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Global Automotive Software Market to Reach $40.1 Billion by 2027 at a CAGR of 13.1%
Global Automotive Software Market
Dublin, July 27, 2022 (GLOBE NEWSWIRE) -- The "Automotive Software Market by Application (ADAS & Safety, Connected Services, Autonomous Driving, HMI, V2X, Infotainment), Software Layer (OS, Middleware, Application), EV Application (Charging, Battery, V2G), Vehicle and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global automotive software market size is projected to grow from USD 21.7 billion in 2022 to USD 40.1 billion by 2027, at a CAGR of 13.1%. ADAS & safety systems segment has the largest market share among all the applications in the automotive software market.
Government mandates and increasing awareness about vehicle safety are expected to fuel the growth of ADAS & safety systems across the globe. Implementation of regulations regarding the safety of vehicles, such as UN Regulation on Advanced Emergency Braking Systems (AEBS) for cars, to significantly improve road safety.
Intervention of innovative technologies for advanced UI is likely to drive the growth of the automotive software market during the forecast period
Earlier, the focus of the industry was on optimizing the internal functioning of vehicles, but now the trend is shifting toward better and enhanced connectivity solutions. Automotive software allows for optimizing vehicle performance along with better connectivity solutions. This increasing demand for high-end connectivity is driving the intervention of agile and innovative technologies for software.
The automotive industry is experiencing a change in the automobile buying and ownership behavior of consumers. These consumers are getting highly involved in digital solutions through smartphones, which are further changing lifestyles and increasing the comfort and convenience of vehicles. Hence, various software is required to achieve a high level of UI with machines. Technologies such as HMI and GRS are boosting the market for automotive software.
India is estimated to be fastest-growing automotive software market in Asia Pacific during the forecast period
The automotive software market in India is in a growing stage. Integrated connectivity is expected to be the major driver for the automotive software market in India. The launch of 4G connectivity and over 100 smart cities initiative that includes smart transportation are the major factors supporting the automotive software market growth in the country.
Various technologies such as telematics systems, connected services, infotainment systems, and communication systems are becoming an integral part of high-end automobiles. Additionally, with improved infrastructure and connectivity solutions, India is providing platforms for vehicle interaction, thereby supporting the sharing of useful information such as fuel economy, roadblocks, shortest routes, traffic congestion, and driving habits.
Growing disposable will allow Indian customers to spend more on luxury and comfort. Software for engine and powertrain management covers the second-largest share in the Indian market. The need for high-tech powertrains has greatly increased to meet the stringent emission norms.
The growing trend of downsizing engines and the rising demand for automated transmission are some of the key factors driving the demand for powertrain systems.
Market Dynamics
Drivers
Adoption of ADAS Features in Vehicles
Increasing Adoption of Connected Car Services
Intervention of Innovative Technologies for Advanced UI
Restraints
Lack of Standard Protocols to Develop Software Platforms
Lack of Connected Infrastructure
Troubleshooting and Maintenance of Automotive Software
Opportunities
Future Potential of 5G and AI
Growing Developments in Semi-Autonomous and Autonomous Vehicles
Data Monetization in Extended Automotive Ecosystem
SOTA Updates to Reduce Vehicle Recalls
Challenges
Risk of Cybersecurity
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 COVID-19 Impact
8 Automotive Software Market, by Autonomous Car
9 Automotive Software Market, by Application
10 Automotive Software Market, by Software Layer
11 Automotive Software Market, by Vehicle Type
12 Automotive Software Market, by Ev Application
13 Automotive Software Market, by Region
14 Analyst's Recommendations
15 Competitive Landscape
16 Company Profiles
17 Appendix
Companies Mentioned
Aimotive
Airbiquity
Apple
Aptiv plc
Autonet Mobile
Blackberry
Elektrobit
Google
Green Hills Software
Intel Corporation
Kpit Technologies
Luxoft
Microsoft Corporation
Nvidia
Nxp Semiconductor
Panasonic
Renesas Electronics
Rightware
Robert Bosch GmbH
Saferide Technologies Ltd
Siemens Industry Software Inc.
Sigma Software Group
Vector Informatik
Wind River System
For more information about this report visit https://www.researchandmarkets.com/r/mua1mx
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