The electrification of transportation has been one of the primary developments of the 21st century. Governments have also started a number of projects in collaboration with private businesses to build charging infrastructure. These activities are contributing to the growth of the SAM electric vehicle sector, thus increasing the demand for embedded systems to build these cars. Rising fuel prices and fossil fuel reserve depletion have prompted a shift to renewable energy sources. Automotive players are manufacturing new electric car models, which are gaining appeal among customers. Furthermore, fleet owners of commercial vehicles are recognizing the cost-savings associated with using electric cars and are replacing their older vehicles with electric vehicles. The reduced operating costs of electric automobiles are a major factor bolstering the SAM electric vehicle sector, which is, in turn, boosting the automotive embedded system market.
Brazil has reported the highest number of COVID-19 cases in SAM, followed by Ecuador, Chile, Peru, and Argentina, among others. Most of the commercial operations in the region was shut down in 2020 to prevent the spread of the disease. Lockdowns imposed in cities have compelled most production plant operators to suspend their operations indefinitely, which has led to the discontinuation in the demand for mechanical and electronic parts. Therefore, the COVID-19 pandemic is restraining the automotive embedded system market growth in SAM.
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 SAM automotive embedded system market. The SAM automotive embedded system market is expected to grow at a good CAGR during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 308.09 Million |
| Market Size by 2028 | US$ 448.45 Million |
| CAGR (2021 - 2028) | 5.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Automotive Embedded System Market is valued at US$ 308.09 Million in 2021, it is projected to reach US$ 448.45 Million by 2028.
As per our report South America Automotive Embedded System Market, the market size is valued at US$ 308.09 Million in 2021, projecting it to reach US$ 448.45 Million by 2028. This translates to a CAGR of approximately 5.5% during the forecast period.
The South America 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 South America Automotive Embedded System Market report:
The South America Automotive Embedded System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Automotive Embedded System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Automotive Embedded System Market value chain can benefit from the information contained in a comprehensive market report.
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