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Increasing Connected Car Adoption Fuels Automotive Software Market: A Key Catalyst Accelerating Global Automotive Software Market Growth in 2025
Automotive Software
Automotive Software Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Rapid expansion has been witnessed in the automotive software market size in the last few years. It is projected to rise from $30.15 billion in 2024 to $34.91 billion in 2025, reflecting a compound annual growth rate (CAGR) of 15.8%. The impressive growth during the historic period can be ascribed to drives such as the consumer demand for connectivity, legal mandates related to emissions and safety, development of in-car entertainment solutions, demands for fuel efficiency, globalization trends in automotive supply chains, and the escalating complexity of vehicle systems.
Automotive Software Market Size Forecast: What's the Projected Valuation by 2029?
An increase in the size of the automotive software market is anticipated shortly, with a projected growth to $62.79 billion by the year 2029, reflecting a compound annual growth rate (CAGR) of 15.8%. The rise during the forecast period is largely due to advancements in mobility service business models, increasing demand for customization and user experience, heightened focus on data security and privacy, improved predictive maintenance, and continuous updates and retrofitting. Major trends predicted for the forecast period include the rise of software-defined vehicles, the growing complexity of in-car entertainment systems, cybersecurity for connected vehicles, the adoption of over-the-air (OTA) updates, and a focus on user experience (UX) design.
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What Are the Drivers Transforming the Automotive Software Market?
The automotive software market is predicted to surge due to the increased use of connected cars. A connected car, characterized by its ability to engage in two-way communication with external systems, allows a myriad of inside and outside devices to communicate with the car through the internet. The automotive software within these connected cars enables internet connectivity, advanced security, and even remote control system access via an in-house connectivity platform. As per the revelations of a study by Cisco, a US-based tech company, by the year 2025, around 2 billion connected vehicles will be running on global roads due to the advancements in automobile technology and aftermarket equipment. This increasing preference for connected cars fuels the automotive software market's growth.
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What Long-Term Trends Will Define the Future of the Automotive Software Market?
In the automotive software market, the key trend catching attention is product innovation. Firms prominent in this sector are committed to producing unique and advanced solutions to cater to customer needs. Valeo, a French automotive manufacturing enterprise, in September 2023, unveiled anSWer - a new software-as-a-product and software-as-a-service product. This was done at International Automobile Exhibition (IAA) Mobility 2023. The modular, scalable solution equips customers with premium applications, middleware, and services customized for their requirements. Valeo anSWer offers software stacks that function as a foundation for advanced applications and middleware in a service format. Services like integration, testing, validation, and maintenance ensure operating security and functionality throughout the vehicle's lifespan.
Which Segments in the Automotive Software Market Offer the Most Profit Potential?
The automotive softwaremarket covered in this report is segmented -
1) By Solution: Autopilot Software, Navigation Software, Entertainment Software, Car Safety Software
2) By Software Layer: Operating System, Middleware, Application Software
3) By Vehicle Type: Passenger Car, LCV (Light Commercial Vehicle), HCV (Heavy Commercial Vehicle)
4) By Application: ADAS (Advanced Driver Assistance Systems) And Safety Systems, Body Control And Comfort System, Powertrain System, Infotainment System, Communication System, Vehicle Management And Telematics, Connected Services, Autonomous Driving, HMI (Human-Machine Interface) Application, Biometrics, Remote Monitoring, V2X (Vehicle-To-Everything) System
Subsegments:
1) By Autopilot Software: Level 2 Automation Software, Level 3 Automation Software, Level 4 And Level 5 Automation Software
2) By Navigation Software: GPS Navigation Systems, Real-Time Traffic Update Software, Route Optimization Software
3) By Entertainment Software: Infotainment Systems, Streaming Services Integration, In-Car Connectivity Software
4) By Car Safety Software: Advanced Driver-Assistance Systems (ADAS), Collision Avoidance Software, Electronic Stability Control Software
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Which Firms Dominate the Automotive Software Market by Market Share and Revenue in 2025?
Major companies operating in the automotive software market are NVIDIA Corporation, NXP Semiconductors N.V., BlackBerry Limited, Airbiquity Inc., Wind River Systems Inc., Green Hills Software LLC, Renesas Electronics Corporation, Microsoft Corporation, Elektrobit Automotive GmbH, Autonet Mobile Inc., MontaVista Software LLC, AImotive Kft., Adobe Inc., Atego Systems Inc., Robert Bosch GmbH, Alphabet Inc., Luxoft, Cox Automotive Inc., SAP SE, CDK Global Inc., Reynolds and Reynolds, Google LLC, KPIT Technologies Limited, Solera Holdings Inc., Dominion Enterprises, Epicor Software Corporation, Wipro Limited, Infosys Limited, Tata Consultancy Services Limited, Tech Mahindra Limited, HCL Technologies Limited, Capgemini SE, International Business Machines Corporation, Oracle Corporation, accenture* plc
Which Regions Offer the Highest Growth Potential in the Automotive Software Market?
Asia-Pacific was the largest region in the automotive software market in 2024. The regions covered in the automotive software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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