Report ID: 10324862 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Automotive Software Market is valued approximately USD 14.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 16.9% over the forecast period 2020-2027. Automotive software is a set of directions that helps the user to interact with core in-vehicle hardware and also execute control functions in a vehicle. It mainly emphasized on the rising trend towards automotive haptics, sensor fusion, and the implementation of the on-board vehicle monitoring system. This software is mainly designed to support and enhance the experience of utilizing a motor vehicle. This software can also involve in connecting devices, such as smartphone or on-call safety programs, to minimize the vehicle overlap. Further, the emergence of IoT and smart & connected vehicles, automotive software have observed increased demand significantly around the world, due to the rising need of an interactive solution among the sensors surrounded on the vehicles and users of these vehicles. These factors are anticipated to drive the market growth during the forecast period. Further, rising production & demand of electric vehicle and passenger car, growing adoption of ADAS (advanced driver-assistance systems) feature in vehicle, and escalating demand for connected vehicles due to the advent of IoT are the few factors responsible for the high CAGR of the market growth during the forecast period. According to the Edison Electric Institute (EEI), the global electric vehicle (EV) sales were estimated at around 312,000 units in Q1 2018, an increase of 58% as compared to Q1 2017 which holds almost 197,000 units. Similarly, as per the Bloomberg New Energy Finance (BNEF) report 2019, the global electric vehicle sale is expected to reach almost 54 million by the year 2040. This, in turn, will promote the demand for automotive software all over the world. The advent of COVID-19 pandemic has a swift and severe impact on every single sector of global industry including automotive industry thus, representing a substantial decline in the production of passenger cars and commercial vehicles. With the reduced production of vehicles, the demand for automotive software significantly decline, which may act as a major roadblock for the market growth in the recent years. However, the lack of standard protocol to develop software platform is one of the major factors impedes the market growth during the forecast period of 2020-2027.
The regional analysis of global Automotive Software market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the rising production of passenger & commercial, increasing penetration of connected cars and electric vehicles, and rapidly changing in-vehicle electronics architecture in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Ansys Inc.
Autodesk, Inc.
Bosch Software Innovations GmbH
CDK Global LLC
Cox Automotive
Daimler AG
Dassault Systems SE
DealerTrack Holdings, Inc.
Delphi Technologies
Ford Motor Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Autonomous driving software
Safety & security software
Vehicle management software
Infotainment software
By Application:
Engine Management System (EMS)
Anti-locking braking system (ABS)
Airbag Control
Car Navigation System
Infotainment System
Mobility Service
By Vehicle Type:
Passenger vehicle
Commercial vehicle
By End-Use:
Manufacturer retail store
Automotive dealer
Automotive repair store
Auto part wholesaler & agent
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Automotive Software Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Report ID: 10324862 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
