Global Automotive Software Market is calculated to value over USD 58 billion by 2026 end and grow at a CAGR of over 18% during the forecast period of 2019 to 2026. Automotive software helps the user communicate with the in-vehicle hardware and perform various functions.
Automotive Software Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026 Global Automotive Software Market is calculated to value over USD 58 billion by 2026 end and grow at a CAGR of over 18% during the forecast period of 2019 to 2026. Automotive software helps the user communicate with the in-vehicle hardware and perform various functions. It is linked with the sensors and the haptics present in the automobile. Additionally, it is being integrated with advanced health diagnostics and monitoring systems so that the user gets medical services at the latest. Automotive infotainment system manufacturers are making their systems similar to a PC architecture where the system functionality depends upon the central processing unit. Market Drivers and Restraints: Open source platforms and the standardization of products are the key factors driving market growth. This reduces the firmware development cost as well as the cost of application. Automobiles integrated with advanced driver assistance systems are driving the market further. Mandatory installation of e-call systems will boost the market even further. The software architectures are getting complex with the advancements in the driver assistance system. This leads to higher production costs for suppliers and OEM’s and these factors could restrain the market growth. Request a Sample Report @ https://www.futurewiseresearch.com/requestsample.aspx?id=45&page=requestsample Insights on Global Automotive Software Market: 1. By Region • Europe • North America • Asia Pacific • Latin America • Rest of the World European region comprises of a lot of major market players providing advanced driver assistant software and thus it is likely to dominate the global market during the forecast period. Countries like India, China, Japan are one of the largest consumer bases for automotive industries and that is one of the reasons the Asia Pacific is a fast-growing region in this market. Furthermore, due to the rapid adoption of automobiles with advanced software systems, it is fuelling the market growth even more. 2. • • • • • • By Application ADAS & Safety Systems Infotainment Systems Telematics System Communication Systems Body Control & Comfort Systems Powertrain Safety system dominates this market segment due to the rising demand for mandating the installation of safety systems across all types of automobiles worldwide. Infotainment system segment has a great potential for a higher market growth during the forecast period as systems like android auto and apple carplay are slowly getting integrated across all types of automobiles and companies like Uber, Ola, Lyft are introducing newer and innovative infotainment systems in their cabs in order to provide a great ride experience for the end user. Telematics system is another market segment with a huge scope for market growth. Automobile manufacturing companies are installing advanced GPS systems so that some onboard diagnostics can be performed for risk assessment purposes. This is one of the key factors that will help this market grow rapidly during the forecast period. 3. By Vehicle • Passenger Vehicle • Commercial Vehicle Passenger vehicles are integrated with more ECU-based featured that commercial vehicle and that is the reason it dominates this market segment. Integrating advanced infotainment systems along with in-vehicle systems like start-stop systems, power steering which is ECU-based fuels the market further. Additionally, the demand for such advanced automobiles for the sake of daily commute is on a rise which will boost the market even more. 4. • • • By EV Type Plug-In Hybrid Electric Vehicle (PHEV) Battery Electric Vehicle (BEV) Hybrid Electric Vehicle (HEV) Purchase a Copy & Ask For Discount: https://www.futurewiseresearch.com/requestsample.aspx?id=45&page=askfordiscount Competitive Landscape: • NXP • BlackBerry • NVIDIA • Microsoft • Elektrobit • Airbiquity • Green Hills Software • Wind River Microsoft recently worked with car manufacturer Morris Garages for providing user data privacy in the I-smart system integrated in their new car MG Hector. Such collaborations with major automotive players will help Microsoft grow in this market at a rapid rate. NXP designed software for the android auto infotainment system and this system is slowly being integrated across all automobiles which gives a good opportunity for NXP to expand their market worldwide BlackBerry’s QNX technology offer software solutions for infotainment, in-car network security, acoustics, advanced driver assistance system (ADAS) and multiple ECU-integrated features and automotive companies like Jaguar Land Rover, BMW, Audi, Toyota, Mercedes-Benz. In 2018, BlackBerry announced the launch of their cloud-based cybersecurity product Jarvis that can analyse and identify security flaws in the code used for developing automotive software. Before-mentioned innovations will undoubtedly assist BlackBerry to strengthen its market position during the forecast period. FutureWise Key Takeaways: • Growth prospects • SWOT analysis • Key trends • Key data-points affecting market growth Objectives of the Study: • To provide with an exhaustive analysis on the global automotive software market by region, by application, by vehicle, by EV type • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints) • To evaluate and forecast micro-markets and the overall market • To predict the market size, in key regions (along with countries)— Europe, North America, Asia Pacific and Latin America • To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions • Profiling of companies to evaluate their market shares, strategies, financials and core competencies Inquire further details about this report at: [email protected] About FutureWise Research: We specialise in high-growth niche markets, assuring flexibility, agility and customised solutions for our clients. Through in-depth market insights and consultancy, we present our clients with the tools they need to be at the forefront of their industry – a position secured for far more than the near future. Contact Us: Company Name: FutureWise Research Contact Person: Vinay Thaploo Email: [email protected] Phone: +44 141 628 9353 / +1 970 279 4295 City: Leeds Country: United Kingdom Website: www.futurewiseresearch.com
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