Global Embedded Systems in Automobile Market is valued approximately at USD 6.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.6% over the forecast period 2020-2027. Recently, most of the electronic devices usually rely on embedded systems. Embedded system is a type of computer system with a steadfast function within a large electrical or mechanical system, often with real-time processing constraints. Nowadays, mechanical systems in automobiles have widely been substituted by electronic systems, which has increased the usage for embedded system since it can assist in system monitoring, pollution control, etc. Embedded system has gained overall control of automobiles varying from wiper control to complicated airbags and anti-brake control. Further, the use of embedded systems has a prominent role in the automotive sector due to its versatility, as well as flexibility, which is creating the high growth of the market all over the world. An increase in the production of electric vehicles, rising vehicle electrification and modernization in the automotive sector, and the advent of autonomous vehicles are the few factors responsible for the CAGR of the market during the forecast period. According to the Edison Electric Institute (EEI), in Q1 2018, the electric vehicle (EV) sales around the world were recorded around 312,000 units, an increase of 58% as compared to Q1 2017 which holds almost 197,000 units. Similarly, as per the Bloomberg New Energy Finance (BNEF) report 2019, the global electric vehicle sale is expected to reach almost 54 million by the year 2040, which is about 32% of the world’s passenger vehicles. This, in turn, is likely to strengthen the demand for embedded systems in automobiles, globally. However, the high cost of devices and shorter life span of electronic systems are the few factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Embedded Systems in the Automobile market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising production of passenger cars and electric vehicles, along with the large presence of market players in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest \growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in penetration of autonomous vehicles and changing customer taste & preference in the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the cancer vaccine market in the Asia-Pacific region.
Major market player included in this report are:
Mitsubishi Electric Corporation
Texas Instruments Inc.
Infineon Technologies AG
Harman International Industries, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Vehicle Type:
Infotainment & Telematics
Powertrain & Chassis Control
Safety & Security
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Embedded Systems in Automobile Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers