Press release
At CAGR of 18.50%, Automotive Software Market to Reach a Value of US$ 41.76 Billion by 2027
Automotive software refers to embedded software or firmware that is generally a set of instructions related to automotive industry-specific products or services. Using features, such as sensor fusion, automotive haptics, advanced driver assistance systems (ADAS), and communication, it assists the user in interacting with underlying in-vehicle hardware and performing control functions in a vehicle. Automotive software integration in cars allows for more intricate processes while improving dashboard displays and ensuring the operator's safety. In addition to this, the software functions without raising additional costs and determines the proper operation of controls, protection, and computerized systems, hence enabling motor vehicles to run smoothly.
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Automotive Software Market Growth Drivers:
The global automotive software market is primarily driven by the rapid employment of open-source platforms in creating user-experience-focused product offerings. With the increasing focus on automobile infotainment systems, manufacturers are getting competitive in providing the best software or operating system for their vehicles, which is driving the market growth significantly. Furthermore, increasing deployments of innovative software systems emphasizing unique vehicle model capabilities, coupled with the increasing influx of emerging advanced technologies and shifting preference towards a futuristic driving experience, are also positively impacting the market growth. Other factors, such as the increasing use of connectivity services for real-time data transfer and communications, the growing implementation of the internet of things (IoT) and artificial intelligence (AI), and stringent regulations promoting vehicle safety and fuel efficiency, are further providing an impetus to the market growth.
Key Players Included in Global Automotive Software Market Research Report:
• Airbiquity Inc.
• Autonet Mobile Inc.
• BlackBerry Limited
• Google LLC
• Green Hills Software
• KPIT Technologies Limited
• Microsoft Corporation
• MontaVista Software LLC
• NVIDIA Corporation
• NXP Semiconductors N.V.
• Robert Bosch GmbH a
• Wind River Systems Inc. (Intel Corporation)
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Key Market Segmentation:
Breakup by Product:
• Application Software
• Middleware
• Operating System
Breakup by Vehicle Type:
• ICE Passenger Vehicle
• ICE Light Commercial Vehicle
• ICE Heavy Commercial Vehicle
• Battery Electric Vehicle
• Hybrid Electric Vehicle
• Plug-in Hybrid Electric Vehicle
• Autonomous Vehicles
Breakup by Application:
• Safety and Security
• Infotainment and Instrument Cluster
• Vehicle Connectivity
• Others
Breakup by Region:
• Middle East and Africa
• North America
• Asia-Pacific
• Europe
• Latin America
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