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Rising Demand For Electrified And Self-Driving Automobiles: Transformative Forces Shaping the Software-Defined Vehicles Market Landscape in 2025
Software-Defined Vehicles
What Is the Expected CAGR for the Software-Defined Vehicles Market Through 2025?
The market for software-defined vehicles has experienced significant expansion in the past few years. The market is projected to surge from $55.16 billion in 2024 to $64.92 billion in 2025, displaying a compound annual growth rate (CAGR) of 17.7%. This substantial growth during the historical period could be credited to progress in integrated systems, the escalating demand from consumers for vehicles with connectivity, the incorporation of over-the-air (OTA) updates, a shift towards electric and hybrid vehicles, and a regulatory focus on vehicle safety.
What's the Projected Size of the Global Software-Defined Vehicles Market by 2029?
Rapid expansion is anticipated in the software-defined vehicles sector in the coming years, with the market predicted to reach $125.23 billion by 2029, growing at a compound annual growth rate (CAGR) of 17.9%. Factors such as the implementation of 5g connectivity, the emergence of mobility-as-a-service (maas), augmented reality (ar) integration into vehicles, a growing demand for personalized and context-specific services, and regulation-driven emission reductions are likely responsible for this projected growth during the forecast period. Additionally, ongoing cooperative efforts for ecosystem development, heightened focus on cybersecurity, advancements in autonomous driving technology, a shift towards software-defined architectures, and a emphasis on user experience (ux) are expected to continue as major market trends.
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Top Growth Drivers in the Software-Defined Vehicles Industry: What's Accelerating the Market?
The software-defined vehicle market is anticipated to experience significant growth due to the increasing demand for autonomous and electrical cars. An electric vehicle (EV), which can derive its energy from a variety of sources including a battery or a collection system, is driven by multiple electric motors. On the other hand, autonomous vehicles, also known as self-driving cars, function without human intervention. These vehicles' electrical and electronic architecture is centralized by the software-defined vehicle, facilitating the introduction of new features throughout their life cycle. The International Energy Agency reported in March 2023 that the electric car market saw a surge as 10 million units were sold in 2022. In 2022, electric vehicles accounted for 14% of all new car sales, marking a significant rise from roughly 9% in 2021. Additionally, a report from G2.com Inc., an American internet, information and technology firm, in January 2022 stated that the global self-driving car industry was expanding by 16% annually, and more than 1,400 self-driving vehicles were undergoing testing. Consequently, the growing demand for both electric and self-driving vehicles is propelling the expansion of the software-defined vehicle market.
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What Trends Will Shape the Software-Defined Vehicles Market Through 2029 and Beyond?
In the field of software-defined vehicles, key firms are concentrating on cutting-edge technology products like DRIVE Thor to cater better to their current clientele. The future-focused system-on-a-chip (SoC) product, DRIVE Thor, is developed for autonomous vehicles with the intention to unify all smart vehicle functions on a solitary artificial intelligence computer. For instance, in September 2022, US-based tech organization, NVIDIA Corporation, known for designing and manufacturing graphics processing units, rolled out DRIVE Thor - an advanced main system made for secure autonomous vehicles. Rated with a performance of up to 2,000 teraflops, DRIVE Thor amalgamates smart functions such as automated and assisted driving, parking, driver and individual surveillance, digital instrument cluster, in-car infotainment (IVI), and back-seat amusement into a single framework for increased efficiency and minimized overall system expense. The state-of-the-art superchip incorporates high-end AI features initially observed in the NVIDIA Hopper Multi-Instance GPU architecture along with the NVIDIA Grace CPU and NVIDIA Ada Lovelace GPU. Furthermore, DRIVE Thor's MIG support for visual and computational tasks enables IVI and high-end driver-help technologies to function with domain isolation, thus permitting simultaneous time-sensitive tasks to run without interference.
What Are the Main Segments in the Software-Defined Vehicles Market?
The software-defined vehiclesmarket 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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Which Top Companies are Driving Growth in the Software-Defined Vehicles Market?
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 Regions Will Dominate the Software-Defined Vehicles Market Through 2029?
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.
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