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Automotive Embedded System Market Worth $7.4B by 2022
August 1, 2017 | PRNewswireEstimated reading time: 1 minute
The report "Automotive Embedded System Market by Vehicle, Electric Vehicle, Type, Component (Sensors, MCU, Transceivers, and Memory Devices), Application (Infotainment & Telematics, Body Electronics, and Safety & Security), and Region - Global Forecast to 2022", published by MarketsandMarkets, the Automotive Embedded System Market is estimated to be USD 5.15 Billion in 2017 and is projected to grow to USD 7.41 Billion by 2022, at a CAGR of 7.56%.
The increasing demand for electric vehicles, advanced safety, comfort, and convenience systems, and rising trend of vehicle electrification in the automotive industry are some of the key factors fueling the growth of this market.
Safety & Security segment to hold the largest share of the Automotive Embedded System Market, by application type
The safety & security application is estimated to hold the largest share, by value, of the Automotive Embedded System Market in 2017. The mandatory installation of anti-lock braking systems (ABS) and electronic stability systems in the U.S. and European countries has contributed to the growth of this application. Likewise, in India, airbags, ABS, and speed warning system will be mandatory for all cars from October 2018. The growing installation rate of various safety features in vehicles are the key drivers for the safety & security application market.
Sensor component To acquire the largest market share
The sensors component is estimated to hold the largest share of the Automotive Embedded System Market, by component type. The increasing number of electric vehicles and growing trend of vehicle electrification in the automobile industry have driven the growth of the automotive sensors market.
Asia-Pacific: The largest market for the Automotive Embedded System Market
The Asia-Pacific region is estimated to hold the largest share, by value, of the Automotive Embedded System Market in 2017. The demand for automotive embedded system in this region is triggered by increasing vehicle production in developing nations such as China and India and the increasing number of electric vehicles in countries such as China and Japan. The region is also the leading producer of automobiles in the world.
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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