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Automotive Software Market Global Production, Growth, Share, Demand and Forecast to 2025
Automotive Software Market
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The Auto Part wholesaler & agent grabs over 18% market share in the automotive software market in 2018 and is expected to maintain a dominant position during the forecast period. The growing demand for cheap auto parts related to hardware & software is proliferating this segment. The automobile industry strategically distributes its software & hardware through various distribution channels, including auto part wholesalers and agents, to increase its global presence. Additionally, the rising trend of customization of vehicles is attributing to the growth of this segment in the automotive software market.
The anti-lock braking system will witness a significant growth rate of more than 14% in the automotive software market from 2019 to 2025. The anti-lock braking system helps vehicles from sudden skidding and consequent road mishaps. According to the National Highway Traffic Safety Administration (NHTSA), ABS-equipped vehicles stop at an increased stopping distance on loose gravel by an average of 27.2% as compared to other vehicles. ABS has significantly reduced the risks of run-off road crashes and multiple vehicle crashes
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• ANSYS
• Autodesk
• Bosch Software Innovations
• CDK Global
• DealerTrack Holdings
• Delphi Technologies
• Ford Motor
• SAP SE
Asia Pacific is estimated to be the fastest growing region in the automotive software market growing at a CAGR of more than 17% over the forecast period. Stringent government regulations related to environmental safety are impacting OEMs in the region to build fuel-efficient and low-carbon emission vehicles with the help of automotive software and electronic components. Highly-populated countries in this region, such as China and India, are facing traffic congestion and mishaps, impacting the growth of this software to provide predictive navigation, traffic details, and object recognition to avoid crashes or collisions. The emerging smart cities in this region are expected to drive the automotive software market.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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