IMARC Group’s latest research report, titled “Automotive Software Market Growth: Global Industry Trends, Size, 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 refers to embedded software or firmware that is generally a set of instructions related to automotive industry-specific products or services. Using features, such as sensor fusion, automotive haptics, advanced driver assistance systems (ADAS), and communication, it assists the user in interacting with underlying in-vehicle hardware and performing control functions in a vehicle.
Automotive software integration in cars allows for more intricate processes while improving dashboard displays and ensuring the operator’s safety. In addition to this, the software functions without raising additional costs and determines the proper operation of controls, protection, and computerized systems, hence enabling motor vehicles to run smoothly.
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)
Due to the repercussions of the COVID-19 outbreak, the automotive industry is facing hard-hit challenges and uncertainty. The raging pandemic has led to shutdowns of globally integrated supply chains in the automotive industry, placing intense stress on the industry with a sharp downfall in global demand.
With falling market demand in view, automotive companies are employing new strategies and operating plans for the post-pandemic period, including focusing on tech-integrated automobile systems. As economies are recovering slowly, the market is expected to expand positively in the coming years.
Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by product, vehicle type and application.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Automotive Software Market
- Strategies of major players and product offerings
Global Market Trends:
The global automotive software market is primarily driven by the rapid employment of open-source platforms in creating user-experience-focused product offerings. With the increasing focus on automobile infotainment systems, manufacturers are getting competitive in providing the best software or operating system for their vehicles, which is driving the market growth significantly.
Furthermore, increasing deployments of innovative software systems emphasizing unique vehicle model capabilities, coupled with the increasing influx of emerging advanced technologies and shifting preference towards a futuristic driving experience, are also positively impacting the market growth.
Other factors, such as the increasing use of connectivity services for real-time data transfer and communications, the growing implementation of the internet of things (IoT) and artificial intelligence (AI), and stringent regulations promoting vehicle safety and fuel efficiency, are further providing an impetus to the market growth.
Key Market Segmentation:
Breakup by Product:
- Application Software
- Operating System
Breakup by Vehicle Type:
- ICE Passenger Vehicle
- Light Commercial Vehicle
- 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
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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