The latest market report published by Credence Research, Inc. is “Global Automotive Embedded System Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Automotive Embedded System Market generated around USD 4.1 billion in 2021 and is anticipated to grow a CAGR of over 6.4% from 2022 to 2028 to reach around USD 5.94 billion in the forecast period 2028.
An embedded system is a collection of software and hardware components based on a microcontroller or microprocessor intended to perform specific tasks in the automotive industry. Automotive-embedded software enables drivers to collect scalable data to gain valuable insights into driver behavior and vehicle performance. Automobiles software system solutions embedded in vehicles aid in predicting maintenance needs and preventing collisions. Moreover, the rise of connected automotive is compelling automobile manufacturers to improve their embedded automobile software development capabilities to bridge the gap between mobility and a car ecosystem, resulting in improved vehicle performance based on beyond-vehicle and in-vehicle data. An automotive embedded system is a computing system for electronic devices that controls data and device mechanisms. The use of advanced embedded systems in the automobile sector has grown significantly in recent years. The rising demand for electronic devices, which spreads the power equation and results in efficiency, lower fuel emissions, and an increase in safety regulations, is one of the key factors propelling the growth of the global automotive embedded system market.
Browse Global Automotive Embedded System Market report- https://www.credenceresearch.com/report/automotive-embedded-system-market
The global automotive embedded system market is bifurcated into Type, Component, Application, and Geography. Based on the type, the market is categorized into software and hardware. Based on the application, the market is segmented into powertrain & chassis control, body electronics, and multimedia & integrated systems/services. Based on the component, the market is divided into memory devices, sensors & drivers, and microcontrollers. The market is categorized geographically into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
In 2021, Asia Pacific dominated the global automotive embedded system market due to the high adoption rate of embedded systems and the growth of the automotive industry, which led to a rise in the production of embedded-systems-equipped vehicles, particularly in Japan, India, China, and South Korea. The higher adoption of electric vehicles in the region is also expected to significantly increase the demand for automotive embedded systems. Subsidies offered by regional governments are expected to be a key factor in driving demand for embedded systems for the automotive market throughout the forecast period, contributing to the electric vehicle demand.
Why to Buy This Report –
- The report examines the global automotive embedded system market by segment, current trends, drivers, restraints, opportunities, challenges, and market dynamics from 2016 to 2020, with 2021 as the base year and 2022-2028 as the projected period.
- The report provides competitive landscape information, such as how the market’s key players operate at the global, regional, and country levels.
- In-depth analysis of the global automotive embedded system market segmentation by type, component, and application.
- The report contains comprehensive and authentic data for all factors, including CAGR, consumer purchasing trends, supply and demand, and major regional countries’ import/export statistics.
- The automotive embedded system market report includes global, regional, and country-level market analysis, key market trends, major players analysis, market growth strategies, and key application areas.
The Global Automotive Embedded System Market is Segmented into:
|Forecast Period||2022 – 2028|
|Historical Year||2016 – 2021|
|By Type (2016–2028; US$ Bn)|
|By Component (2016–2028; US$ Bn)|
|By Application (2016–2028; US$ Bn)|
|By Geography Segment (2016–2028; US$ Bn)|