The global automotive embedded system market is anticipated to grow at a considerable CAGR of 7.4% during the forecast period (2022-2028). Automotive embedded systems are the systems that are designed for autonomous control of several physical components of motor vehicles, including the powertrain, telematics, electric, and infotainment system. The major factor attributing to the growth of the global automotive embedded system market includes the increasing use of automotive embedded software in advanced drive assistant systems (ADAS) and safety systems of motor vehicles due to the increase in road traffic accidents across the globe. According to the report published by the World Health Organization (WHO) in June 2021, the mortality rate due to road traffic accidents is very high with the mortality of around 1.3 million people globally every year. It is estimated that road traffic accidents can cost most countries by up to 3% of their gross domestic product. The report also described that around 20 million to 50 million people also suffer from non-fatal injuries as a result of road traffic accidents.
Another factor driving the growth of the global automotive embedded system market is the increasing production of motor vehicles with installed advanced technologies. According to the 2021 Production Statistics report published by the International Organization of Motor Vehicle Manufacturers (OICA), around 80 million motor vehicles were produced across the globe in 2021. Among these, around 23 million commercial vehicles were manufactured and around 57 million passenger cars were produced in 2021.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in March 2019, Mitsubishi Motors Corp. established and started a new innovation center in Tokyo, Japan. The new center is specially established to develop automotive embedded software with the aim to enhance the capabilities of automotive software for next-generation vehicles.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- By Component
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Denso Corp., Continental AG, Harman International, Mitsubishi Electric corp., and Panasonic Corp., among others.
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Global Automotive Embedded System Market Report by Segment
By Type
- Embedded Software
- Embedded Hardware
By Application
- Electrical System
- Infotainment System
- Powertrain System
- Advanced Driver Assistant System (ADAS)
- Telematics System
By Component
- Sensors
- Microcontroller Units (MCUs)
- Integrated Circuits
- Transreciever
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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