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Automotive Software Market: Quantitative Market Analysis, Current and Future Trends

Press Release   •   Jan 04, 2018 05:27 EST

Automotive software denotes a software, (or embedded software or firmware) that is related particularly to automotive industry specific products or services. The automotive industry, if considered an economy, will be the sixth largest economy in the world. Since the 1990s software has become an integral part of the automotive industry. The cost of an electric embedded system represents around 25 to 30 percent of the total cost of the car.

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The cost is equally shared among electronic and software components. Advancements in technology have led to the incorporation of a number of microprocessors with increased memory space into the automobiles. For instance, in 2004, an embedded electronic system in a Volkswagen Phaeton comprised of 10,000 electrical devices, 61 microprocessors, three controller area networks, and one multimedia bus.

The integration of these systems requires software support. This is one of the reasons the global automotive software market has been gaining traction in the recent past and is likely to grow at a significant pace during the forecast period.

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The use of open-source platforms and standardization of product offerings has resulted in reduced cost of application and firmware development, thereby augmenting the overall market for automotive software market. The consumers as well as OEMs are gradually increasing their focus on automotive infotainment systems and these manufacturers are contending based on the software or Operating System that is used in these systems.

The global automotive software market is segmented on the basis of product type, vehicle type, application, and geography. By product type, the market is segregated into operating system, middleware, and application software. The application software segment is likely to account for the maximum share of the market in 2016.

The growing demand of infotainment as well as telematics services around the globe is likely to be the key factor fuelling the growth of the market segment in the coming years. In terms of vehicle type, the market can be divided into passenger vehicles, commercial vehicles, and electric vehicles. The passenger vehicles segment accounted for the maximum market share of the market in 2016 owing to high demand for passenger vehicles around the globe.

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In terms of geography, the global automotive solenoid market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is likely to dominate the global market during the forecast period. Factors including huge growth prospects for automobiles having advanced driver assistance systems in this region as well as the presence of an established ICT infrastructure, is set to fuel the growth of the automotive software market in the region during the forecast period.

Key players operating in the global automotive software market include Autonet, Blackberry, Wind River, Microsoft, Mobile, ACCESS, Broadcom, Google, Green Hills Software, MontaVista Software, Mentor Graphics, Airbiquity, NXP Semiconductors, Renesas Electronics, Texas Instruments, and Adobe Systems (Adobe).

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