New York, United States, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The automotive hypervisor is an embedded technology that was specifically created for use in automobiles and is utilized for in-vehicle entertainment. “The global automotive hypervisor market size is projected to reach USD 1943.57 million by 2030 at a CAGR of 30.76% from 2022 to 2030.,” quoted by the Research Manager at Straits Research P. Ltd.
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KEY DRIVERS
In the development of autonomous vehicles and mobility services, hypervisor technology is anticipated to be essential. The ADAS system has already shown itself to be reliable, and new, enhanced versions are constantly being released. For instance, Tesla also began producing its Model 3, which has the hardware necessary for fully autonomous driving capabilities at a degree of safety much beyond that of a human driver. The development of the industry is being further fueled by technological breakthroughs like the Electronic Control Unit (ECU), intelligent mobility technologies, and improvements to powertrain systems. In an ECU, an automotive hypervisor is used to virtualize the hardware parts of autonomous and semi-autonomous vehicles and to operate their systems.
GROWTH OPPORTUNITIES
The focus of automotive stakeholders has shifted decisively to autonomous vehicles. To make autonomous cars a reality, they have poured billions of dollars and their best assets into the project. Currently, a car has a range of electrical parts that allow it to sense its surroundings and communicate with objects outside of it. The entire communication process with outside parties has highlighted the requirement to produce a sizable amount of data, which is helpful in implementing machine learning with algorithms in the vehicle's computer system. The implementation of AI and the creation of semi-autonomous and autonomous vehicles depend on a solid automotive integrated hypervisor system.
REGIONAL ANALYSIS
The automotive hypervisor market is divided into five regions based on geography: North America, South America, Europe, Asia Pacific, and MEA. Over the foreseeable period, moderate growth is anticipated in North America and Europe. The major corporations have operational divisions situated in industrialized nations like the United States, Germany, and so forth. Automobile sales and the expanding economies in South America and the Asia Pacific are also anticipated to increase demand for automotive hypervisors.
The automotive hypervisor market is anticipated that this region will see the greatest CAGR during the forecast period. Customers now have more purchasing power thanks to rising per capita incomes in developing nations like China and India. Increased sales of passenger cars are anticipated as a result, which will fuel the market's expansion. Furthermore, the expansion of the Asia Pacific regional market is anticipated to be further fueled by the arrival of local competitors with cutting-edge business models in the growing regions.
KEY HIGHLIGHTS
- Autonomous Vehicle & Mobility Services and technological advancements are some of the major drivers of the market.
- This market can be segmented based on products, vehicle type, mode of operation, end-users, regions, and competitors.
- By 2030, the Asia Pacific is anticipated to have the largest market share, with North America emerging as the fastest-growing market.
COMPETITORS ANALYSIS
Along with Continental AG, Renesas Electronics Corporation, NXP Semiconductor N.V., Wind River System Inc., Green Hills Software LLC, Sasken Technologies Ltd., and Mentor Graphics Corporation, these companies are among the market's top competitors. To maintain its market position, each of these businesses has adopted a different strategy, such as alliances, teamwork, and the creation of new products. Due to their extensive global distribution networks, all the market's companies have been able to increase their market shares.
MARKET SEGMENTATION
Product Type Scope Outlook:
- Type 1
- Type 2
Vehicle Type Outlook:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Mode of Operation Outlook:
- Autonomous Vehicle
- Semi-autonomous Vehicle
End-User Outlook:
- Economy
- Mid-priced
- Luxury
Regional Outlook:
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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About Straits Research Pvt. Ltd.
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