by Automotive embedded systems are electronic and software systems that are integrated into vehicle components and systems providing vehicle control, networking and safety functions. Automotive embedded systems help enable infotainment, telematics, autonomous driving, and enhanced vehicle connectivity.
The global automotive embedded systems market is estimated to be valued at US$ 18.12 million in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rapid increase in connected and autonomous vehicles is driving significant growth in automotive embedded systems market. Automakers are integrating more electronic and software systems to enable vehicle connectivity through embedded telematics systems. Advanced driver assistance systems (ADAS) and automated driving systems require a complex network of embedded systems for functions like automatic braking, lane keeping and autonomous navigation. Rising demand for richer in-vehicle infotainment with features like navigation, wireless connectivity and live traffic updates is also augmenting the need for more powerful automotive embedded systems. With continued technological advancement, modern vehicles now contain over 100 embedded electronic control units (ECUs) to manage various electrical systems and enhance overall vehicle connectivity, performance and safety through integration of advanced automotive embedded systems.
SWOT Analysis
Strength: Automotive embedded systems help improve safety and convenience by enabling features like collision avoidance systems, navigation, and vehicle diagnostics. They provide centralized control over other vehicle electronics and systems.
Weakness: Developing reliable embedded software is complex and costly. It requires specialized engineering knowledge and skills. Systems may also be vulnerable to cyber threats.
Opportunity: Growth of connected vehicles, autonomous driving technologies, and vehicle electrification will drive demand for more advanced automotive embedded systems. Increased processing power enables new and enhanced in-vehicle features.
Threats: Stiff competition among established players may squeeze profit margins. Short product lifecycles require continuous investments in R&D to develop new solutions. Delays in technology adoption could impact revenue forecasts.
Key Takeaways
The Global Automotive Embedded Systems Market Size is expected to witness high growth. Increased vehicle technologies integration and an exponential rise in data generated from connected vehicles are fueling market expansion. The global automotive embedded systems market is estimated to be valued at US$ 18.12 million in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030.
Regionally, North America currently dominates due to the presence of major automakers and a higher adoption rate of new technologies. However, Asia Pacific is poised to grow at a fast pace led by China, Japan, and India.
Key players operating in the automotive embedded systems market are Diadem srl., Proteomedix, Cleveland Diagnostics, F. Hoffmann-La Roche Ltd, GENFIT, Nutech Cancer Biomarkers India Pvt Ltd, SysmOex Corporation, Minomic, Creative Diagnostics, Eisai Co., Ltd., and C2N Diagnostics. These firms continuously invest in innovations to provide technologically advanced solutions tailored for new vehicle models and features. They also pursue strategic partnerships and acquisitions to enhance their product portfolios.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
