In the last two decades, autonomous driving has progressed from science fiction to a plausible prospect due to significant advancements in the radar technology and computer capability. Further, the portable technology has flourished to the point that ultralight electronics can make judgments based on self-improving algorithms, enabling engineers to emulate human decision-making in the design of autonomous vehicles. Furthermore, the next generation of completely autonomous cars would necessitate extremely intelligent systems that will be significantly more sophisticated than the existing embedded systems. These automobiles would require the functioning of multiple complicated artificial intelligence (AI) software and systems for navigation, road and vehicular awareness, traffic patterns, pedestrian awareness, and danger awareness and assessment systems, among others, on their computing systems. The process of addressing these computational and intelligence needs is likely to give rise to a new generation of embedded processors in the future, which would prove as a significant opportunity for the automotive embedded systems market players during the forecast period.
The COVID-19 epidemic has been a headache for Asian automakers. The widespread suspension strategy of Asian carmakers threatens to stifle metal and petrochemicals demand from the industry. Furthermore, in terms of automotive production, China is the biggest car market, and Wuhan, which is a center of an outbreak, which is also called as a “motor city”. The city is home to auto plants such as Peugeot Group, Honda, General Motors, Nissan, and Renault. For instance, Honda alone in Wuhan accounts for ~50% of total production in China. Also, Hubei Province, a Capital of Wuhan, was the 4th largest car producer in China in 2019. The SARS-CoV-2 pandemic has interrupted business operations of various manufacturing businesses, including automotive. As a result, the COVID-19 has impacted the region's automotive sector, but ongoing vaccine campaigns are bringing back on the right path, which is a good indication of the gradual progress of embedded system manufacturers.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC automotive embedded system market. The APAC automotive embedded system market is expected to grow at a good CAGR during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2,031.19 Million |
| Market Size by 2028 | US$ 3,261.84 Million |
| CAGR (2021 - 2028) | 7.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Automotive Embedded System Market is valued at US$ 2,031.19 Million in 2021, it is projected to reach US$ 3,261.84 Million by 2028.
As per our report Asia Pacific Automotive Embedded System Market, the market size is valued at US$ 2,031.19 Million in 2021, projecting it to reach US$ 3,261.84 Million by 2028. This translates to a CAGR of approximately 7.0% during the forecast period.
The Asia Pacific Automotive Embedded System Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Automotive Embedded System Market report:
The Asia Pacific Automotive Embedded System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Automotive Embedded System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Automotive Embedded System Market value chain can benefit from the information contained in a comprehensive market report.
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