Report : Middle East and Africa Automotive Embedded System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Software and Hardware), Component (Memory Devices, Microcontrollers, and Sensors and Drivers), and Application (Powertrain and Chassis Control, Body Electronics, and Multimedia and Integrated Systems/Services)
Multimedia and Integrated Systems/Services Segment to Dominate MEA Automotive Embedded System Market during 2020–2028
According to a new market research study on “MEA Automotive Embedded System Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Component, and Application” is expected to reach US$ 133.27 million by 2028 from 98.73 US$ million in 2021. The market is estimated to grow at a CAGR of 4.4% from 2021 to 2028. The report provides trends prevailing in the MEA automotive embedded system market along with the drivers and restraints pertaining to the market growth. Growing implementation of AI is the major factor driving the growth of the MEA automotive embedded system market. However, associated with durability of embedded system hinders the growth of MEA automotive embedded system market.
MEA automotive embedded system market is segmented into type, component, application, and country. Based on type, the MEA automotive embedded system market is segmented into software and hardware. Hardware segment held the largest market share in 2020. Based on component, the MEA automotive embedded systems market is segmented into memory devices, microcontrollers, and sensor and drivers. Sensor and drivers segment held the largest market share in 2020. Based on application, the MEA automotive embedded systems market is segmented into powertrain & chassis control, body electronics, and multimedia and integrated systems/services. Multimedia and integrated systems/services held the largest market share in 2020. Based on country, the MEA automotive embedded system market is segmented into Saudi Arabia, South Africa, UAE, and rest of MEA. South Africa held the largest market share in 2020.
Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait are the main MEA countries that are facing the serious effects of the COVID-19 pandemic. The majority of operations in the region have been suspended due to an increase in the number of cases in the region. To combat the pandemic, countries have been compelled to redirect funds to improve their healthcare infrastructure. As a result, the demand for passive components in the automotive industry is dwindling, thereby limiting the automotive embedded system demand generation in the MEA.
Continental AG, Denso Corporation, Garmin Ltd., Harman International, Infineon Technologies AG, Mitsubishi Electric Corporation, Panasonic Corporation, and Robert Bosch GmbH are among the leading companies in the MEA automotive embedded system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Mitsubishi Electric Corporation stated that it would begin building a new facility in Gujarat, India, at its subsidiary Mitsubishi Electric Automotive India Pvt. Ltd (MEAI). MEAI's new factory, along with one in Manesar, Haryana, will allow the business to increase production of items like as electric power steering motor-control units, exhaust gas recirculation valves, and gigantic magnet
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