Report : South America Automotive Embedded System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Software and Hardware), Component (Memory Devices, Microcontrollers, and Sensors and Drivers), and Application (Powertrain & Chassis Control, Body Electronics, and Multimedia and Integrated Systems/Services)
According to The Insight Partners market research study on “SAM Automotive Embedded System Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Component, and Application” is expected to reach US$ 448.45 million by 2028 from 308.09 US$ million in 2021. The market is estimated to grow at a CAGR of 5.5% from 2021 to 2028. The report provides trends prevailing in the SAM automotive embedded system market along with the drivers and restraints pertaining to the market growth. Electric vehicles getting popular is the major factor driving the growth of the SAM automotive embedded system market. However, embedded system facing various durability issue hinders the growth of SAM automotive embedded system market.
SAM automotive embedded system market is segmented into type, component, application, and country. Based on type, the SAM automotive embedded system market is segmented into software and hardware. Hardware segment held the largest market share in 2020. Based on component, the SAM automotive embedded systems market is segmented into memory devices, microcontrollers, and sensor and drivers. Sensor and drivers segment held the largest market share in 2020. Based on application, the SAM automotive embedded systems market is segmented into powertrain & chassis control, body electronics, and multimedia and integrated systems/services. Multimedia and integrated systems/services held the largest market share in 2020 Based on country, the SAM automotive embedded system market is segmented into Brazil, Argentina, and rest of SAM. Brazil held the largest market share in 2020.
Brazil has reported the highest number of COVID-19 cases in SAM, followed by Ecuador, Chile, Peru, and Argentina, among others. Most of the commercial operations in the region was shut down in 2020 to prevent the spread of the disease. Lockdowns imposed in cities have compelled most production plant operators to suspend their operations indefinitely, which has led to the discontinuation in the demand for mechanical and electronic parts. Therefore, the COVID-19 pandemic is restraining the automotive embedded system market growth in SAM.
Continental AG, Denso Corporation, Garmin Ltd., Harman International, Infineon Technologies AG, Mitsubishi Electric Corporation, Panasonic Corporation, and Robert Bosch GmbH are among the leading companies in the SAM automotive embedded system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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