Global Automotive Software Market was valued US$ 17.0Bn in 2017 and expected to reach US$ 62.0Bn in 2026, at CAGR of 17.56% during forecast period.
Software is the numberâ€one decisive competitive factor in the global automotive industry. Innovations, for instance, driverâ€assistance systems and energyâ€efficient driving require complex solutions with complex software functionality. Automotive IT, computer and electronics are quickly changing. Multimodal mobility is connecting before separated domains such as cars and public transportation. A modern car has 50 to 120 embedded microcontrollers and is connected above various external interfaces to a variety of cloud and infotainment technologies.
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The major driving factor of the automotive software market is increasingly choosing cars on the basis of not only their engine or design but also their ecological footprint and software apps. Automotive software innovations are fuelled primarily by information technology. Softwareâ€driven solutions have already opened the market to new players with strong IT backgrounds teaming up with or challenging recognized car manufacturers. Developing automotive software is challenging for the reason that it connects embedded software with big IT systems, itâ€™s developed in a global context in distributed teams, and it has one of the shortest cycle times of all industries.
Passenger vehicle segment has boosted the sales of the automotive software market throughout July 2017 posting a high double-digit growth of 15.12%. Passenger vehicles are equipped with modern electronic content that is being installed with different software. It is driving the global automotive software market for the passenger vehicle segment. The mid-size segment of this vehicle type is the key contributor to the growth of passenger vehicle segment. Generally, the sales of mid-size passenger vehicle have increased in the last decade
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Safety system segment is dominating the global automotive software market. Increasing demand for safety features in cars due to the introduction of severe norms that make their installation mandatory in automobiles is likely to encourage the growth of this segment.
Region-wise, Europe is likely to lead the global market during the forecast period. Factors including huge growth prospects for automobiles having advanced driver assistance systems in Europe as well as the presence of an established ICT infrastructure is set to fuel the growth of the global automotive software market in the region during the forecast period.
Key players operating in the global automotive software market, 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).
Scope of the Global Automotive Software Market
Global Automotive Software Market, Product
Global Automotive Software Market, Vehicle type
Global Automotive Software Market, Application
Global Automotive Software Market, Region
Middle East and Africa
Key players operating in the Global Automotive Software Market
Green Hills Software
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Adobe Systems (Adobe).