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Automotive Software Market By Application (Engine Management System, Anti-Lock Braking System, Airbag control, Car Navigation System, Infotainment System, Mobility Service); By Type (passenger car and commercial vehicle); By End use (Manufacturer Retail Store, Automotive Dealer, Automotive Repair Store, Auto Part Wholesaler and Agent) and Region Analysis of Market Size, Share and Trends for 2014 2019 and Forecasts to 2030
Automotive software market registered a growth of USD 19.6 billion in 2021 and is expected to register a growth of USD 61.9 billion in the forecast period 2030 and grow at a CAGR of 13.7% till 2030.
Automotive software is an operating system or a set of instructions that are used for the interaction of a user with the electronic devices in the vehicle as well as for control functions. It focuses on the increasing trend of sensor fusion, automotive haptics as well as the health monitoring and diagnostic system in the vehicle. With growing digitalization and the use of the internet of things and smart and more connected vehicles, this automotive software has shown significant growth owing to the requirement for an interactive solution between the vehicle and the owner.
Automotive software market is expected to project a CAGR of 13.7% during the forecast period, 2021-2030
Open source platforms with reduced application costs are to increase the market growth for automotive software. A rise in demand for electronic vehicles in need of integration and operating systems and increased usage of IoT devices are also expected to spur the growth of the market. The installation of rearview cameras in vehicles to avoid accidents is another factor for the increasing market growth.
The engine management system segment to grow with the highest CAGR of XX% during 2020-2030
By application the market is segmented into Engine Management systems, Anti-Lock Braking systems, Airbag control, Car Navigation systems, Infotainment systems, and Mobility services. The engine management system registers the highest CAGR growth due to its high efficiency as well as stringent fuel emission-related government regulations.
The passenger segment to grow with the highest CAGR of XX% during 2020-2030
By type, it can be classified into passenger car and commercial vehicle segments. The passenger car segment dominated the market due to the high demand for passenger cars and the emergence of new auto manufacturers in the world.
The manufacturer segment to grow with the highest CAGR of XX% during 2020-2030
By end-use, it is divided into Manufacturer Retail Store, Automotive Dealer, Automotive Repair Store, Auto Part Wholesaler, and Agent. Digitization, rise in the customer needs, l and government regulations are increasing competition in the market thus growing the manufacturer retail segment.
Less application cost as well as increased IoT demand to increase growth
Open source platforms with reduced application costs are to increase the market growth for automotive software. A rise in demand for electronic vehicles in need of integration and operating systems and increased usage of IoT devices are also expected to spur the growth of the market. The installation of the rearview camera in vehicles to avoid accidents is another factor in the increasing market growth.
Lack of knowledge and absence of protocols to hamper the market growth
The absence of any protocols for product development and lack of expertise and knowledge in the area are major factors that hamper the growth of the automotive software market. Increased complexity in software and the high production cost of OEM also negatively impact the market. Increased complexity in software and high production cost of OEM.
North America dominates the regional segment due to the presence of prominent key players in the market, increased number of connected cars, V2X technology, and expansion of original equipment manufacturers. APAC is likely to have high growth during the forecasted period due to the emergence of new opportunities, improvements in automotive and rising disposable income, and economic growth in the developing countries of the region.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The Automotive Software Market size was estimated at USD 19.6 billion in 2021 and is expected to reach USD 61.9 billion by 2030
Autodesk Inc, Bosch Software Innovations GmbH, CDK Global LLC, Cox Automotive, Daimler AG, Ford Motor Company, General Motors Company, Honda Motor Company, Wipro Limited, Other Prominent Players
The engine management system segment and The passenger segment are
Drivers Less application cost as well as increased IoT demand to increase growth
Automotive software is an operating system or a set of instructions that are used for the interaction of a user with the electronic devices in the vehicle as well as for control functions. It focuses on the increasing trend of sensor fusion, automotive haptics as well as the health monitoring and diagnostic system in the vehicle.
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