PUBLISHER: Inkwood Research | PRODUCT CODE: 1152313
PUBLISHER: Inkwood Research | PRODUCT CODE: 1152313
The Asia-Pacific automotive embedded systems market is predicted to register a CAGR of 5.77% during the forecast period, 2022-2030. The continuous availability of high-speed internet and the increasing penetration of smartphones have boosted the demand for infotainment systems. Also, infotainment systems are increasingly incorporated into premium cars. This offers growth opportunities for automotive embedded systems.
Taiwan, South Korea, Thailand, China, Vietnam, Indonesia, Malaysia, Japan, India, and Rest of Asia-Pacific are assessed for the Asia-Pacific automotive embedded systems market growth analysis. In Japan, the increasing priority of vehicle-integrated features, the rising vehicle electrification trend, the growing demand for automation, and government regulations on fuel efficiency and emissions propel the demand for advanced features. Also, major corporations, along with the government, are looking to accelerate the deployment and development of electric vehicles.
Further, in Indonesia, the government increasingly prioritizes the development of the electronics sector as part of its making Indonesia 4.0 (4.0 industry) with regard to digital transformation. The initiative further aims to raise the quantity and quality to increase competitive rivalry in the international and domestic markets. For instance, as per the Indonesian Ministry of Industry, the total export value of the country's telematics and electronic products reached $7.8 billion in 2019.
At present, the electronics sector is thriving with regard to exports and products. As per the Indonesian Ministry of Industry, the export value of home items in 2021 was $1.8 billion from January to September. This projected a 98% increase from 2020. Such factors drive market growth in these countries.
Some of the leading companies in the market include: Panasonic Corporation, Samsung Electronics Co Ltd (Harman International), Renesas Electronics Corporation, Robert Bosch GmbH, etc.