Growing Connected Vehicle Technology to Boost Growth of the Automotive Embedded Systems Market

 Automotive Embedded Systems Market 



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 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Automotive embedded systems comprise hardware and software components that are installed in an automobile to provide control and monitoring functions. Embedded devices and microprocessors incorporated into automotive systems control ignition timing, fuel injection, security alarms, airbag deployment, infotainment and navigation systems, telematics communication, and Advanced Driver-Assistance Systems (ADAS). The growing penetration of IoT connectivity across new vehicles enables real-time vehicle diagnostics, fleet management, predictive maintenance, and connected services.

Market key trends:
The growing adoption of ADAS features such as adaptive cruise control, automatic emergency braking, lane departure warning and blind spot detection is driving the demand for automotive embedded systems. According to the National Highway Traffic Safety Administration (NHTSA), ADAS could prevent or mitigate the severity of up to 80% of all crashes. Furthermore, the rising proliferation of connected vehicles integrated with telematics control units (TCUs), infotainment systems and navigation is boosting the automotive embedded systems market. Consumer demand for over-the-air (OTA) software updates, live traffic updates, remote diagnostics and improved in-vehicle experience is prompting automakers to increase embedded system integration across models.
Porter’s Analysis

Threat of new entrants: The threat of new entrants in the automotive embedded systems market is moderate due to the presence of established players and need for high R&D investments and technical expertise.

Bargaining power of buyers: The bargaining power of buyers in the automotive embedded systems market is high due high competition among existing players and availability of alternative options.

Bargaining power of suppliers: The bargaining power of suppliers in the automotive embedded systems market is low due to availability of substitute components and differentiated nature of components.

Threat of new substitutes: The threat of new substitutes in the automotive embedded systems market is moderate due to availability of alternative integrated solutions.

Competitive rivalry: High due to presence of major players and differentiated offering.

Key Takeaways

The Global Automotive Embedded Systems Market Size is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing vehicle production and rising demand for infotainment and advanced driver-assistance systems.

Regional analysis: Asia Pacific dominates the automotive embedded systems market and is estimated to grow at the fastest rate during the forecast period. China, Japan and India are the major automobile producers in Asia Pacific and increasing vehicle production in these countries is driving the demand for automotive embedded systems in the region.

Key players: Key players operating in the automotive embedded systems market are Robert Bosch GmbH, Panasonic Corporation, Toshiba, Continental AG, Denso Corporation, Mitsubishi Electric Corporation,Texas Instruments Incorporated, Infineon Technologies AG, and Harman International. Robert Bosch GmbH and Continental AG capture significant market share due to their diversified product portfolio and global presence across major automobile manufacturing regions.

Get more insights on this topic:

https://www.marketwebjournal.com/automotive-embedded-systems-market-trends-size-and-share-analysis/

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