Connected Car Ecosystem Fuels Automotive Embedded Systems Growth at 5.7% CAGR Through 2034

 

The global automotive embedded system industry is expected to reach USD 5,352.6 million in 2024, with a projected CAGR of 5.7% that will drive the market to USD 9,317.9 million by 2034.

A primary advantage of automotive embedded software is its ability to ensure the seamless operation of critical functions like safety, navigation, and braking in modern vehicles. As innovations in embedded software technologies continue to advance, the automotive sector is poised for significant transformation. Consequently, automotive embedded software is anticipated to play a vital role in fostering innovation and shaping the future of mobility.

Key Takeaways from the Automotive Embedded System Industry Report:

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.

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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. Also, 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.

Competitive Landscape:

Robert Bosch, in October 2021, invested over USD 400 Million for 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 automotive.

Zhuhai ENPOWER Electric Co., Ltd., in June 2021, made an announcement. It stated that it’s the pioneer with respect to 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, established 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.

Leading Key Players:

The automotive embedded system market is significantly influenced by leading key players such as Continental AG, Denso Corporation, Garmin Ltd., Harman International, Infineon Technologies AG, and Robert Bosch GmbH. These industry giants drive innovation and set standards in the sector. Other notable contributors include Delphi Technologies, Mitsubishi Electric Corporation, Johnson Electric Holdings Limited, NXP Semiconductor, and Texas Instruments Incorporated. Collectively, these companies are at the forefront of developing advanced embedded systems, enhancing vehicle functionality, safety, and connectivity, thereby shaping the future of automotive technology.

Comprehensive Market Insights: Full Report Overview

What does the Report enclose?

Future Market Insights offers an exclusive perspective and various real-time insights on the automotive embedded system market in its latest study, presenting a historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.

The research study is based on type (hardware and software), by component type (memory devices, microcontrollers, and sensors and drivers), and by application type (powertrain & chassis control, body electronics, and multimedia and integrated systems/services).

With an increasing demand for embedding computer-based functionalities in automobiles, the automotive embedded system market is expected to grow at a voracious rate in the near future.

Automotive Embedded System Market Segmentation:

By Type:

Software

Hardware

By Component Type:

Memory Devices

Microcontrollers

Sensor and Drivers

By Application Type:

Powertrain & Chassis Control

Body Electronics

Multimedia and Integrated Systems/Services

By Region:

North America

Latin America

Europe

Asia Pacific

Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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