The automotive embedded systems industry refers to the integration of hardware and software components into vehicles to perform dedicated control functions. These systems are used for safer and more efficient operation of various automotive components like engine management, braking, suspension, steering, entertainment and navigation. Advancements in artificial intelligence and connectivity are enhancing the capabilities of embedded systems in managing complex functions. The increasing consumer demand for infotainment, comfort and safety features is also accelerating the adoption of embedded systems in modern vehicles.
The Global Automotive Embedded Systems Market is estimated to be valued at US$ 10.79 Billion in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period to 2031.
Key Takeaways
Key players operating in the Automotive Embedded Systems are Robert Bosch GmbH, Panasonic Corporation, Toshiba, Continental AG, Denso Corporation, Mitsubishi Electric Corporation,Texas Instruments Incorporated, Infineon Technologies AG, Harman International. These companies are focusing on developing advanced driver-assistance systems and fully autonomous solutions through strategic collaborations and acquisitions.
The Automotive Embedded Systems Market Demand for enhanced driving experience among consumers is a major factor driving the automotive embedded systems market. Rising middle-class population, increasing disposable incomes and rapid urbanization in emerging economies are increasing automotive sales which is further accelerating the demand. Moreover, the implementation of safety laws by regulators along with technological advancements is positively impacting market growth.
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