openPR Logo
Press release

Software-defined Vehicle Market worth $419.7 Billion by 2028, at a CAGR of 9.1%

06-25-2024 01:28 AM CET | Associations & Organizations

Press release from: ABNewswire

Software-defined Vehicle Market

Software-defined Vehicle Market

The global Software-defined Vehicle Market in terms of revenue was estimated to be worth $270.9 billion in 2023 and is poised to reach $419.7 billion by 2028, growing at a CAGR of 9.1% during the forecast period.
The report "Software-defined Vehicle Market [https://www.marketsandmarkets.com/Market-Reports/software-defined-vehicles-market-187205966.html] by Offering (Hardware, Software, Services), Vehicle Type (ICE, BEV, HEV/PHEV), Vehicle Autonomy (Level 0, Level 1, Level 2, Level 3, Level 4, Level 5), Application and Region - Global Forecast to 2028" The software-defined vehicle market is projected to grow from USD 270.9 billion in 2023 to USD 419.7 billion by 2028, registering a CAGR of 9.1% during the forecast period. The market growth is attributed to the continued development of connected vehicles and the introduction of 5G cellular connectivity projects. Furthermore, the emergence of ride-hailing and mobility-as-a-service platforms is expected to create lucrative opportunities for the market.

Download PDF Brochure @ [https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=187205966&utm_source=ABNewswire&utm_medium=Referral&utm_campaign=PAID-PR]

Browse 135 market data Tables and 56 Figures spread through 195 Pages and in-depth TOC on "Software-defined Vehicle Market by Offering (Hardware, Software, Services), Vehicle Type (ICE, BEV, HEV/PHEV), Vehicle Autonomy (Level 0, Level 1, Level 2, Level 3, Level 4, Level 5), Application and Region - Global Forecast to 2028"

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/software-defined-vehicles-market-187205966.html [https://www.marketsandmarkets.com/Market-Reports/software-defined-vehicles-market-187205966.html]

[https://www.marketsandmarkets.com/Market-Reports/software-defined-vehicles-market-187205966.html]

The ICE vehicle type segment is expected to account for the largest share of the software-defined vehicle market in 2023.

The ICE segment is a significant market for software-defined vehicles. The driving factors for the adoption of ICE SDVs include the need for improved fuel efficiency and emissions, in addition to the desire for more connected and autonomous vehicles and the increasing availability of software and computing power. Software-based ICE vehicles have various benefits, including improved fuel efficiency and emissions, new features and functionality, over-the-air updates, and autonomous driving. The software in ICE-based vehicles can control the speed, steering, braking, and the environment and decide how to get around safely. Further, these vehicles often include ADAS features, such as adaptive cruise control, lane departure warning, automatic emergency braking, and parking assist. These features rely on sensors, cameras, and software algorithms to enhance safety and convenience. For example, the Volvo XC90 is a luxury SUV with a turbocharged gasoline engine.

Hardware is expected to account for the largest share of the software-defined vehicle market in 2023.

The hardware segment accounted for the largest share of the software-defined vehicle market in 2022, and a similar trend is expected to be witnessed during the forecast period. With increasingly standardized hardware and a narrowed technical gap, the automotive industry is likely to go through a similar development process. Due to the rise in the development of automotive technologies, the adoption of software-defined vehicles is also increasing. The hardware segment is divided into four sub-segments: ECU/DCU, sensors/actuators, power electronics, and others. This hardware plays a crucial role in shaping the behavior, capabilities, and user experience of modern vehicles.

Asia Pacific market is expected to witness the highest CAGR in the software-defined vehicle market during the forecast period.

Asia Pacific is projected to record the highest CAGR during the forecast period. One of the key drivers for the Asia Pacific software-defined vehicle market is the increased demand ADAS, particularly in China, Japan, India, and South Korea. China already has some regulations in place in this domain. Moreover, government promotions and schemes have led to an increase in electric vehicle production volumes over the years, which caters to domestic and overseas demand. Japan and China export electric vehicles across the globe.

Key players

Key players in the software-defined vehicle market include Robert Bosch GmbH (Germany), Nvidia Corporation (US), APTIV (Ireland), Valeo (France), Marelli Holdings Co., Ltd. (Japan), Continental AG (Germany), Volkswagen Group (Germany), Tesla (US), HARMAN International (US), BlackBerry Limited (US), among others.

Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=softwaredefined-vehicle-market-worth-4197-billion-by-2028-at-a-cagr-of-91]
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/software-defined-vehicles-market-187205966.html



This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Software-defined Vehicle Market worth $419.7 Billion by 2028, at a CAGR of 9.1% here

News-ID: 3551854 • Views:

More Releases from ABNewswire

Tampa Bay Remodeling Trends 2025: What Homeowners Are Choosing for Kitchen, Bath & Home Renovations
Tampa Bay Remodeling Trends 2025: What Homeowners Are Choosing for Kitchen, Bath …
Tampa Bay's home remodeling trends in 2025 reflect a growing demand for smart kitchens, spa-style bathrooms, energy-efficient upgrades, and multi-generational living solutions. Based on local projects across South Tampa, Clearwater, and Wesley Chapel, this analysis highlights the top renovation features Tampa homeowners are prioritizing, with insights from licensed contractor Dan Blizer of Craftline Remodeling. Industry Analysis Reveals Shift Toward Sustainable Materials, Smart Home Integration, and Multi-Generational Design Solutions Tampa Bay's home remodeling
Durable, Precise, Powerful: Meet HUDEF's Apex Pro2 Pickleball Paddle
09-11-2025 | Sports
ABNewswire
Durable, Precise, Powerful: Meet HUDEF's Apex Pro2 Pickleball Paddle
Many pickleball players face issues with paddles that lose shape or fail to provide consistent control after repeated use. Traditional foam and EPP cores, while lightweight, often deform, negatively impacting accuracy and performance. The HUDEF Apex Pro2 Pickleball Paddle addresses these problems with its innovative Supercritical Foaming Polypropylene Honeycomb Core, ensuring durability and improved performance during gameplay. New York - Sep 10, 2025 - Many pickleball players struggle with paddles that
Morristown, NJ Homeowners Trust Freedom Plumbing for Affordable Water Heater Repairs and Installations
Morristown, NJ Homeowners Trust Freedom Plumbing for Affordable Water Heater Rep …
Freedom Plumbing is the trusted choice in Morristown, NJ for affordable water heater repairs and installations, keeping homes comfortable and reliable year-round. Morristown, NJ - For many households, hot water is essential to daily life, from morning showers to evening chores. When water heaters fail or show signs of wear, the disruption can be significant. In Morristown, residents are increasingly turning to professional plumbing services to ensure their systems are running
What to Do During a Plumbing Emergency: Joe Castro Plumbing Provides Crucial Tips for Oak Ridge North Residents
What to Do During a Plumbing Emergency: Joe Castro Plumbing Provides Crucial Tip …
Joe Castro Plumbing shares essential tips for Oak Ridge North residents on handling plumbing emergencies safely until professional help arrives. Oak Ridge North, TX - Plumbing emergencies can happen without warning, and when they do, fast action is essential to minimize damage and restore safety. From burst pipes to overflowing toilets, these unexpected situations can disrupt daily life and cause costly repairs if not handled promptly. Local residents are being reminded

All 5 Releases


More Releases for Level

Prominent Level Gauge Market Trend for 2025: Innovative Liquid-Level Sensors In …
What industry-specific factors are fueling the growth of the level gauge market? The expansion of oil and gas industries is anticipated to spur the growth of the level gauge market. These industries are key players in the energy market, managing the drilling, storing, and transporting operations for oil, natural gas, and related slurry. The separation, storage, and processing of these resources require advanced production equipment and tanks. Crucial to these processes
Advanced Solutions for Accurate Level Measurement - External Ultrasonic Level Ga …
Welcome to our blog where we introduce you to an innovative product that provides accurate liquid level measurement. Our company, Chengdu Huacheng Instrument Co. Limited, specializes in providing professional environmental monitoring technology solutions to our esteemed clients. Today, we are pleased to introduce the External Ultrasonic Level Gauge [https://www.cdhcinstrument.com/externally-attached-ultrasonic-level-meter-product/], a cutting-edge device designed to accurately measure liquid levels in closed vessels without drilling holes or interrupting the production process. 1. Revolutionary
Multi-level liquid level switch Market Size, Share, Development by 2024
Global Info Research offers a latest published report on Multi-level liquid level switch Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. This report focuses on the key global Multi-level liquid level switch players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years. To analyze the Multi-level liquid level
Level Sensor Market Share, Growth, Trends and Forecast 2018 - 2026: By Applicati …
Global Level Sensor Market: Snapshot Global Level Sensor Market report provides analysis for the period 2016 – 2026, wherein the period from 2018 to 2026 is the forecast and 2017 is the base year. The data for 2016 has been included as historical information. The level sensor report covers all the sensor types, technology, applications and industry verticals playing significant role in the global level sensor market’s growth over the forecast
Level Gauge Market Report 2018: Segmentation by Type (Tank Level, Fuel Level, Wa …
Global Level Gauge market research report provides company profile for ABB Measurement & Analytics, Barksdale Control Products, jbj Techniques Limited, JOGLER, Inc., Keller America, Inc., KOBOLD Instruments, Inc., Krohne Ltd., Krueger Sentry Gauge Co., OMEGA Engineering, Inc., SensorsONE, Ltd. and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of
¬Water Level Monitoring Using a Druck Depth/Level Sensor
In this Tech Article from CAS DataLoggers and dataTaker, we describe the process of connecting the Druck PTX 1830 depth/level sensor to a dataTaker DT8x series data logger. These two components can function as a water level monitoring logger and record depth measurements. The Druck sensor outputs a 4-20mA signal and can be powered by the dataTaker’s switchable 12V regulated voltage output. Equipment required: • dataTaker DT8x data logger • Druck PTX 1830