According to IMARC Group’s latest research report, titled “Automotive Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. The global automotive software market size reached a value of US$ 14.27 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 41.76 Billion by 2027 exhibiting a CAGR of 18.50% during 2022-2027.
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Automotive software is software used for performing operations of computer-based in-vehicle applications. It is a collected programmable data instruction used for in-vehicle embedded systems. It helps end-users by providing better-automated solutions without human interference and delivers a better driving experience. It is further used to improve the dashboard display and ensure the safety of the operator and the passengers.
Key Players Included in Global Automotive Software Market Research Report:
- Airbiquity Inc.
- Autonet Mobile Inc.
- BlackBerry Limited
- Google LLC
- Green Hills Software
- KPIT Technologies Limited
- Microsoft Corporation
- MontaVista Software LLC
- NVIDIA Corporation
- NXP Semiconductors N.V.
- Robert Bosch GmbH a
- Wind River Systems Inc. (Intel Corporation)
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Global Market Trends:
The global market is majorly driven by the rising compliance with fuel efficiency standards. In line with this, the increasing need for reducing vehicle downtime is positively influencing the market. Furthermore, the growing number of connected cars has opened new revenue-generating opportunities for the stakeholders in the connected car ecosystem. Apart from this, different telecom companies are focusing on developing 5G to increase the safety and efficiency of automotive software. Moreover, the intervention of innovative technologies for advanced UI is likely to significantly contribute to the growth of the automotive software market. Besides this, the shifting focus of multiple companies toward better and enhanced connectivity solutions is facilitating the demand for high-end connectivity, thus driving the intervention of agile and innovative technologies for software. Additionally, the launch of 4G connectivity and smart cities initiative that includes smart transportation are other major growth-inducing factors.
Key Market Segmentation:
Breakup by Product:
- Application Software
- Operating System
Breakup by Vehicle Type:
- ICE Passenger Vehicle
- ICE Light Commercial Vehicle
- ICE Heavy Commercial Vehicle
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Autonomous Vehicles
Breakup by Application:
- Safety and Security
- Infotainment and Instrument Cluster
- Vehicle Connectivity
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Automotive Software Market Research Report:
- Scope and Methodology
- Executive Summary
- Global Automotive Software Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
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