LONDON--(BUSINESS WIRE)--The global automotive hypervisor market is expected to post a CAGR close to 5% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the growth of automotive electronics. With the advent of electronic components, automobile manufacturers are replacing the mechanical components in automobiles with advanced electronically powered parts. These electronic parts provide more accuracy and efficiency compared with mechanical parts. For instance, innovative technologies such as ADAS and connected vehicles are growing rapidly and have immense growth potential. In addition, the improved safety regulations in various countries are expected to further boost the demand for ADAS-enabled vehicles. Therefore, the advent and increase in automotive electronics will foster the growth of the global automotive hypervisor market during the forecast period.
As per Technavio, the adoption of vehicle platooning will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global automotive hypervisor market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global automotive hypervisor market: Adoption of vehicle platooning
In vehicle platooning, multiple cars, buses, and trucks travel at an aerodynamically efficient distance and drive cooperatively by maintaining the distance at high speeds. For this purpose, the platooning system uses the ADAS installed in the vehicles, along with high-end specific platooning algorithms involving the sensor fusion of radar, LiDAR, and cameras. Communications among vehicle fleets are enabled by wireless connectivity. The vehicles in the platoon automatically synchronize their speed and braking actions, resulting in higher fuel efficiency and improved traffic congestion control for all vehicles in the platoon. The involvement of multiple systems in vehicle platooning mandates the optimum use of hardware and software. Hence, the use of a large number of systems in vehicles with the help of limited hardware will fuel the adoption of virtualization and automotive hypervisors during the forecast period.
“Apart from the adoption of vehicle platooning, the rising demand for vehicle connectivity solutions is another factor that is expected to boost market growth. Automobile manufacturers are determined to equip their vehicles with advanced connectivity solutions, thereby ensuring the high penetration of connected cars in the future. Furthermore, OEMs, technology companies, and various other component suppliers are working toward the development of vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication solutions. Such developments are expected to influence the global automotive hypervisor market during the forecast period,” says a senior analyst at Technavio.
Global automotive hypervisor market: Segmentation analysis
This market research report segments the global automotive hypervisor market by type (type 1 and type 2) and geographical regions (Europe, APAC, North America, MEA and South America).
The European region led the market in 2018, followed by APAC, North America, MEA and South America respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the rapid progress in the adoption of new technologies in the region.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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