Automotive Embedded System Market Key Manufacturers, Development Trends and Competitive Analysis 2032
The Global Automotive Embedded System Market was valued at US$ 4.5 Bn in 2021 and is expected to reach US$ 8.2 Bn by 2032, finds Future Market Insights (FMI) in a recent market survey. As per the findings of the report, a key driver of the Automotive Embedded System Market's expected growth is the necessity to expand target functionality and customize core software for a wide range of automobiles.
It is projected that revenue through the software segment in the automotive embedded system will grow at 5.2% CAGR during the forecast period. The increase in the number of software developers is predicted to reach over 250 thousand by 2030, reflecting the increased overall development effort in the coming decade. This represents an enormous market potential for the software segment in the automotive embedded system market.
The United States to Remain the Largest User of Automotive Embedded Systems Throughout the Analysis Period
From 2022 to 2032, the Automobile Embedded System Market is estimated to grow at a CAGR of 4.8% in the United States. In the United States, the suppliers cannot be regarded as truly independent from the carmakers. The United States has a leading market share in the embedded systems market due to stronger integration of the embedded systems market amongst research institutes, suppliers, and automobile manufacturers. North America accounts for 41.4% of the global automotive embedded system industry and would generate US$ 3.3 Bn by 2032, according to the forecast.
“A cooperative development process is preferred to design innovative in-vehicle embedded systems, in order to expand the system's flexibility. It will be a revenue multiplier for OEMs and suppliers by reducing the cost of the product.” comments an analyst at Future Market Insights.
Automotive Electric Connectors Market: Competition Insights
In October 2021, German technology group Robert Bosch has earmarked more than US$ 400 Mn for investments in microchip production to ease a global shortage.
In June 2022, Real-time Robotics, announced that it has collaborated with Mitsubishi Electric Automation, Inc., to further the programming and control of industrial robots with innovative motion control and collision avoidance software used in automotive.
In June 2021, Zhuhai ENPOWER Electric Co., Ltd announced that it is the first to integrate the latest 750 V automotive-grade IGBTs from Infineon Technologies AG. The discrete IGBT EDT2 devices enable performance boosts and system cost savings in main inverter applications and DC link discharge switches of electric vehicles are also useful in achieving system integration targets.
In January 2022,Johnson Electric launched an all-in-one e-axle solutions pack for energy vehicles. From safety parking to four-wheel drive mode switching to electric drive position detection, the pack covers all of the bases.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Automotive Embedded Systems Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Automotive Embedded Systems Market in terms of Type (Software and Hardware), By Component (Memory Devices, Microcontrollers, and Sensor), By Application (Powertrain & Chassis Control, Body Electronics, and Multimedia and Integrated Systems/Services), across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
About Future Market Insights (FMI)
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.