The Global Automotive Embedded Systems Market Growth Accelerated By Increased Adoption Of Connected And Autonomous Vehicles

 

Automotive embedded systems are complex electronic and computer systems used in vehicles to control integrated applications and connected car functions. These systems perform tasks such as controlling the brakes, engine, transmission, music systems, GPS navigation, collision warning systems, and stability control units in modern vehicles. The growing demand for improved safety, convenience, and infotainment features in automobiles has accelerated the adoption of automotive embedded systems.

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 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increased adoption of connected and autonomous vehicles is one of the major trends driving the growth of the automotive embedded systems market. Connected and autonomous vehicles use advanced automotive embedded systems to analyze data collected from multiple vehicle sensors and cameras to detect objects, interpret sensory information to identify safe trajectories and maneuver appropriately. As connectivity and automation become increasingly prevalent in modern vehicles, the demand for more powerful and sophisticated automotive embedded systems is projected to surge. Automotive software platforms coupled with artificial intelligence and cloud connectivity are also enabling a wide range of advanced driver assistance, infotainment and telematics solutions. This is another key trend expected to boost the demand for automotive embedded systems as OEMs continue to focus on developing fully autonomous vehicles over the coming years.

Segment analysis
The global automotive embedded systems market is dominated by the powertrain sub segment. Over the forecast period, the powertrain sub segment is expected to witness high growth as automotive embedded systems finds increasing applications in engine management systems and transmission control units. The powertrain sub segment currently holds more than 30% of the overall market share due to growing demand for fuel efficiency and low emission vehicles.

Key takeaways
The Global Automotive Embedded Systems Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to increase from US$ 18.12 Mn in 2023 to reach around US$ 32 Bn by 2030, expanding at a CAGR of around 12%.

Regional analysis
North America currently dominates the global automotive embedded systems market and is expected to maintain its leading position through 2030. The high vehicle production and presence of major automotive OEMs are driving the demand for automotive embedded systems in the region. Asia Pacific is projected to witness the fastest growth over the coming years backed by increasing vehicle sales and flourishing automotive industry in major countries like China and India.

Key players
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.

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