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Automotive Software Market 2021 Growth Opportunity and Industry Revenue Analysis By Major Players 2026 |NXP Semiconductors N.V., Renesas Electronics Corporation, BlackBerry Limited, Robert Bosch GmbH, Airbiquity, Inc., NVIDIA Corporation, PTC, Inc., and A

08-05-2021 06:30 AM CET | IT, New Media & Software

Press release from: Adroit Market Research

Automotive software Market

Automotive software Market

The global automotive software market size is likely to attain over USD 14.9 billion by the year 2028. Besides, it is likely to project a CAGR of nearly 16.3% during the forecast years 2021-2028. The automotive software leverages machine learning and artificial intelligence to automate the processes. Automotive software is a guideline or collected programmable data instruction. This set of data is primarily applied to assist computer-based operations in vehicles. Automotive software also includes the software and advanced systems used for the in-vehicle embedded systems.

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The market is gaining momentum with the increasing application of automotive software in digitized vehicular systems. Increasing applications of automotive software across telematics, infotainment, powertrain, communication, along with body control and comfort, and advanced driver assistance systems (ADAS) is the primary factor driving the growth of the global automotive market. The automotive industry is constantly indulging in advanced technologies and walking towards a new era of next-generation cars.

Future cars will be more interactive and experience new interfaces and simulation technologies. Despite the promising growth and modernization of the automotive industry, manufacturers are facing a much larger challenge with incorporating these advanced software solutions that have the potential for greater performance and convenience.

Some of the major factors augmenting the growth of the global automotive software market include increasing integration trends of ADAS features in vehicles along with a growth in the adoption of connected car services and mediating innovative technologies within advanced UI.

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The market is scaling up with the strengthening role of AI in enhancing the automotive landscape.

The automotive software market addresses some impactful challenges, such as the lack of standard protocols that are paramount in developing software platforms along with the deprived connected infrastructure. The market suffers from inefficient troubleshooting and maintenance of the automotive software platform, which significantly restricts the appeal of these advanced solutions.

Nonetheless, the automotive software market receives significant opportunities with increasing penetration of 5G and AI coupled with constant developments in the semi-autonomous as well as autonomous vehicles and lastly, data monetization expanding the automotive ecosystem are some of the factors anticipating lucrative growth for the automotive software market in the coming future.

The global automotive software market offers solutions including operating systems, middleware, and application software solutions. This range of solutions is also classified based on the type of vehicle manufacturers. This consists of ICE passenger car, ICE LVC, and HCV that is Light Commercial Vehicle and Heavy Commercial Vehicle respectively. Automotive software solutions are also applied for battery electric vehicles, hybrid electric and plug-in hybrid electric vehicles, and autonomous vehicles.

Semi-autonomous and autonomous vehicles are heavily reliant on software for functional aspects. Adding to this, increasing efforts of globally spread industries to deploy AI-enabled features is boosting the growth of the global automotive market growth.

Leading vehicle manufacturers have already adopted Level 1 and Level 2 autonomous technology with few models integrated with Level 3 autonomous features. Meanwhile, many of the leading OEM automotive companies are now exploring the capabilities and possibilities of Level 4 and Level 5 autonomous vehicles.

The major players of the global automotive software market are NXP Semiconductors N.V., Renesas Electronics Corporation, BlackBerry Limited, Robert Bosch GmbH, Airbiquity, Inc., NVIDIA Corporation, PTC, Inc., and Adobe, Inc. Renowned companies are offering new and modern automotive software software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.

Segment Overview of Global Automotive Software Market

Product Overview, 2019-2028 (USD Million)

Application Software

Middleware

Operating System

Application Overview, 2019-2028 (USD Million)

Advanced Driver Assistance Systems (ADAS) & Safety Systems

Infotainment & Telematics

Communication Systems

Body Control & Comfort Systems

Powertrain Systems

Vehicle Type Overview, 2019-2028 (USD Million)

ICE Passenger Car

ICE Light Commercial Vehicle

ICE Heavy Commercial Vehicle

Battery Electric Vehicle

Hybrid Electric Vehicle

Plug-in Hybrid Electric Vehicle and Autonomous Vehicles

Regional Overview, 2019-2028 (USD Million)

North America

U.S.

Canada

Europe

UK

Germany

France

Rest of Europe

Asia Pacific

China

Japan

India

Rest of Asia-Pacific

Middle East and Africa

UAE

South Africa

Rest of Middle East and Africa

South America

Brazil

Rest of South America

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About Us :

Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market's size, key trends, participants and future outlook of an industry. We intend to become our clients' knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.

Contact Us :

Ryan Johnson

Account Manager Global

3131 McKinney Ave Ste 600, Dallas,

TX 75204, U.S.A

Phone No.: USA: +1.210.667.2421/ +91 9665341414

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