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Automotive Hypervisor Market Size Worth $698.2 Million by 2025: Grand View Research, Inc.
The market is expected to gain momentum owing to advancements and innovation in virtualization technology. Hypervisor technology facilitates real-time communication between vehicle-to-vehicle & vehicle-to-environment. The use of increased number of ECUs and different network interface is leading to complexities in vehicle functionality. The use of gateways and electronic devices enable reliable and secure communication between a vehicle's electronic systems. A hypervisor maintains network functionality and offers improved communication for the same.
The use of hypervisor technology in vehicles increases the cost of production and hence, the technology is primarily featured in luxury vehicles. This is expected to drive the growth of the luxury vehicles segment over the forecast period.The unavailability of a strong data network leads to delay in information transfer and ADAS failure. ADAS failure further creates a delay in sharing information related to route, traffic jam, and obstacles. The hypervisor technology is used to share information in real time and hence, helps reduce accidents.
The major players in the market are collaborating with each other to improve the automotive hypervisor technology. For instance, in February 2019 , Green Hills Software LLC announced a strategic partnership with Cadence Design Systems, Inc. This initiative was undertaken to leverage their individual strengths for enhancing embedded system security and safety while hastening growth for both companies.
Asia Pacific region dominated the automotive hypervisor technology market in terms of revenue in 2018 and is expected to grow at the highest CAGR over the forecast period. Original Equipment Manufacturers (OEMs) are setting up production plants in the countries of this region owing to low labor and maintenance costs. This is expected to drive the growth of the Asia Pacific market.
One of the challenges faced by the market is the lack of standards related to automotive virtualization. Currently, the only regulation to be followed by the market players is ISO 26262, a functional safety standard that regulates electronic and electrical systems throughout the product development lifecycle, from development to decommissioning. The lack of cybersecurity standards across the globe is leading to issues related to hacking. National Institute of Standards and Technology's Cybersecurity Framework (U.S.),EU's Regulation against Geo-IP-based blocking of EU member countries or economies (EU), and others have introduced cybersecurity standards.These standards are to be mandatorily followed by the automobile providers while manufacturing autonomous vehicles.
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
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