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The autonomous driving software segment in the automotive software market is projected to register an accelerated growth during the forecast timeline growing at a CAGR of around 17%. The growth is attributed to investments and R&D activities done by companies such as Bosch Software, Wipro, and NVIDIA. In addition, these companies are also taking efforts to expand and emerge with other companies to design & develop autonomous vehicles.The mobility service segment in automotive software market is anticipated to exhibit a lucrative growth at a CAGR of over 19% between 2019 and 2025. The increasing adoption of Mobility-as-a-Service (MaaS) is expected to influence the mobility service application market significantly. In addition, companies such as General Motors, Ford, and Delphi are taking their leap into this market by making huge investments to develop fully-automated cars, which may further explain the growth of this segment.
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The passenger vehicles segment shows a promising growth rate in the automotive software market during the forecast period. This segment has a wide area of application for automotive software as compared to commercial vehicles. Passenger vehicles with various in-vehicle electronics systems, such as power steering, powertrain, and start-stop systems, contain numerous ECUs that need software programs to work. The trend of integrating smart technologies in passenger vehicles is increasing the number of in-vehicle electronics systems, increasing the number of ECUs, expanding the opportunities for automotive software in the passenger vehicles segment.
The manufacturer retail store segment in the automotive software market shows the highest growth rate during the forecast period. This segment is influenced by the increasing consumer expectations and dealership franchise dynamics. In addition, the increasing vehicle pricing transparency and consumers, who are equipped to make product comparisons easily are affecting the profit margins of dealers significantly. Therefore, offering the range of automotive software solutions in terms of customization may cure the decreasing profit margins of automotive dealers up to a certain level.
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The Asia Pacific automotive software market is expected to register the highest growth with a CAGR of around 18% between 2019 and 2025. This growth can be attributed to the presence of emerging countries (such as China and India), leading manufacturers, and significantly large consumption markets in the region. In addition, the infrastructural development and growing industrialization in emerging economies are creating opportunities for automotive OEMs.
The companies operating in the global automotive software market are focusing on technology innovations, strategic acquisitions, and mergers to strengthen their market position and acquire new customers. For instance, in January 2018, Bosch acquired a 5% indirect ownership stake from HERE Technologies, a global provider of digital mapping & location services. The acquisition is expected to help Bosch in becoming a global provider of data-based real-time location services to customers both inside and outside the automotive industry.
Browse key industry insights spread across 270 pages with 298 market data tables & 31 figures & charts from the report, “Automotive Software Market Size By Software (Autonomous Driving Software, Safety & Security Software, Vehicle Management Software, Infotainment Software), By Application (Engine Management System (EMS), Anti-Lock Braking System (ABS), Airbag Control, Car Navigation System, Music 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), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Sweden, China, Japan, India, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, UAE, Saudi Arabia, Qatar, Oman), Growth Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-software-market
Table of Contents (ToC) of the report:
Chapter 6. Automotive Software Market, By Application
6.1. Key trends, by application
6.2. Engine Management System (EMS)
6.2.1. Engine management system market estimates and forecast, 2014-2025
6.3. Anti-locking braking system (ABS)
6.3.1. Anti-locking braking system (ABS) market estimates and forecast, 2014-2025
6.4. Airbag Control
6.4.1. Airbag control market estimates and forecast, 2014-2025
6.5. Car Navigation System
6.5.1. Car navigation system market estimates and forecast, 2014-2025
6.6. Infotainment System
6.6.1. Infotainment system market estimates and forecast, 2014-2025
6.7. Mobility Service
6.7.1. Mobility service market estimates and forecast, 2014-2025
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/automotive-software-market
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