The global automotive software market size is projected to expand at 20% CAGR from 2020 to 2030. MRFR’s report on the automotive software market comprises growth drivers, challenges, and trends on the industry for the forecast period (2022-2030). The COVID-19 pandemic and its implications are explored in depth in the market.
Automotive Software Market Scope
The global automotive software market is driven by
improvement in four-wheelers and integration of information technology to
enhance their features. Rise in sales of automobiles, adoption of driver
assistance safety system, and demand for fuel-efficient vehicles. The use of
software and its continuous improvement through feedback can lead to efficient
systems.
Adoption of software solutions and services in the
automotive sector, rise in purchasing power of customers in APAC and the Middle
East, and the growing population can drive market demand significantly. Focus
on development of automotive infotainment systems and declining prices of
software can bode well for the market.
Automotive Software Market Competitive
Analysis
- NXP
Semiconductors (Netherlands)
- BlackBerry
(Canada)
- Renesas
Electronics Corporation (Japan)
- Elektrobit
(Germany)
- NVIDIA
Corporation (US)
- Microsoft
Corporation (US)
- Airbiquity
Inc. (US)
- Green
Hills Software (US)
- Autonet
Mobile Inc. (USA)
- Wind
River Systems
Connected services can allow car owners, fleet
owners, and carriers to communicate through a common platform. Presence of
Alibaba and Baidu coupled with a platform for connected cars can bode well for
the market. Rising support for 5G and development of infrastructure to support
connected vehicles in the APAC region coupled with measures to curb rising
pollution levels can augur favorably for the market. Smart mobility projects
and stringent emission norms can lead to demand of software for powertrain,
infotainment, and other vehicle technologies.
But lack of standard protocols for development of
automotive software may hamper market growth.
Automotive Software Market COVID-19 Impact
Players in the automotive industry are likely to
invest in various digital technologies such as cloud, IoT, and AI to leverage
on large volume of data generated and its potential in delivering customer
experience. Automotive players are teaming with software developers for
creating compatible solutions with associated hardware for ensuring customer
excellence. Implementation of digital models for driving sales of cars is an
instance of the potential of leaders offering software and solutions to auto makers.
Automotive Software Market Regional
Analysis
APAC to Lead in Global Automotive Software
Market Share
Asia-Pacific (APAC) is expected to take the lead
in the global automotive software market owing
to rise of automotive hubs in developing economies and increasing sales of
connected vehicles. Rising production of electric vehicles, integration of
safety features in EVs, and investments by public and private players for
developing ICT infrastructure can drive market demand significantly.
Automotive Software Market Industry News
Qualcomm has signed an agreement with Renault for
supplying semiconductors for powering the digital dashboard and vehicle
infotainment system.
Automotive Software Market Segmentation
By Solution
- Autopilot
Software
- Navigation
Software
- Entertainment
Software
- Car
Safety Software
By System
- ADAS
& Safety
- Body
Control & Comfort
- Powertrain
- Infotainment
- Communication
- Telematics
Read more:
Light Commercial Vehicles Market
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