Service providers are constantly trying to find ways to improve accuracy, improve service, security, and evolve technology. The requirements for this reason are met through the use of automotive software as it is used to provide enhanced, continuous, free and timely services in industrial operations.
The global automotive software market is in a period of rapid growth due to the increasing demand for electrification of vehicles, resulting in the demand for automotive software. The company even launches new products to gain market share.
Bridge Market Research data analyzes that the automotive software market is expected to reach US$86,283.47 million in 2029, at a CAGR of 17.7% over the forecast period. Global Services is the largest segment of the automotive software market.
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Market For Automotive Software Report Scope and Market Segmentation
|
Report Metric |
Details |
|
Forecast Period |
2022 to 2029 |
|
Base Year |
2021 |
|
Historic Years |
2020 (Customizable to 2019 - 2014) |
|
Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
Automotive Software Market Forecast Dynamics
· Rise in Adoption of ADAS Features in Automobiles
· Rise in the Number of Connected Vehicles
· Rising Demand for Electric Vehicles
· Improper standard protocols for the development of software platforms
· Lack of Connectivity Infrastructures
· Need for High Maintenance of Software
Post COVID-19 Impact on Vehicle Software Market
COVID-19 has had a huge impact on the automotive software market as almost every country has decided to close all factories except those involved in manufacturing essential goods. The government has taken several decisive steps such as stopping the production and sale of basic necessities, blocking international trade and others to prevent the spread of COVID-19. The only businesses dealing with this pandemic situation are core services that are allowed to open and manage processes.
Global Automotive Software Market Scope
· Offering
· Organization Size
· Software Layer
· Vehicle Type
· EV Utility
· End-User
Automotive Software Market Forecast Regional Analysis/Insights
The countries covered in the automotive software market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of APAC in the APAC, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Competitive Landscape and Automotive Software Industry Share Analysis
Some of the major players operating in the automotive software market are
· LUXOFT
· A DXC TECHNOLOGY COMPANY
· Vector Informatik GmbH
· Sigma Software
· NVIDIA Corporation
· Aptiv
· Elektrobit
· KPIT
· NXP Semiconductors
· aiMotive
Research Methodology: Automotive Software Market Forecast
Base year data collection and analysis was carried out with the big data collection module. This phase involves obtaining market information or related data from various sources and strategies.
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Major TOC of The Automotive Software Industry
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