Automotive Software Market Analysis
Automotive Software Market Size To Expand at a Notable CAGR Of 20% During forecast period.
The Global Automotive Software Market as per the new Market Research Future (MRFR) analysis. Automotive software, simply put, is a collected programmable data instruction utilized to perform operations of computer-based in-vehicle applications.
Various factors are fuelling the global Automotive Software Market. According to the recent MRFR market estimates, such factors include rising adoption of ADAS features in cars, growing adoption of connected car services, the intervention of innovative technologies for advanced UI, compliance towards fuel efficiency standards, adoption of electronics-based driving comfort, government safety mandates, growing demand for passenger safety, stringent government regulations associated with vehicle safety, the collaboration of government authorities with automotive software developers, rising internet penetration, and rapid adoption of IoT. Besides, the potential of 5G and artificial intelligence, data monetization, vehicle software development, digital vehicle inspection, and growing developments in autonomous and semi-autonomous driving cars are also adding market growth.
On the contrary, lack of connected infrastructure, lack of standard protocols to develop software platforms, cybersecurity threats, consolidation of ECUs, troubleshooting and maintenance of Automotive Software Market, lack of connected infrastructure, and the ongoing COVID-19 outbreak are factors that may deter the global automotive software development market growth over the forecast period.
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Key Players
Key contenders profiled in the global Global Automotive Software Industry report include Wind River Systems, Inc. (US), Autonet Mobile, Inc. (USA), Green Hills Software (US), Airbiquity Inc. (US), Microsoft Corporation (US), NVIDIA Corporation (US), Elektrobit (Germany), Renesas Electronics Corporation (Japan), BlackBerry (Canada), and NXP Semiconductors (Netherlands).
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global Automotive Software Market based on propulsion, vehicle type, system, and solutions.
By system, the global Automotive Software Market is segmented into telematics system, communication system, infotainment systems, powertrain systems, body control and comfort systems, and ADAS and safety systems. Of these, the ADAS and safety systems will lead the market over the forecast period.
By vehicle type, the global automotive software market is segmented into commercial vehicle and passenger car. Of these, the passenger car segment will dominate the market over the forecast period.
By solution, the global automotive software market is segmented into car safety software, entertainment software, navigation software, and autopilot software.
By propulsion, the global automotive software market is segmented into electric vehicle and ICE vehicle. Of these, the electric vehicle will spearhead the market over the forecast period.
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Regional Analysis
By region, the global Automotive Software Market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will dominate the market over the forecast period. Growing automotive infrastructure, rising sales of connected vehicles, increased sales and production of electric cars, demand for safety features in cars, increasing investments by private and public players to develop ICT infrastructure, increased demand for connected devices in South Korea, Japan, and China, presence of tech-savvy population, demand for the connected and safe driving experience, ongoing projects, and strong government initiatives are adding to the global automotive software market growth in the region.
In Europe, the global automotive software market is predicted to have the second-largest share over the forecast period. Huge growth prospects for automobiles having advanced driver assistance systems, and the presence of established ICT infrastructure are adding to the global Automotive Software Market growth in the region.
In North America, the global automotive software market is predicted to have healthy growth over the forecast period. The presence of key players including technology giants and automakers, growing vehicle production, rise in connected cars, changing in-vehicle electronics architecture, expansion of leading OEMS, C-V2X technology developments, favorable regulatory framework for self-driving cars, and development of best practices are adding to the global automotive software market growth in the region. The United States possess the utmost share in the market.
In the Rest of the World, the global automotive software market is predicted to have sound growth over the forecast period.
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