Automotive Software Market Opportunities, Analysis And Forecast 2023 to 2030 Major Drivers |Denso Corporation, Airbiquity Inc., Aptiv PLC

As per the report published by The Brainy Insights, the global automotive software market is expected to grow from USD 24.61 Billion in 2021 to USD 105.13 Billion by 2030, at a CAGR of 17.51% during the forecast period 2022-2030. Asia Pacific region emerged as the largest market for the global automotive software market, with a 45.11% share of the market revenue in 2021. The rapid development of smart transport systems and connected mobility in countries like China & Japan is propelling the market's growth during the forecast period in this region. Also, the rise in investment by private & public vendors to develop information & communications technology infrastructure also helps to drive the market growth in this region. In addition, the North America region is expected to show the fastest CAGR growth over the projection period due to the proliferation in the number of connected cars and rising vehicle production.

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Automotive Software Market Size by Software Layer (Application Software, Operating System, and Middleware), Vehicle Type (ICE Light Commercial Vehicle, ICE Passenger Car, ICE Heavy Commercial Vehicle, Plug-in Hybrid Electric Vehicle, Hybrid Electric Vehicle, and Autonomous Vehicles), Application (Vehicle Management & Telematics, HMI Application software, Remote Monitoring Charging Management, Connected Services, ADAS & Safety Systems, V2X System, and Others) Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Leading companies in the industry include Denso Corporation, Airbiquity, Inc., Aptiv PLC, Google Inc., Intel Corporation, ETAS, Apple, Inc., Elektrobit, Luxoft Global Operations GmbH, MSC Software Corporation, Bosch Software Innovations GmbH, International Business Machines Corporation, Green Hills Software Inc., Microsoft Corporation, Lectronix, Inc, NVIDIA Corporation, Nuance Communications, Inc., The MathWorks, Inc., Lynx Software Technologies, Inc., Oxbotica LTD, Wind River Systems, Inc, Tesla Motors Inc., NXP Semiconductors N.V., and Vector Informatik GmbH which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The software layer segment is divided into application software, operating system, and middleware. The application software layer segment led the market with a market share of 43.15% in 2021. This growth is attributed to the customization of the architecture & functions of the vehicles. The vehicle type segment is divided into ICE light commercial vehicle, ICE passenger car, ICE heavy commercial vehicle, plug-in hybrid electric vehicle, hybrid electric vehicle, and autonomous vehicles. The ICE passenger car type segment led the market with a market share of 24.18% in 2021. This growth is attributed to the increasing adoption of different progressive technologies like machine learning, AI, and VR. The application segment is divided into vehicle management & telematics, HMI application software, remote monitoring charging management, connected services, ADAS & safety systems, V2X system, and others. The ADAS & safety systems application segment led the market with a market share of 22.15% in 2021. This growth is attributed to the increasing launching of autonomous driving vehicles through the foremost players.

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The growing integration of telematics services is propelling the automotive software market's growth. Further, the rising influx of emerging & developed technologies into vehicle models to enhance functionality, protection, and the driving experience also boosts the development of the automotive software market. Additionally, the expansion of smart abilities in different infotainment systems in automobiles that stimulates the consumption of automotive software mainly also helps the market growth.

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