The global automotive hypervisor market is anticipated to generate a revenue of USD 698.2 million by 2025 and growing at a CAGR of 33.2% over the forecast period, from 2019 to 2025, according to Million Insights. The market is majorly driven by growing demand for advanced features in vehicles. In addition, rising demand for advanced feature in vehicles has created intense competition among auto manufacturers. This has leads to high investment in R&D activities. The automotive hypervisor offers enhancement in several features such as Advanced Driver Assistance System (ADAS), telematics, and benefits like security, communication, connectivity, and infotainment in vehicles.
The automotive hypervisors market is expected to gain traction due to innovation and advancement in virtualization technology. Hypervisor allows real-time communication between vehicle-to-environment and vehicle-to-vehicle. Increased usage of various network interfaces and ECUs has led to complexity in vehicle’s systems. A hypervisor helps to improve communication between electronic systems and maintains network functionality.
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Integration of hypervisor technology in vehicles raises the production cost, thereby this technology is majorly featured in luxury vehicles. Hence, the luxury vehicle segment is projected to lead the market during the forecast period. The poor network connectivity can delay the information transfer about routes, obstacles, and traffic jams due to ADAS failure. Therefore, hypervisor shares information in real-time and reduces the chances of accidents.
To develop advanced features in hypervisors, industry players are collaborating with each other. Such initiatives are expected to strengthen position in the market and enhance embedded system safety and security.
In 2018, Asia Pacific dominated the market in terms of revenue and projected to emerge as the fastest-growing region. Due to low maintenance and labor costs. Manufacturers are establishing their production plants in this region.
Lack of standards associated with automotive virtualization is a major challenge for market growth. Market players are following ISO 26262 regulations, a functional safety standard that regulates electrical and electronic systems from development to decommissioning. The increasing incidence of cyberattacks across the globe has become another major challenge for market growth. However, Europe and North America introduced cybersecurity standards which should be followed by automobile manufacturers while manufacturing vehicles.
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Further key findings from the report suggest:
• Type 2 segment is projected to grow with the highest CAGR during the forecast period as this type of hypervisors enables several virtual machines to run simultaneously using multiple operating systems.
• Among vehicle types, passenger car is expected to grow with significant growth rate due to increasing concern about security and safety of passenger cars.
• Government favourable initiatives in emerging countries to increase sales of electric vehicles are projected to open new growth opportunities for industry players.
• The growing production of autonomous cars with infotainment and entertainment systems is expected to open new avenues for automotive hypervisor market growth.
• Sasken Technologies Ltd.; Mentor Graphics Corporation; Renesas Electronics Corporation; NXP Semiconductor N.V.; Wind River Systems, Inc.; Green Hills Software LLC; and Continental AG are key players operating in this market.
Million Insights has segmented the global automotive hypervisor market on the basis of product type, vehicle type, mode of operation, end user, and region:
Automotive Hypervisor Product Type Outlook (Revenue, USD Million, 2014 - 2025)
• Type 1
• Type 2
Automotive Hypervisor Vehicle Type Segment Outlook (Revenue, USD Million, 2014 - 2025)
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
Automotive Hypervisor Mode of Operation Outlook (Revenue, USD Million, 2014 - 2025)
• Autonomous Vehicle
• Semi-autonomous Vehicle
Automotive Hypervisor End User Outlook (Revenue, USD Million, 2014 - 2025)
Automotive Hypervisor Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• South America
• Middle East & Africa
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