The global automotive software market is predicted to experience significant growth over the next five years, as stated in the TechSci Research report titled “Global Automotive Software Market By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium and Heavy Commercial Vehicle) By Application (ADAS & Safety, Connected Services, Autonomous Driving, HMI, V2X, Infotainment, Electric Vehicle Charging Management, Electric Vehicle Battery Management, V2G) By Software Layer (Operating System, Middleware, Application Software) By Company, By Region, Forecast & Opportunities, 2026.”
This growth is primarily due to the rising demand for vehicle applications like remote vehicle assistance, automatic crash notification, and emergency assistance. To prevent back-over accidents in automobiles, consumers are installing rear-view cameras and e-call systems, linking automobile functions to software, and consequently driving market growth. Automotive software improves dashboard display and ensures the safety of the operator and passengers. The integration of automotive software enhances automobile functionality without increasing costs significantly, making it a significant driver of global automotive software market growth. Automotive software also helps maintain operational controls and protects automobiles, ensuring the driver's comfort.
The report emphasizes the emerging trend of on-board vehicle health monitoring, sensor fusion, and diagnostic systems. The incorporation of a large number of microprocessors and significant memory spaces in automobiles contributes to market growth. The market is further supported by the increasing expenditure capacity of potential buyers. The use of open-source platforms in automobiles and the standardization of product offerings have led to a reduction in the overall cost of software development. The growth of autonomous and semi-autonomous vehicles and SOTA updates to reduce vehicle recalls is contributing to the growth of the automotive software market. Finally, the report highlights the potential of data monetization in the automotive software system and significant untapped markets, both of which are driving the market's growth.However, lack of connected infrastructure and maintenance of software may create hindrance in the global automotive software market growth.
Browse XX Figures spread through XX Pages and an in-depth TOC on "Global Automotive Software Market”.
The global automotive software market has been segmented by vehicle type, application, software layer, region, and company. The market has been further categorized into operating system, middleware, and application software based on the software layer. Application software is expected to dominate the market during the forecast period from 2022 to 2026. This is due to the diverse applications and software layers which facilitate the execution of tasks based on a set of applications, leading to the adoption of software in automobiles to perform different functions and customize the functions and architecture of the vehicles.
The development of technology to improve the commercial side of the automotive software market is influencing consumers and OEMs to prioritize software applications over automobiles. Based on the application, the market is divided into ADAS & safety, connected services, autonomous driving, HMI, V2X, infotainment, electric vehicle charging management, electric vehicle battery management, and V2G. The infotainment segment followed closely by the ADAS & safety segment is expected to hold the major market share in the upcoming years. ADAS & safety features such as blind spot detection and lane departure warning help to build communication.
Based on the vehicle type, the market is fragmented into passenger cars, light commercial vehicles, and medium and heavy commercial vehicles. The passenger car segment is expected to witness the highest sales in the forecast period due to growing preference for single ownership, higher disposable income, and higher living standards which is boosting the global automotive software market. The implementation of technologies in passenger cars is positively impacting the growth for the next five years.
Robert Bosch GMBH, Intel Corporation, Wind River System, Green Hills Software, Microsoft Corporation, Siemens Industry Software Inc., Aptiv Plc, KPIT Technologies, NXP Semiconductor, Renesas Electronics are the leading players operating in global automotive software market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several automotive software manufacturers are coming up with their technologically advanced offerings.
Customers can also request for 10% free customization on this report.
“Advent of new technologies comprising of artificial intelligence, IoT and roll-out of 5G technology is expected to create impact on the demand for automotive software market. Preference shift towards connected cars for automation and improve safety standards is influencing the market. Integration of automotive software along with connected car technology to monitor, configure and analyze automobile functions to increase efficiency of automobiles is expected to foster the market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Automotive Software Market By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium and Heavy Commercial Vehicle) By Application (ADAS & Safety, Connected Services, Autonomous Driving, HMI, V2X, Infotainment, Electric Vehicle Charging Management, Electric Vehicle Battery Management, V2G) By Software Layer (Operating System, Middleware, Application Software) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of global automotive software market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global automotive software market.
Comments