Product Launch (Blog)

Jul, 27 2023

How are Software Developing Automotive Industry?

Software development is revolutionizing the automotive industry by enabling advanced features and capabilities. Software plays a crucial role in enhancing safety, efficiency, and user experience, from driver assistance systems to autonomous driving. It enables real-time data processing, connectivity, and integration with sensors and actuators. The software enables over-the-air updates, allowing vehicles to receive new features and improvements remotely. Additionally, software development facilitates vehicle diagnostics, maintenance, and optimization. Overall, software drives innovation in the automotive industry, transforming vehicles into intelligent, connected, and autonomous machines.

According to Data Bridge Market Research, the Automotive Software Market is expected to reach USD 86,283.47 million by 2029. The market is expected to grow with a CAGR of 17.7% in the forecast period of 2022 to 2029.

“Rise in demand for automotive software in the aerospace industry drives the market’s growth”

The automotive software market is experiencing growth due to the rising adoption of Advanced Driver Assistance Systems (ADAS) features in automobiles. ADAS features, such as adaptive cruise control, lane departure warning, and automatic emergency braking, enhance vehicle safety and improve the driving experience. As automotive manufacturers strive to meet increasing safety standards and consumer demands, integrating advanced software solutions becomes essential. The demand for automotive software is driven by the need for efficient data processing, connectivity, and software algorithms to support the functionality of ADAS features, contributing to market growth.

What restraints the growth of the automotive software market?

“High maintenance requirements restraints the market’s growth”

The growth of the automotive software market is restrained by the high maintenance requirements associated with software systems. As vehicles become increasingly complex and connected, the software that supports their operations requires regular updates, bug fixes, and security patches. The maintenance process involves significant costs and resources, impacting the market's overall growth. Addressing these maintenance concerns is crucial for the sustained growth and success of the automotive software market.

Segmentation: Automotive Software Market

The automotive software market is segmented on the basis of offering, organization size, software layer, EV utility, vehicle type and end-user.

  • On the basis of offering, the automotive software market has been segmented into solutions and services.
  • On the basis of organization size, the automotive software market has been segmented into large scale organizations, medium scale organizations and small scale organizations.
  • On the basis of software layer, the automotive software market has been segmented into operating systems, middleware and application software.
  • On the basis of EV utility, the automotive software market has been segmented into charging management, battery management and V2G.
  • On the basis of vehicle type, the automotive software market has been segmented into passenger cars, Electric Vehicles, light commercial vehicles and heavy duty vehicles.
  • On the basis of end-user, the automotive software market has been segmented into ADAS and safety systems, communication systems, infotainment systems, engine management and powertrain, vehicle management and telematics, body control and comfort system, autonomous driving, HMI application, and others.

Regional Insights: Asia-Pacific dominates the automotive software market

Asia-Pacific is likely to be the fastest-growing global automotive software market. The dominance of the market can be attributed to the increasing infrastructure, commercial, and industrial developments in emerging countries like China, Japan, India, and South Korea. In the Asia-Pacific region, China stands out as it focuses on repairing and enhancing the existing infrastructure, including bridges, highways, sewage systems, and tunnels. This progress is facilitated by adopting diverse machine control equipment such as excavators, paving systems, and dozers.

To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-automotive-software-market

Recent Developments

  • In January 2022, Aptiv has recently revealed a partnership with Sophia Velastegui to accelerate the development of mobility software technologies. The collaboration will harness their respective expertise in artificial intelligence (AI) to drive product advancements. This strategic alliance will enable Aptiv to enhance its product portfolio, fostering commercialization and expansion opportunities.
  • In June 2019, Alphabet Inc. made a significant move by acquiring Looker for USD 2.6 billion. This strategic acquisition has empowered the company to enhance its platform offerings in business intelligence, data applications, and embedded analytics. By integrating Looker's capabilities, Alphabet Inc. has enabled its customers to drive digital transformation and make informed data-driven decisions. The acquisition strengthens the company's position in the market and expands its ability to deliver comprehensive solutions to meet the evolving needs of businesses.

The Prominent Key Players Operating in the Automotive Software Market Include:

  • LUXOFT, A DXC TECHNOLOGY COMPANY (U.S.)
  • Vector Informatik GmbH (Germany)
  • Sigma Software (Ukraine)
  • NVIDIA Corporation (U.S.)
  • Aptiv (U.S.)
  • Elektrobit (Germany)
  • KPIT (India)
  • NXP Semiconductors (Netherlands)
  • aiMotive (Hungary)
  • Siemens (Germany)
  • Intellias (Ukraine)
  • Hexagon AB (Sweden)
  • OXBOTICA (U.K.)
  • Lynx Software Technologies (U.S.)
  • Renesas Electronics Corporation (Japan)
  • Intel Corporation (U.S.)
  • Blackberry Limited (Canada)
  • Airbiquity Inc. (U.S.)
  • Green Hills Software (U.S.)
  • Robert Bosch GmbH (Germany)
  • Wind River Systems, Inc. (U.S.)
  • Alphabet Inc. (U.S.)
  • Autonet Mobile, Inc. (U.S.)
  • MONTAVISTA SOFTWARE LLC (U.S.)

Above are the key players covered in the report, to know about more and exhaustive list of automotive software market companies contact, https://www.databridgemarketresearch.com/contact

Research Methodology: Global Automotive Software Market

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.


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