The global automotive hypervisor market is projected to experience significant growth, with an estimated revenue of USD 218.1 million in 2023. According to predictions, the market is expected to reach USD 1,168.3 million by 2030, exhibiting a compound annual growth rate (CAGR) of 27.2% from 2024 to 2030.
This growth of the market can be credited to the increasing need for connected and autonomous vehicles, the growing pace of improvement in EVs, rising awareness of passenger and car protection, and growing user interfaces and infotainment systems.
The count of road accidents is growing, and as per the WHO, over one million individuals die worldwide because of a car accident every year. The main reason for road accidents is human error. Other reasons that are accountable for such accidents are machine or parts failure, like the failure of brakes or breakage of axles. In order to confront worries about road protection, governments in a count of nations are tightening guidelines.
On the basis of the level of automation, the semi-autonomous category is projected to grip the larger industry share during the projection period. This is mainly due to consumers progressively turning into interested in cars with enhanced driver-assistance features and looking for a balance between convenience, safety, and the driving experience. Furthermore, the increasing IT and telecommunications infrastructure, advancing living standards, and increasing count of upper-class individuals are propelling the development of this category.
Luxury vehicles are expected to dominate the market share in the upcoming years, primarily driven by increased investments from automobile manufacturers aimed at improving the interior systems of vehicles. Luxury cars boast an array of advanced features, including touchscreen infotainment systems, high-resolution displays, and extensive connectivity options.
Furthermore, these vehicles are equipped with powerful engines and advanced suspension systems, requiring sophisticated software management. The implementation of hypervisor technology plays a crucial role in optimizing the coordination among various systems within luxury cars, ultimately ensuring optimal performance.
In 2023, the APAC region grips the largest share, 55%, and it is estimated to advance at the highest CAGR. The increasing disposable income in developing nations, like India and China, has improved the buying power of clientele, which is projected to increase the sale of passenger vehicles. In addition to this, the APAC region is the hub of a few of the world’s major automotive makers and component suppliers. This industrial strength permits the rapid acceptance of new techs in many vehicle models and brands.
The market for automotive hypervisors is propelled by the rising demand for advanced driver assistance systems and premium car infotainment systems.
