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Automotive Software Market: What are the Future Growth Opportunities? Top Players: ANSYS, Inc, Autodesk, Inc., Bosch Software Innovations, CDK Global (International), Daimler AG, Genesys, Honda Motor Company, Ltd., NVIDIA, Oracle Corporation, SAP SE, Sie
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The autonomous driving software market is projected to record an enhanced growth over 2019-2025 at a CAGR of around 17%. The growth is credited to R&D activities and investments by companies such as Wipro, NVIDIA, and Bosch Software. Moreover, these companies are also taking efforts to expand and merge with other companies to design and develop autonomous vehicles.
The mobility service application segment is projected to show a lucrative growth at 19% CAGR over 2019-2025. The growing adoption of Mobility-as-a-Service (MaaS) is anticipated to significantly impact the growth of mobility service application market. For instance, in October 2018, a self-driving unit of General Motors, Cruise Automation, had collaborated with Honda to pursue the common goal of transforming mobility by the large-scale employment of autonomous vehicle technology.
The passenger vehicles segment is anticipated to gather a promising growth rate in the automotive software market. This segment has a huge application for automotive software in comparison with commercial vehicles. Passenger vehicles with several in-vehicle electronics systems, such as powertrain, start-stop systems, and power steering, consist of numerous ECUs which require software programs to operate.
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The inclination toward integrating smart technologies in passenger vehicles has led to increasing the number of ECUs in vehicles and a growing number of in-vehicle electronics systems. This will substantially expanding the opportunities for players to integrate automotive software in the passenger vehicles segment.
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