opportunities for suppliers of advanced sensors, processors and software. Additional revenue streams may open up through in-vehicle commerce, advertising and data collection with driver permission.

Threats: Stringent regulations and safety testing requirements extend development timelines and budgets. Cyber security vulnerabilities could undermine consumer trust in connected vehicle systems if not properly addressed. Delays in building out 5G network infrastructure may also slow broader adoption of advanced telematics services.

Key Takeaways

The Global Automotive Embedded Systems Market is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising vehicle connectivity and autonomy features. The market size is projected to reach US$ 18.12 Mn by 2023.

Regional analysis shows North America and Europe currently dominate due to presence of major automakers and tech companies aggressively developing driverless vehicle technologies. However, China and other Asia Pacific nations are emerging as fast growing regional markets backed by government initiatives and investments in 5G networks to accelerate smart mobility applications.

Key players operating in the automotive embedded systems market are Diadem srl., Proteomedix, Cleveland Diagnostics, F. Hoffmann-La Roche Ltd, GENFIT, Nutech Cancer Biomarkers India Pvt Ltd, SysmOex Corporation, Minomic, Creative Diagnostics, Eisai Co., Ltd., and C2N Diagnostics. These companies offer a range of automotive system-on-chips, telematics control units and other embedded hardware components critical to enabling infotainment, navigation and autonomous driving functions in modern vehicles.

For more details on the report, Read- https://www.ukwebwire.com/automotive-embedded-systems-market-size-and-share/

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