The global embedded systems in automobile market demand is expected to witness considerable growth over the forecast period. Embedded systems consist of hardware and software which jointly facilitate the precise functioning of a device. The primary characteristics of these systems are adaptability, reliability, power, efficiency, speed, and accuracy. These systems are defined as special-purpose solutions and functionality detail that is designed characteristically for meeting real-time limitations. Embedded systems are utilized across a diverse range of application fields which involve rail, space, automotive, electronic payment solutions, aeronautics, and mobile communication.
Other factors, such as applications of these systems in the automobile industry, growing demand for these systems accompanied by embedded graphics, are expected to drive the growth of embedded systems in the automobile market. However, increasing demand for power-efficient and smarter automobiles and automobile devices has augmented the need for these systems in the auto industry for the last few years. These systems are the nucleus of smart products; growing demand for these devices has been ensuing in increasing penetration of embedded software and hardware in the automobile industry. Growing demand for multimedia products and portable computing devices in the vehicle market such as GPS, parking sensors are expected to boost the growth of these systems in the automobile market.
Also, the high economic growth of budding markets across the world is projected to drive the growth of the embedded system in the auto industry market. The effect of all these trends is expected to augment these systems in the automobile industry market over the forecast period. The expansion of the Internet of Things (IoT) is altering the nature of the devices that are attached to motors and their data into an OOPS. This has opened up new opportunities for a software system, specifically Java to be the natural means of interaction, development, and control. Near Field Communication (NFC) payment, embedded sensors, and image recognition equipment are essential IOT elements that are rooted in mobile devices and automobiles.
By functionality, this market can be segregated into hardware and software. The growth of both segments is expected to rise rapidly owing to the increasing demand for embedded systems in hybrid electric vehicles across the world. By geographical regions, this market can be segregated into Asia Pacific, North America, Europe, and the Rest of World. Asia-Pacific is expected to show rapid growth over the forecast period owing to the increasing demand for luxuries in automobiles. The significant shift in the automobile industry that is growing demand for hybrid electric vehicles across these regions is expected to drive the growth of this market. North America is projected to capture maximum revenue over the forecast period owing to the increasing use of hybrid vehicles in these areas and an increase in the account of disposable income in this area.
By application, this market can be segregated into ignition, security, and entertainment. Fuel injection systems, GPS, airbag, and anti-locking breakage systems are some of the examples where embedded systems are used. Active suspension, electronic power steering, multi-function camera, blind spot detection electronic stability sensors, adaptive cruise control, side-impact detector, and wheel speed sensor are some of the other applications. The Airbag section is expected to generate maximum revenue over the forecast period.
Automobile companies are trying their best to make their vehicle more energy-efficient, safer, and network savvy. Nowadays embedded systems cost around one-fourth of total vehicle costs. Embedded systems are capable of making automobiles more capable regarding efficiency, luxury, and security. Auto companies are trying their best to innovate their product design by incorporating embedded systems in their cars more efficiently. Nowadays most of the premium segment auto vehicles effectively contain around 100 electronic integrated system units. This market is expected to be highly competitive over the forecast period owing to increasing investment that has been done by many companies in research & development. In the coming future, this market is expected to be innovation-driven due to high competition which is scheduled to be present in the market over the forecast period. Some of the key players in the market include Renesas Electronics Corporation (Japan), Atmel Corporation (U.S.), Infineon Technologies (Germany), Infosys, Pvt. Ltd., India, Microsoft Corporation (U.S.), Texas Instruments, Inc (U.S), HCL Technologies, Ltd. (India), Freescale Semiconductor, Intel Corporation (U.S.) and NXP Semiconductors (The Netherlands).
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The recent COVID-19 pandemic that has been ravaging numerous countries across the globe has adversely affected the overall sensor, control, and automation industry. While the capital investments in the automation sector have been lethargic before the pandemic, they are expected to be put on hold or postponed for at least a year. However, the recent standstill in industrial manufacturing and production is anticipated to act as a wake-up call for the manufacturing sector on its reliance on human labor. This, in turn, is expected to highlight the advantages of robotics and automation helping a greater adoption in the post-pandemic period. As IoT, industrial automation, and digitalization are expected to become increasingly relevant to post-pandemic Tier 1 manufacturers, it may eventually turn into an opportunity especially in evolving supply chains. The report will account for Covid19 as a key market contributor.