According to a new market report published by Credence Research, Inc., “Global Automotive Hypervisor Market (By Product Type (Type-1 and Type-2), By Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles) – Growth, Future Prospects and Competitive Landscape, 2019 – 2027”, the global automotive hypervisor market is projected to witness a substantial growth, expanding at a CAGR of 17.3% across the forecast period.
The global automotive industry is witnessing a phenomenon of electronic control unit (ECU) consolidation where functions like connected and self-driving car gateways are integrated onto a single ECU. Automotive hypervisor is used in ECU for virtualization. It helps virtualizing the hardware components of an autonomous or semi-autonomous vehicle and assists in controlling them. Due to the growing penetration of autonomous vehicles, the market for automotive hypervisor is expected to witness a notable growth during the forecast period from 2019 to 2027.
Today, passengers are more aware and concerned about their personal safety on road. According to a study by the U.S. Department of Transportation’s National Highway Traffic Safety Administration, over 90% of accidents on the road are due to human errors. Drop in this number of accidents would have been potentially saved over US$ 190 Bn of US economy. As a result, demand for more efficient vehicles with advanced user interface and driver assistance system coupled with growing penetration of self-driving cars can help in reducing the accident rates, subsequently driving the market growth of automotive hypervisor worldwide.
The global automotive hypervisor market, based on product type, was dominated by the type-1 automotive hypervisor in 2018. The growth of this segment is mainly accredited to the superior features provided by type-1 hypervisor in comparison with its counterparts. Type-1 automotive hypervisor act as its own operating system and each virtual machine runs on top of it. As it is completely independent from host operating system it provides better performance compare to its counterpart.
Further, based on geography, North America led the automotive hypervisor market in 2018. The growth of this region is mainly due to the presence of large number of driver-less car manufacturing companies. In addition, impetus provided by the governments for promoting autonomous vehicles and consequent investments made by the automotive companies in R&D further drives the growth of the automotive hypervisor market in North America.
Some of the major vendors profiled in the global automotive hypervisor market include Mentor Graphics Corporation, BlackBerry Limited, Renesas Electronics Corporation, Sasken Technologies Limited, Continental AG, Visteon Corporation, Wind River System, Baidu Inc., NXP Semiconductors N.V., Siemens AG, Harman International Industries, Inc., and VMware Inc. among others. These companies are heavily investing in the R&D sector of autonomous vehicle to gain large pie of the market. The automotive hypervisor developing companies are adopting several strategies to thrive in the competitive environment.
For instance, in May 2019, Siemens AG introduced a “PAVE360” validation program to accelerate autonomous vehicle development. It is an alliance of multi-suppliers of automotive industry for the growth of next-generation automotive chips. Moreover, in Oct 2018, BlackBerry Limited announced a partnership with Renesas Electronics Corporation for providing integrated virtualization and secure development environment for Renesas R-Car system-on-chip (SoC) devices.
Browse the full report at https://www.credenceresearch.com/report/automotive-hypervisor-market
The Global Automotive Hypervisor Market is Segmented into:
|Segmentation||By Product Type Segment (2017-2027; US$ Bn)|
|By Vehicle Type Segment (2017-2027; US$ Bn)|
|By Geography Segment (2017-2027; US$ Bn)|
*Complete segmentation list is on report page