The Automotive Software Market Size Was Valued at USD 25.8 Billion In 2021 And Is Expected to Reach USD 110 Billion By 2030, Poised to Grow at a CAGR Of 17.7% Over The Forecast Period From 2022 To 2030.
Automotive software compiles programmable data instructions used in computer-based in-vehicle applications to carry out tasks. Software utilized in in-vehicle systems is also referred to as automotive software. Telematics, infotainment, powertrain, body control and comfort, communications, advanced driver assistance systems (ADAS), and safety are some of the in-vehicle computer applications. In the near future, cars will be able to interact with one another and with their drivers. Because of these technical developments, manufacturers are now required to incorporate software programs that will give their customers more usability and convenience.
Automakers are constantly engaging in automotive software integration that helps provide more convenience and usability to customers. The demand for advanced technology has increased significantly in recent years. As demand for self-driving vehicles grows among the population, automotive software has emerged as a major growth factor for automotive software as it provides the necessary integrations to connect entire vehicles into a single system that can manage the vehicle's capabilities and balance.
By using telematics in automotive software, companies can track the current state of their vehicles, allowing them to better serve consumers and manage the current state of their vehicles. This has proven beneficial to the automotive industry as it reduces the maintenance costs of vehicles. The automotive industry needs skilled professionals to manage the features of this software that help keep the industry functioning smoothly.
Car scan tools are essential tools in the automotive industry, enabling technicians to diagnose and troubleshoot vehicle issues efficiently. These automotive scan tools are equipped with advanced software that aids in identifying and analyzing problems within the vehicle's systems. Automotive repair software plays a crucial role in streamlining repair processes, helping mechanics access comprehensive databases, repair procedures, and technical information. Auto repair software assists in managing various aspects of automotive repair, including inventory management, scheduling, and billing. With the help of automotive management software, repair shops can enhance their overall efficiency and deliver quality services to their customers.
Market Dynamics:
Drivers:
Growing Demands for Connected Vehicles - The connected car industry has seen tremendous growth in the global market employing cutting-edge software systems that control all aspects of an automobile's functionality and handling in addition to help from artificial intelligence. The market for automotive software has seen significant growth as a result, and this is projected to continue in the majority of economies.
The emergence of new market players - After the introduction of the electrical sector in the electrical sector, which has recently seen tremendous demand in the automotive software market, several new market players have emerged. The plethora of people choosing from the technologically advanced options available in the automotive sector has increased demand for sleeker and better user-friendly software that provides a great experience for consumers.
Restraints:
As more cutting-edge items are introduced to the market, new technologies demand greater investment in research and development (R&D). As a result of remarkable advancements in automation technologies, drones, and virtual reality (VR) systems, the IT industry is under enormous pressure to provide new and better solutions. All of these goods require extensive R&D and new parts. Development of goods that aid businesses in acquiring new technology and capabilities receive significant funding. A competent event management solution costs considerably, but its features are robust. However, the ROI can be affected and the software is pricey if your company only hosts small events.
Key players:
• Denso Corporation
• Airbiquity, Inc.
• Aptiv PLC
• Google Inc.
• Intel Corporation
• ETAS
• Apple, Inc.
• Elektrobit
• Luxoft Global Operations GmbH
• MSC Software Corporation
• Bosch Software Innovations GmbH
• International Business Machines Corporation
• Green Hills Software Inc.
• Microsoft Corporation
• Lectronix, Inc.
• NVIDIA Corporation
• Nuance Communications, Inc.
• The MathWorks, Inc.
• Lynx Software Technologies, Inc.
Market Segmentation:
Automotive Software Market, By Application
-
Safety System
-
Infotainment and Telematics
-
Powertrain
-
Chassis
Automotive Software Market, By Product
-
Operating System
-
Middleware
-
Application Software
Automotive Software Market, By Vehicle Type
-
ICE Passenger Car
-
ICE Light Commercial Vehicle
-
ICE Heavy Commercial Vehicle
-
Battery Electric Vehicle
-
Hybrid Electric Vehicle
-
Plug-In Hybrid Electric Vehicle
-
Autonomous Vehicles
Automotive Software Market, By Region
-
North America
-
U.S.
-
Canada
-
Europe
-
U.K.
-
Germany
-
Asia Pacific
-
China
-
Japan
-
India
-
Latin America
-
Brazil
-
Mexico
-
Middle East & Africa (MEA)
Regional Analysis:
Geographically, the Asia Pacific region has by far emerged as the largest market for automotive software due to the growing demand for advanced software and systems among the people. Rapid technological advancement observed in this region is a major factor behind the growth in demand for automotive software. As people's acceptance of technological advances has increased, so has the demand for automotive software.
The automotive software market has also begun to show signs of expansion in North America. As a result, North America is anticipated to have tremendous demand over the projection period. Over the anticipated era, the presence of significant industry players and their quick research and development initiatives have emerged as key growth factors for the automotive software market.
Scope of the Report:
|
Report Coverage |
Details |
|
Page number |
350 |
|
Base year |
2021 |
|
Forecast period |
2020-2030 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 17.7% |
|
Market growth 2022-2030 |
US$ 110 Bn |
|
Market structure |
Fragmented |
|
Competitive landscape |
Leading companies, competitive strategies, consumer |
|
Companies profiled |
|
|
Customization purview |
If our report has not included the data that you are |
User
Tab Content
Introduction
Our market research is an extensive, iterative process that takes into account a combination of primary and secondary research tools with the aim of minimizing deviation and producing the most precise estimate and prediction. For the future course of action, this approach meticulously outlines the actual changes and industry trends. It gives incredibly valuable data that is drawn from the insights and opinions of analysts and professionals. Our papers include in-depth research and analysis based on several factual inputs obtained from expert interviews, accurate data, and local information.
Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
Avail 25% Discount
Report Benefits
-
Free Customization Available
-
30% discount on your next purchase
-
Dedicated account manager
-
Query resolution within 24 hours
-
Permission to print the report