Press release
Major Force in the Software-Defined Vehicles Market 2025: Rising Demand For Electrified And Self-Driving Automobiles
Software-Defined Vehicles Market Industry
The software-defined vehicles market has grown rapidly in recent years. It will grow from $55.16 billion in 2024 to $65.42 billion in 2025, at a CAGR of 18.6%. This growth is driven by advancements in embedded systems, the rising demand for connected vehicles, the integration of over-the-air (OTA) updates, the shift toward electric and hybrid vehicles, and the regulatory emphasis on vehicle safety.
The software-defined vehicles market is projected to grow rapidly, reaching $127.01 billion by 2029, with a CAGR of 18.0%. This growth can be attributed to the implementation of 5G connectivity, the rise of mobility-as-a-service (MaaS), the integration of augmented reality (AR) in vehicles, the demand for personalized services, and regulatory emissions reduction. Key trends include ongoing ecosystem development collaborations, increased focus on cybersecurity, advancements in autonomous driving technologies, a shift toward software-defined architectures, and an emphasis on user experience (UX).
What Key Elements Are Boosting Growth in the Software-Defined Vehicles Market?
The increasing demand for electric and autonomous vehicles is expected to drive the expansion of the software-defined vehicle market in the coming years. Electric vehicles (EVs) are powered by multiple electric motors and can draw energy from a collection system, additional sources, or solely from a battery. Autonomous vehicles, also known as self-driving cars, can operate without human intervention. The adoption of software-defined vehicles will centralize the electronic and electrical framework of automobiles, facilitating the seamless integration of new functionalities throughout their lifecycle. For example, in March 2023, the International Energy Agency, an intergovernmental organization based in France, reported that electric car sales exceeded 10 million in 2022, accounting for 14% of all new vehicle sales, up from around 9% in 2021. Additionally, in January 2022, G2.com Inc., a US-based technology and information firm, stated that the global self-driving car market was expanding at an annual rate of 16%, with over 1,400 autonomous vehicles, including cars and trucks, undergoing testing. Consequently, the growing demand for electric and autonomous vehicles is fueling the software-defined vehicle market.
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Who Are the Major Industry Players Fueling Software-Defined Vehicles Market Expansion?
Major companies operating in the software-defined vehicles market report are Volkswagen AG, Toyota Motor Corporation, Stellantis N.V., Mercedes-Benz Group AG, Ford Motor Company, General Motors Company, Bayerische Motoren Werke AG, Honda Motor Co. Ltd., Hyundai Motor Group, Robert Bosch GmbH, Tesla Inc., Kia Corporation, Renault Group, Volvo Group, Qualcomm Incorporated, Continental AG, Tata Motors Ltd., Suzuki Motor Corporation, Nvidia Corporation, ZF Friedrichshafen AG, BYD Co. Ltd., Valeo S.A., Aptiv PLC, Harman International Industries, BlackBerry Limited, Jaguar Land Rover Automotive PLC, Marelli Holdings Co. Ltd., Green Hills Software Inc., Airbiquity Inc., Sonatus Inc.
Which Key Developments Are Influencing the Software-Defined Vehicles Market?
Leading companies in the software-defined vehicle market are focusing on state-of-the-art products like DRIVE Thor to cater to the needs of their consumers. DRIVE Thor is an advanced system-on-a-chip (SoC) designed for autonomous vehicles, integrating all smart vehicle operations into a single AI-powered computing system. In September 2022, NVIDIA Corporation, a US-based technology leader, launched DRIVE Thor, a central computing system designed for autonomous vehicle safety and functionality. Offering up to 2,000 teraflops of performance, DRIVE Thor consolidates intelligent functions such as automated and assisted driving, driver monitoring, digital dashboards, infotainment, and rear-seat entertainment within a unified architecture. Built on NVIDIA's cutting-edge Hopper Multi-Instance GPU, Grace CPU, and Ada Lovelace GPU, it enhances operational efficiency while reducing system costs.
How Is the Segmentation of the Software-Defined Vehicles Market Defined?
The software-defined vehicles market covered in this report is segmented -
1) By Propulsion: ICE Vehicles, Electric Vehicles
2) By Vehicle Type: Passenger Car, Commercial Vehicles
3) By Level Of Autonomy: Level 1, Level 2, Level 3, Level 4, Level 5
4) By Application: ADAS And Safety, Connected Vehicles Services, Autonomous Driving, Body Control And Comfort System, Powertrain System
Subsegments:
1) By ICE Vehicles (Internal Combustion Engine): Gasoline-Powered Vehicles, Diesel-Powered Vehicles
2) By Electric Vehicles: Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), Plug-In Hybrid Electric Vehicles (PHEVs)
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What Is the Leading Region in the Software-Defined Vehicles Market?
North America was the largest region in the software-defined vehicles market in 2024. The regions covered in the software-defined vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Software-Defined Vehicles Global Market Report?
- Market Size Analysis: Analyze the Software-Defined Vehicles Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Software-Defined Vehicles Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Software-Defined Vehicles Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Software-Defined Vehicles Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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