Embedded System for Electric Vehicle Market to Benefit from Development in Charging Infrastructure :

Pune, India, July, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Embedded System for Electric Vehicle Market Research Report.

The global embedded system for electric vehicle market has witnessed consistent growth over the past few years and is projected to capture a moderate CAGR over the forecast period of 2011-2027, reveals a research report published by Market Research Future (MRFR). Embedded systems have observed rapid growth in electric vehicles on account of various advantages that they offer such as reduction in vehicle accidents, increase in safety, and driving comfort with driver assistance functions like adaptive cruise control. Car manufacturers mostly concentrate on the functionality of cars as a hardware device only, thus complexities regarding safety and comfort arise in electric vehicles. Manufacturers have come up with novel approaches to cope up with this issue which has resulted in a paradigm shift from hardware to software and ultimately augmented the growth of the market. Increase in the consumer base of electric vehicles is a crucial driver of the market.  Moreover, in the present competitive era, embedded systems and software in vehicles have become essential to improve performance and comfort, and automotive manufacturers are increasingly leveraging such systems to gain a substantial edge over the market. Additionally, innovations in embedded systems such as anti-lock braking systems, electronic stability control, or emergency brake assistants have significantly contributed to the growth of the market. The factors limiting the growth of the market include high development cost and time associated with embedded systems for electric vehicles which is a significant impediment. Additionally, embedded systems run on high-end software algorithms which lead to high battery consumption and increased use of processor space.  Moreover, a large of ECUs, as many as 100 are installed into an electrical architecture of car which leads to insufficient space to accommodate them and also raises the overall cost. Increasing design complexity is also a major hindrance to the growth of the market

Segmentation

The global embedded system for the electric vehicle market has been segmented based on components and application. By components, the market has been segmented into Sensors, MCU, Transceivers, and Memory Devices. By application, the market has been segmented into infotainment & Telematics, Body Electronics, and Safety & Security.

Regional Analysis

The principal markets of the global embedded system for electric vehicle market include North America, Europe, Asia Pacific. Asia Pacific accounts for the most significant share of the market. Asia Pacific is dominating the market owing to the growing electric vehicle industry in the region coupled with government initiatives to support the adoption of electric vehicles. Europe and North America follow Asia Pacific. Factors that have been responsible for this growth are the development of charging infrastructure in the form of recharge stations and other policies along with the increase in sales of electric cars which has been growing at a rapid pace. Countries such as Germany, UK, France, and Norway are vital contributors owing to high disposable income in the region.

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Competitive Landscape

The global embedded system for the electric vehicle market is highly competitive with the presence of many established players. The key players functioning in the market include Robert Bosch (Germany), Panasonic (Japan), Mitsubishi Electric (Japan), Continental AG (Germany), Texas Instruments (U.S.), and DENSO (Japan).

Industry Updates

In July 2018, Hyundai Motor Group, a leading car manufacturer and Baidu Fortify announced a partnership to produce next-generation connected car technologies. Hyundai cars will be embedded with Xiaodu's In-car OS and will be mass produced, and through this partnership, the companies aim to co-develop a connected car service that would provide a broad range of in-car content such as real-time traffic status and live information about the user’s end-destinations, etc.