Pune, Feb. 14, 2023 (GLOBE NEWSWIRE) -- As per the MMR Research Analyst Ms Neha Nalwade, the total global market for Automotive Software was USD 240 Bn in 2021 and is expected to grow at 6.9 percent CAGR reaching 409 Bn by 2029.. Maximize Market Research firm, a global Automotive and Transportation research and consulting firm in India, has served more than 600 clients across the world since 2017.
Automotive Software Market Report Scope and Research Methodology
The objective of the report is to forecast the global Automotive Software Market based on segments, companies and regional distribution. The research is conducted by dividing the market into three major segments: vehicle type, application and software layer. These major segments of the Automotive Software Market were further divided into various sub-segments which helps understand the market structure easily. The report also includes regional insights with their market size. The bottom-up approach is used to estimate the Automotive Software Market size. The report includes a list of key players with an in-depth analysis of their market share, presence in the market and financial position.
To collect the data for the Automotive Software Market report, primary and secondary research methods were used. The data collected by using both methods were combined to make the report authentic and provide error-free findings. Primary data was collected by conducting interviews with experts from the automotive & IT industries and suppliers to obtain key inputs about the region-wise trends in the industry and specific companies. The key respondents include representatives from the manufacturing TIER 1, TIER 2 companies, and OEMs. The industry experts were also interviewed to validate the key findings. The secondary data was collected from the sources such as the China Association of Automobile Manufacturers (CAAM), secondary sources such as the International Organization of Motor Vehicle Manufacturers (OICA) and others. The report also includes a detailed list of the sources used for the secondary data collection.
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Automotive Software Market Overview
Automotive Software is a collection of programmable instructions that are used in performing several operations of computer-based in-vehicle applications. It is used to schedule appointments, digitally inspect vehicles and accept bookings. Automotive software is used for the embedded systems of vehicles. The software is used in applications such as body control, infotainment, comfort, and telematics. Safety and communication applications and Advanced Driver Assistance Systems (ADAS) are the others applications that use the automotive software.
Automotive Software Market Dynamics
The Automotive Software Market growth is majorly driven by the increasing number of connected cars. The increasing number of connected cars has generated new opportunities for the stakeholders in the industry. The rising advancements in 5G and AI technology are expected to drive the market during the forecast period. The increasing AI in the automotive sector and increasing awareness of it are expected to drive the Automotive Software Market in the future. However, the high costs of the infrastructure required for 5G and wireless connectivity are limiting the market growth.
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Automotive Software Market Regional Insights
During the forecast period, the Asia Pacific region is expected to hold the largest Automotive Software Market share. The regional market is driven by the increasing demand for connected services, particularly in China, Japan and South Korea. Compared to North America and Europe, the market size of the region is bigger due to the higher vehicle production even though the automotive software penetration is very low.
| Market Size in 2021 | USD 240 Bn. |
| Market Size in 2029 | USD 409.29 Bn. |
| CAGR | 12.8% (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 296 |
| No. of Tables | 116 |
| No. of Charts and Figures | 103 |
| Segment Covered | Vehicle Type, Application, Software Layer and End-User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Automotive Software Market Segmentation
By Vehicle type
- Passenger car
- LCV
- HCV
By Application
- ADAS & Safety Systems
- Body Control & Comfort System
- Powertrain System
- Infotainment System
- Communication System
- Vehicle Management & Telematics
- Connected Services
- Autonomous Driving
- HMI Application
- Biometrics
- Remote Monitoring
- V2X System
By Software layer
- Operating System
- Middleware
- Application software
Automotive Software Market Key Competitors include:
- ATEGO SYSTEMS INC. (PTC)(Myanmar)
- Autonet,(South Africa)
- Blackberry(Canada)
- Wind River(US)
- Microsoft(US)
- ACCESS, Broadcom(US)
- Google(US)
- Green Hills Software(US)
- MontaVista Software(US)
- Mentor Graphics(US)
- Airbiquity(US)
- Texas Instruments(US)
- Adobe Systems (Adobe).(US)
- PTC Inc.(US)
- NXP Semiconductors(Netherlands)
- Renesas Electronics(Japan)
- Dassault Systems(France)
- Intellias Ltd.(Ukraine)
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Key questions answered in the Automotive Software Market are:
- What is Automotive Software?
- What are the global trends in the Automotive Software Market?
- What are the upcoming industry applications and trends for the Automotive Software Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Automotive Software Market?
- What growth strategies are the players considering to increase their presence in Automotive Software Market?
- Who are the leading companies and what are their portfolios in Automotive Software Market?
- What are the major challenges that the Automotive Software Market could face in the future?
- Who held the largest market share in Automotive Software Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Vehicle Type, Application, Software layer and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Automotive and Transportation research firm, has also published the following reports:
Automotive Data Management Market - The market size is expected to reach USD 4 billion by 2027 at a CAGR of 20 percent during the forecast period. The market is expected to be driven by the increasing demand for modern technologies like artificial intelligence, automation and database management.
Robot Software Market - The market size is expected to reach USD 76.55 billion by 2029 at a CAGR of 27.3 percent during the forecast period. The market is expected to be driven by increasing adoption of technologies like the Industrial Internet of Things (IoT), which is important to the smart factory idea, as well as Industry 4.0 & industrial robots.
Supply Chain Management Software Market - The market size is expected to reach USD 53.2 billion by 2029 at a CAGR of 9.3 percent during the forecast period. The market is expected to be driven by the growth in the e-commerce industry and the integration of artificial intelligence to increase efficiency, tackle worker shortages and make transportation related data driven decisions.
Automotive Cloud Based Solutions Market - The market size is expected to reach USD 8.30 billion by 2029 at a CAGR of 11.57 percent during the forecast period. The market is expected to be driven by the increasing demand for advanced infotainment systems and increasing consumer disposable income.
Automotive Blockchain Market - The market size is expected to reach USD 4160.99 million by 2029 at a CAGR of 31.25 percent during the forecast period. The market is expected to be driven by the increasing focus on reducing data leaks and manipulations.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
