LONDON--(BUSINESS WIRE)--The global automotive hypervisor market is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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. Moreover, innovative technologies such as ADAS and connected vehicles are also growing rapidly and have immense growth potential due to the improved safety regulations in various countries. Therefore, the advent and increase in automotive electronics will foster the growth of the global automotive hypervisor market during the forecast period.
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As per Technavio, increasing adoption of vehicle platooning will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Automotive Hypervisor Market: Increasing Adoption of Vehicle Platooning
Vehicle platooning enables multiple cars, buses, and trucks to 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. The involvement of multiple systems in vehicle platooning mandates the optimum use of limited hardware and software. This is made possible by the deployment of virtualization solutions and automotive hypervisors which ensures the smooth functioning of all systems and subsystems without disruption. Thus, the use of various advanced systems in vehicles will fuel the adoption of virtualization and automotive hypervisors during the forecast period.
“Rising need for virtualization in the automotive domain, growing focus of OEMs on the development of autonomous vehicles, and rising demand for vehicle connectivity solutions are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Automotive Hypervisor Market: Segmentation Analysis
This market report segments the global automotive hypervisor market by type (type 1 hypervisors and type 2 hypervisors) and geography (APAC, Europe, MEA, North America, and South America).
Europe led the market in 2018, followed by APAC, North America, MEA, and South America respectively due to the growing demand for advanced automotive electronics in key economies including Germany, France, Italy, Spain, and the UK. However, APAC is anticipated to contribute to the highest incremental growth owing to the rapid adoption of automotive hypervisors to improve safety, reduce emission, and increase the convenience of the drivers.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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