Global Automotive Software Market Introduction: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.
Automobile industry is entering into the ‘connected car’ zone and automotive software is at the helm of this concept. It develops a system which controls many ECU-based features of the automobile like sensors, haptics, etc. Furthermore, automotive software provides a risk assessment in order to prevent accidents. Aforementioned factors are driving forward the automotive software market globally.
Global Automotive Software Market Overview:Regionally, the market is bifurcated into Europe, North America, Asia Pacific and Latin America. Europe is likely to dominate the global market during the forecast period. One of the primary reasons for this dominance is the presence of key market players in this region. The Asia Pacific region is a huge market for the automotive industry and therefore it will open numerous opportunities for the automotive software market to flourish in the region.
Depending on the type of application, the market is segmented into advanced driver assistance system (ADAS) & safety systems, infotainment systems, telematics systems, communication systems, body control & comfort systems and powertrain. The communication system is anticipated to grow with a good CAGR during the forecast period. Automobile manufacturers are providing various high-performance protocols like Ethernet, CAN in their vehicles and the number of ECUs used are ever-increasing. These are the factors that drive the market further.
Based on the type of vehicle, the market is fragmented into passenger vehicle and commercial vehicle. Passenger vehicle is predicted to dominate the global market during the forecast period due to an ever-increasing demand for passenger vehicles with advanced features across the world. Depending on the type of Electric Vehicle (EV), the market is segmented into the plug-in hybrid electric vehicle (PHEV), battery electric vehicle (BEV), hybrid electric vehicle (HEV).
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Global Automotive Software Market Segmentation:1. By Region• Europe
• North America
• Asia Pacific
• Latin America
2. By Application• ADAS & Safety Systems
• Infotainment Systems
• Telematics System
• Communication Systems
• Body Control & Comfort Systems
3. By Vehicle • Passenger Vehicle
• Commercial Vehicle
4. By EV Type• Plug-In Hybrid Electric Vehicle (PHEV)
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
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Competitive Landscape:• NXP
• Green Hills Software
• Wind River
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
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