Agreements, Partnerships, Collaborations, and Joint Ventures are the Key Strategies Adopted by Market Players to Achieve Growth in the Automotive Embedded System Market.
The global automotive embedded system market is projected to grow at a CAGR of 6.87% during the forecast period, to reach USD 27.59 Billion by 2022 from an estimated USD 38.47 Billion in 2017. The increasing demand for electric vehicles, trend of vehicle electrification, and increasing demand for advanced safety, comfort, and convenience systems have fueled the demand for automotive embedded system market across the globe.
Agreements, partnerships, collaborations, and joint ventures are the key strategies adopted by market players to achieve growth in the automotive embedded system market. Robert Bosch (Germany), Panasonic (Japan), TOSHIBA (Japan), Continental AG (Germany), Delphi Automotive (U.K.) are some of the companies that adopted these strategies.
New product launch and development was the second most adopted strategy by automotive embedded system manufacturers to cater to the growing demand from original equipment (O.E.) customers. Panasonic (Japan), Robert Bosch (Germany), Magna International (Canada), Texas Instruments (U.S.), Hella KGaA Hueck & Co. (Germany), and Harman International (U.S.) are some of the embedded system manufacturers who have adopted the strategy of new product development.
The automotive embedded system market has witnessed significant growth in developing countries. The market growth in developing countries can be attributed to increased vehicle production in China, India, and certain countries in the Rest of the World (RoW) region such as Russia and Brazil. Also, OEMs are targeting emerging economies to expand their existing production capacity.
Continental AG is one of the leading players in the global automotive embedded system market. The company is one of the largest providers of automotive embedded system solutions catering to all vehicle segments including passenger cars, light commercial vehicles (LCV), and heavy commercial vehicles (HCV). Continental AG, in June 2017, joined the collaboration between BMW (Germany), Intel (U.S.), and Mobileye (Israel) for automated driving. Continental AG will provide systems integration for the autonomous vehicles.
Panasonic manufactures and sells automotive and other consumer products. The company operates through four major business segments—automotive and industrial systems, appliances, eco solutions, and connected solutions. The company has 257,533 employees in 496 consolidated companies throughout the world. The company offers automotive embedded system solutions under the automotive and industrial systems segment. The solutions are provided for infotainment, eCockpit, connectivity, audio solutions, comfort & security, and advanced driver assistance systems (ADAS).
Related Reports:
Embedded Systems in Automobiles 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
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