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Automotive Software Market Driving Forces: The Rise of Connected Cars and Advanced Electronics in the Automotive Market Will Reach at $ 81.57 billion by 2030

02-20-2024 02:13 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: SNS Insider Pvt Ltd

Automotive Software Market

Automotive Software Market

The Automotive Software Market proliferation of connected cars is driving market growth. These vehicles offer enhanced features and services enabled by internet connectivity, such as real-time traffic information, remote diagnostics, and over-the-air updates.

Market Size-

The SNS Insider report indicates that the Automotive Software Market was valued at USD 24.02 billion in 2022, and it is projected to achieve a market size of USD 81.57 billion by 2030, with a compound annual growth rate (CAGR) of 16.51% expected over the forecast period from 2023 to 2030.

Get Full PDF Sample Copy of Report (Including TOC, List of Tables & Figures, Chart):@https://www.snsinsider.com/sample-request/1056

Market Key Players:

Robert Bosch (Germany)
Green Hills Software (US)
Wind River Systems
Renesas Electronics (Japan)
Airbiquity (US)
BlackBerry (Canada)
NVIDIA (US)
Autonet Mobile, Inc. (USA)
Elektrobit (US)
NXP (Netherlands)

Market Report Scope -

The automotive software is a set of programmable instructions designed for computer applications based on in cars. These applications include functions such as vehicle control, infotainment, telematics, comfort, safety features, advanced driver assistance systems ADAS and communication applications which are crucial to the embedded car's system. The global automotive software sector is expected to be driven by the rising demand for communication between cars via car telematics over the forecast period.

Market Growth Factors -

The growth of the market is driven primarily by an increasing number of connected cars, advanced user interface technologies, expanding electronic applications in vehicles, a need for electric and intelligent driver assist systems. Due to the growing demand for passenger cars, there has been an increase in worldwide demand. Due to the high demand for personal mobility, rising disposable income and increasing per capita incomes, the necessity of passenger vehicles with top electronics has increased, increased per capita income, and improved living conditions. Modern technology is still widely adopted in this vehicle class because of increased worldwide production and demand for passenger cars. Moreover, demand for automotive software is expected to increase as a result of the development of technologies such as autonomous driving. The cost of developing applications and firmware has decreased as a result of the use of open-source platforms and product standardization, growing automotive software development.

Segmentation Analysis -

In 2022, the ADAS & Safety segment accounted for over 20% of global revenue, based on application. With customers and regulators moving towards safer vehicles, there is a growing focus on safety in the automotive industry. Advanced driver assistance systems, such as lane assist, adaptive cruise control and collision avoidance technologies are playing a crucial role in enhancing vehicle safety. In addition, autonomous vehicles with advanced safety are increasingly sought by customers.
The internal combustion engine (ICE) segment led the global market with the largest revenue share of over 86% in 2022. A large part of the world's vehicle fleet continues to be covered by ICE vehicles, given that the automotive sector is making rapid progress with electrification and autonomous driving. Software is required for engine management, emission control, transmission controls and a number of vital functions in these vehicles. In addition, ICE vehicles still play an important role in a large number of emerging economies.

By Application:

ADAS & Safety Systems
Body Control & Comfort System
Remote Monitoring
Powertrain System
Communication System
Infotainment System
Biometrics
Vehicle Management & Telematics
Connected Services
Autonomous Driving
HMI Application
V2X System

By Software Layer:

Operating System
Application software
Middleware

By Solution:

Autopilot Software
Navigation Software
Car safety Software
Entertainment Software

By Vehicle Type:

Passenger car (PC)
Heavy commercial vehicle (HCV)
Light commercial vehicle (LCV)

Key Regional Development -

In 2022, North America accounted for over 32% of global revenue. The region has an established and strong car industry, with a great deal of auto manufacturers, suppliers and technology companies. Innovation and development of software solutions for vehicles are driven by this industry's strengths. In addition, the North American market for electric vehicles and vehicle autonomy is very large. Software for the control of the motors and batteries is very important for both of these segments.
In the forecast period, Asia Pacific is expected to show the highest compound annual growth rates. In driving the increasing demand for automotive software in this region, considerable technological progress is playing a key role. In addition, the demand for automotive software solutions is being driven by the growing acceptance of technological innovations. The region has a large and growing population, which provides a large customer base for automotive manufacturers, and is expected.

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Key Takeaway's-

The automotive sector has made significant strides in self-driving car technology in recent years, and advanced driver assistance systems (ADAS) are a vital component of this technology. The major vehicle manufacturers have integrated ADAS features in their next generation of vehicles, alongside increasing demands for enhanced safety systems such as adaptive cruise control and automatic emergency braking or increased regulatory requirements to limit road accidents.

Recent Developments -

In September 2023, Robert Bosch Gmbh announced the Vehicle Dynamics Control 2.0 at IAA Mobility 2023. This software will allow vehicles to be handled and protected more effectively by means of an intervention in the brakes, electrical powertrains as well as a steering system with reduced counter steering which results in lower stopping distances.
NXP Semiconductors and Elektrobit, a leading provider of AUTOSAR and Linux software, worked together to develop software for next generation automotive battery management systems in September 2023. The software will help to reduce the initial cost of developing a battery management systemBMS, and increase ease of use for NXP's high voltage BMS reference design HVBMS RD.
In May 2023, BlackBerry Limited released QNX Software Development Platform (SDP) 8.0 that enables automakers and IoT system developers to deliver more powerful products at lower costs, while maintaining the unparalleled safety, security and reliability standards of QNX technology.

For More Information, Visit:@https://www.snsinsider.com/reports/automotive-software-market-1056

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
5. Value Chain Analysis
6. Porter's 5 forces model
7.  PEST Analysis
8. Global Automotive Software Market Segmentation, by Application
9. Global Automotive Software Market Segmentation, by Software Layer
10. Global Automotive Software Market Segmentation, by Solution
11. Global Automotive Software Market Segmentation, by Vehicle type
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion

Contact Us:

Akash Anand - Head of Business Development Strategy
Email: mailto:info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
Website: https://www.snsinsider.com

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

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