-- Automotive software market finds plenty of applications in in-vehicle electronics system. Passenger vehicles contain more amount of electronic systems as compared to other vehicles. Passenger vehicles are equipped with various types of ECUs for the in-vehicle systems such as powertrain, safety, power steering, and start-stop system. The more the number of ECUs, the more amount of programming need for performing operation properly.
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Report covers automotive software market, by value, on the basis of region (Asia Pacific, Europe, North America, & Rest of the World), by application (ADAS & safety systems, body control & comfort systems, communication systems, infotainment systems, power train systems, and telematics systems), by vehicle type (passenger vehicles, light commercial vehicles, and heavy commercial vehicles), by electric vehicle type (BEV, HEV, and PHEV).
The global automotive software market is projected to grow at a CAGR of 18.12% during the forecast period, from USD 18.7 billion in 2018 to USD 60.0 billion by 2025. The growing number of connected cars and electronic content per vehicle and reinforcement of mandates by regulatory bodies for vehicle safety and comfort are driving the automotive software market.
The industry experts have left no stone upturned to identify the major factors influencing the development rate of the Automotive Software industry including various opportunities and gaps. A thorough analysis of the micro markets with regards to the growth trends in each category makes the overall study interesting. When studying the micro markets the researchers also dig deep into their future prospect and contribution to the Automotive Software industry.
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The communication systems segment of the automotive software market is projected to grow at the highest CAGR during the forecast period. Vehicle electronics functions are increasing every day. For better operations, they are communicated with high-performance protocols such as LIN, CAN, FlexRay, MOST and Ethernet. Increasing number of ECUs and electronically operated systems are likely to drive the market for communication systems.
The break-up of the primaries is as follows:
By Company Type: Tier I:42%, Tier II:26%, Tier III:32%
By Designation: C level:25%,D level:30%,Others:45%
By Region:Asia Pacific:45%, Middle East & Africa: 25%, North America:15%, Europe:10%, RoW: 5%
The key players in the automotive software market are NXP (Netherlands), BlackBerry (Canada), Renesas (Japan), Elektrobit (Germany), NVIDIA (US), Microsoft (US), Airbiquity (US), Green Hills Software (US), and Wind River (US). Ansys is expected to be a dominant player in the automotive software market.
Europe is estimated to grow at the highest CAGR in the automotive software market during the forecast period. The increasing number of connected vehicles and a growing awareness of green vehicles among people are expected to fuel the growth of the automotive software market in Europe.Moreover, countries in Europe have taken an aggressive stance on testing self-driving vehicles as well as making their EVs more intelligent. Owing to this, the automotive software market is expected to gain more popularity in the region.
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This report contains various levels of industry analysis and company profiles, which highlight the emerging and high-growth segments of this market, competitive mapping, and market dynamics (drivers, restraints, opportunities, and challenges).
The report provides insights into the following points:
Market Penetration: The report offers comprehensive information about the automotive software market and the top players in the market.
Product Development/Innovation: The report provides detailed insights into the upcoming technologies, R&D activities, and new product launches in the automotive software market.
Market Development: The report offers comprehensive information about the automotive software market. The report analyzes the automotive software market across regions and provides comprehensive information about lucrative emerging markets.
Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive software market.
Light commercial vehicles (LCVs) include several types of SUVs and pickup trucks. Recently, these vehicles are being installed with modern technologies such as fleet management system, GPS, and infotainment system which are handled by modern software. These vehicles find major applications in North America. So, increasing sales of LCVs and use of modern electronics are driving the automotive software market for communication systems.
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