Automotive Software Market Size to Grow by USD 12.75 Billion from 2022 to 2027 Growing Demand for Differentiated In-Car Experiences Drives Market, Technavio

NEW YORK, March 15, 2024 /PRNewswire/ — The Automotive software market The report has been added to the Technavio offer. With ISO 9001:2015 certification, Technavio has proudly worked with more than 100 Fortune 500 companies for over 16 years. The potential difference in growth for the automotive software market between 2022 and 2027 is 12.75 billion dollars.

Escalating demand for customized in-car experiences is driving market expansion, driving profound changes in the global automotive industry. Intense competition results from technological advances and increased integration of electronic components. Automotive OEMs are using cloud-based platforms to deliver digital services like telematics, accelerating the deployment of autonomous cars through cloud mapping integration. A unified cloud infrastructure facilitates various applications, including simulation tests and HD map generation, improving vehicle performance and scalability. Collaboration between OEMs and software vendors is intensifying to meet increasing technical demands. Such partnerships are poised to drive significant market growth in the foreseeable future.

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• Hacking and data security pose significant challenges that inhibit market growth.

The automotive software market is segmented by application (Safety System, Infotainment and Telematics, Powertrain and Chassis), product (Application Software, Middleware and Operating System), and geography (APAC, Europe, North America, South Americaand Middle East and Africa).

• The growth in market share by security systems segment will be significant during the forecast period. The automotive industry is witnessing an increasing demand for safety systems in vehicles due to legal requirements that require their installation. These regulations, often aimed at mitigating incidents such as rear-end crashes, are enforced by entities such as the National Highway Traffic Safety Administration (NHTSA) in the US. The growing emphasis on safety and convenience among vehicle consumers and regulatory authorities is driving the integration of advanced safety features into next-generation vehicles. Developed regions like North America and Europe have shown significant adoption of these security technologies, which is expected to generate increased demand for automotive security system software during the forecast period.
• APAC is estimated to account for 40% of the global market during the forecast period. The automotive software market in the APAC region is projected to experience faster growth compared to Europe and North America in the stipulated period. Despite the current lower adoption rates of advanced driver assistance systems (ADAS) and IVI systems, the market is expected to show strong expansion.

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Key companies:

Access Co. Ltd., Airbiquity Inc., Alphabet Inc., Bittium Corp., BlackBerry Ltd., Elinext IT Solutions Ltd., Green Hills Software LLC, Hitachi Ltd., Information Technologies Institute Intellias LLC, Intel Corp., KPIT Technologies Ltd. ., Microsoft Corp., NVIDIA Corp., NXP Semiconductors NV, Renesas Electronics Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schaeffler AG, Siemens AG and Sigma Software

Analyst review

The automotive software market is experiencing transformative change, driven by the increasing integration of computer applications and embedded systems into vehicles. This evolution encompasses a wide array of functionality that extends from body control and comfort features to communication applications and advanced safety systems. As technology advances, programmable instructions play a key role in enhancing the capabilities of in-vehicle software, facilitating tasks ranging from basic operations to complex communication protocols between cars.

in Asia Pacific region, where the automotive industry is on the rise, the adoption of 5G technology should revolutionize in-vehicle connectivity, paving the way for improved communication capabilities and sophisticated telematics systems. Companies like Vale are at the forefront, continuously innovating to deliver cutting-edge solutions in the automotive software landscape.

Within this dynamic market, segments such as ADAS and safety and connectivity are experiencing significant growth, fueled by a relentless focus on improving the safety of passenger and commercial vehicles and enabling seamless communication between vehicles and external networks. Competitive benchmarking, historical data analysis and accurate forecasts provide invaluable insights into market trends and dynamics, enabling stakeholders to make informed decisions.

Passenger cars and commercial vehicles alike benefit from advances in automotive software, with tailored solutions for different types of drivetrains, whether internal combustion engines or electric vehicles. Software applications cover a wide range of functionality, including infotainment systems, telematics and safety features such as ADAS, key to the development of autonomous vehicles.

Regional opportunities abound, especially in Asia Pacific and North America, where key companies fight for market share through innovation and strategic partnerships. In this competitive environment, understanding the nuances of each market segment and operating system is paramount to success.

As the automotive industry continues to evolve, the role of software in shaping the future of mobility is becoming increasingly prominent. With a focus on providing improved user experiences, improving safety standards and driving innovation, automotive software remains a cornerstone of modern vehicle development, facilitating the transition to a more connected, efficient and autonomous transport ecosystem.

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Market overview

The global automotive software market is experiencing a transformative shift, fueled by advances such as programmable instructions and in-vehicle computer applications. Embedded systems are revolutionizing functions such as body control, comfort and communication applications inside the vehicle. Moreover, with the advent of 5G technology, communication between cars is becoming more seamless and efficient. in Asia Pacific region, this market is particularly dynamic, with rapid adoption of automotive software solutions. From improving safety features to enabling sophisticated entertainment systems, automotive software plays a key role in shaping the future of transportation. As technology continues to evolve, the automotive software market is poised for further expansion and innovation, ushering in a new era of connected and intelligent vehicles.

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TOC:

1 Executive summary
2 Landscape
3 Sizing
4 Historical size
5 Five forces analysis
6 Segmentation
7 Customer landscape
8 Geographical landscape
9 Drivers, challenges and trends
10 The supplier landscape
11 Supplier analysis
12 Appendix

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