Automotive Software Market Overview:
The global automotive software
market size will develop at a healthy 20% CAGR between
the forecast period 2023- 2032, 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
share. 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, 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.
Get Free Sample Report of Automotive Software Market
Key Players
Key contenders profiled in the global automotive software market 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).
Automotive Software 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.
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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