Asia-Pacific is to dominate Global Automotive Software Market till 2026
Rising demand for automated
and electric vehicles is expected to drive the demand for global automotive
software market in the forecast period.
According to TechSci Research report, “Global Automotive
Software Market By Vehicle Type (Passenger Car, Light Commercial Vehicle,
Medium and Heavy Commercial Vehicle) By Application (ADAS & Safety,
Connected Services, Autonomous Driving, HMI, V2X, Infotainment, Electric
Vehicle Charging Management, Electric Vehicle Battery Management, V2G) By
Software Layer (Operating System, Middleware, Application Software) By Company,
By Region, Forecast & Opportunities, 2026”, the global automotive
software market is expected to witness significant growth for the next five
years on account of increasing demand for vehicle applications such as remote
vehicle assistance, emergency assistance and automatic crash notification,
among others. To avoid back-over accidents in automobiles consumers are
installing rear-view camera and e-call systems connecting automobile functions
to software thereby fueling the growth of the market. Automotive software aids
in improving dashboard display and ensuring the safety of operator and
passengers. Integration of automotive software aids in increasing the
functionality of the automobiles without having any significant effect on cost
factor thereby considered a major driver for global automotive software market
growth. Automotive software also aids in maintaining operational controls and
providing protection to automobiles which ensures comfort level of drivers. It
majorly focuses on emerging trend of on-board vehicle health monitoring, sensor
fusion and diagnostic systems. Incorporation of large number of microprocessors
coupled with huge memory spaces in automobiles is aiding to growth of the
market. Growth in expenditure capacity by potential buyers is paving the way
for market growth. Usage of open-source platforms in automobiles and
standardization of product offerings has led to reduction in overall cost of
software development. Development of autonomous and semi-autonomous vehicles
and SOTA updates to reduce vehicle recalls is attributing to growth of
automotive software market opportunities. Also, data monetization in automotive
software system and huge potential in untapped markets is aiding to the market
growth.
However, lack of connected infrastructure and
maintenance of software may create hindrance in the global automotive software
market growth.
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Global
automotive software market is segmented into vehicle type, application,
software layer, region, and company. Based on software layer, market is further
categorised into operating system, middleware, and application software.
Application software is expected to dominate the market for the forecast
period, 2022-2026. Application software consists of diverse applications and
software layers which leads to execution of tasks based on set of application. Huge
adoption of software in automobiles to perform different functions of
automobiles is fueling the market growth of application software. It also
facilitates customization of the functions and architecture of the vehicles. Development
of technology to improve the commercial side of automotive software market is
influencing consumers as well as OEMs to put emphasis on software application
over the automobiles. Based on application, market is divided into ADAS &
safety, connected services, autonomous driving, HMI, V2X, infotainment,
electric vehicle charging management, electric vehicle battery management and V2G.
Infotainment segment followed closely by ADAS & safety segment is to hold
the major market share in the upcoming years. ADAS & safety helps in
building communication with features such as blind spot detection, lane
departure warning and others. Based on vehicle type, market is fragmented into passenger
car, light commercial vehicle, and medium and heavy commercial vehicle.
Passenger cars are expected to witness highest sale in the forecast period
owing to growing preference for single ownership, highly disposable income and
higher living standards is boosting the global automotive software market. Implementation
of technologies in passenger cars is positively impacting the growth for the
next five years.
Robert
Bosch GMBH, Intel Corporation, Wind River System, Green Hills Software,
Microsoft Corporation, Siemens Industry Software Inc., Aptiv Plc, KPIT Technologies,
NXP Semiconductor, Renesas Electronics are the leading players operating in global
automotive software market. Manufacturers are increasingly focusing on research
and development process to fuel higher growth in the market. To meet evolving
customer demand with respect to better efficiency and durability, several automotive
software manufacturers are coming up with their technologically advanced
offerings.
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“Advent
of new technologies comprising of artificial intelligence, IoT and roll-out of
5G technology is expected to create impact on the demand for automotive
software market. Preference shift towards connected cars for automation and
improve safety standards is influencing the market. Integration of automotive
software along with connected car technology to monitor, configure and analyze
automobile functions to increase efficiency of automobiles is expected to
foster the market growth till 2026” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Automotive
Software Market By Vehicle Type (Passenger Car, Light Commercial Vehicle,
Medium and Heavy Commercial Vehicle) By Application (ADAS & Safety,
Connected Services, Autonomous Driving, HMI, V2X, Infotainment, Electric
Vehicle Charging Management, Electric Vehicle Battery Management, V2G) By
Software Layer (Operating System, Middleware, Application Software) By Company,
By Region, Forecast & Opportunities, 2026” has
evaluated the future growth potential of global automotive software market and
provided statistics & information on market size, shares, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of global automotive
software market.
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