Automotive Software Market to Reach $43.5 Bn, Globally, by 2027 at 14.5% CAGR: … The technology has significantly reduced risks of road crashes in recent times. The Global Automotive Software Market is expected to grow from USD 18,987.56 Million in 2019 to USD 55,907.07 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 19.71%. On the basis of forecast analysis, Asia-Pacific is expected to maintain its lead during the forecast period, owing to rise in adoption of latest technologies and increased vehicle production & sales across Asia-Pacific. For instance, in 2017, Germany became the first country across the world to legalize the use of level 4 and 5 autonomous driving systems. Automotive software is a collected programmable data instruction used for performing operations of computer-based in-vehicle applications. The global Automotive Software market size was 8660 million US$ and it is expected to reach 18600 million US$ by the end of 2025, with a CAGR of 10.1% during 2020-2026. A. Start reading instantly.This title and over 12,000+ are available on the Avenue Library. For instance, in November 2018, AB Volvo partnered with Ericsson, a networking and telecommunications company, to provide Volvo customers with more connected digital services such as infotainment, navigation, automation, telematics and fleet management. The global microscope software market is projected to reach USD 1,021 million by 2025 from USD 567 million in 2020, at a CAGR of 12.5% between 2020 and 2025.. Automotive software is a set of instructions that helps the user interact with underlying in-vehicle hardware and also perform control functions in a vehicle. "Increasing Use of Electronic Content in Vehicles Aiding the Automotive Software Market Growth Positively" The automotive software market stood at US$ 16.24 Bn in 2017 and expected to grow at a CAGR of 19.2% during the forecast period from 2017 to 2026 and reach US$ 78.62 Bn in 2026. This statistic shows the size of the global automotive software market from 2018 to 2023. The report "Automotive Software Market by Application (ADAS & Safety, Connected Services, Autonomous Driving, HMI, V2X, Infotainment), Software Layer (OS, Middleware, Application), EV Application (Charging, Battery, V2G), Vehicle and Region - Global Forecast to 2025" The global automotive software market size is projected to grow from USD 16.9 billion in 2020 to USD 37.0 billion by 2025, at … However, the absence of a strong IoT and network infrastructure such as Wi-Fi, cloud and cellular technologies, are creating complexities in real-time control of the software, which can restrain the growth of the automotive software market. In this report, automotive software is a kind of software which is mainly used in the automotive and aftermarket sales. The automotive software can help companies and distributors to increase sales and margins, make smarter and faster inventory decisions and reduce returns etc. Automotive Software Market size is set to exceed USD 52 billion by 2025, says latest research report by Global Market Insights, Inc. based on industry segment covering Application (Engine Management System, ABS, Airbag Control, Car Navigation System, Music System, Mobility Service), Vehicle Type (Passenger, Commercial), and more. At present, vehicle manufacturers are inclined toward the safety of the passengers and hence their main focus is toward the introduction of better and advanced safety system in vehicles. The automotive industry is facing a sharp drop in demand and investment. (98 reviews) Save. Meanwhile, the infotainment and telematics based software are expected to witness significant growth during the forecast period owing to a better growth rate. The current automotive software market is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency. The emerging vehicle financing companies are encouraging the passenger vehicles industry by providing financial support in terms of loans to own the vehicle. Visit Website. This could lead to a direct long-term impact on the automotive industry too due to the macroeconomic trends, changing consumer behavior and regulatory developments. It focuses on the growing trend toward sensor fusion, automotive haptics, and adoption of the on-board vehicle health monitoring and diagnostic system. In addition, as automotive systems become more dependent on environmental and situational data being sent to and from the car to support the whole range of inbuilt automated safety features, there will be a need for increasing intelligence infrastructure. Software has grown in importance in the auto industry for several decades and its prominence continues to increase, thus prompting car OEMs to inevitably rely on the use of over-the-air (OTA) software updates. Under the partnership, Volvo will be able to offer digital connected vehicle services in more than 120 markets worldwide. This could lead to a direct long-term impact on the automotive industry too due to the macroeconomic trends, changing consumer behavior and regulatory developments. In addition, the report focuses on major obstacles and the latest growth plans adopted by leading companies in this business. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.–Analytical Tools: The Global Automotive Software Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The growing adoption of various advanced technologies, such as AI, VR, and machine learning, is transforming vehicles into software-driven devices. Therefore, increasing number of advanced services provided in connected cars is attributing to the growth of automotive software for connected services. The automotive industry is facing a sharp drop in demand and investment. Therefore, lack of connected infrastructure such as intelligent systems and other technologies, hinders the growth of the automotive software market.Growing developments in semi-autonomous and autonomous vehicles. – A Detailed study of business techniques for the development of the market-driving players. The application software segment is likely to account for the maximum share of the market in 2016. 3rd party software developers require well defined programming languages to efficiently develop complex software. The key growth startegies of automotive software industry players includes product launch, product development, acquisition, expansion followed by different mergers, and partnerships related in the field of software thus leading to the growth of the market. The market is supplemented by numerous developments carried out by the top software development companies such as Google, Microsoft and others, which has supplemented the market growth. The report offers valuation and analysis of the automotive software market on a global as well as regional level. In addition, some cities have also approved the operation of pilot fleets on private properties that offer suitable normal road traffic conditions. Technology has changed the face of the modern automotive industry. Automotive software market size from engine management system (EMS) segment held close to 20% of the global business share in 2018. This section includes analysis of top ten player’s operating in the industry along with their last three year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market. For instance, in January 2020, lighting and electronics major Hella and the U.S. start-up Oculii collaborated to develop high-performance software for ADAS and autonomous vehicles (AVs). This Market study provides comprehensive data that enhances the understanding, scope, and application of this report. Scores of automotive suppliers look to Warner Norcross + Judd for timely and cutting-edge advice. By product, it is divided into operating system, middleware, and application software. A. COVID-19 had an indirect impact on the automotive software market. Global Automotive Software Market is expected to witness a CAGR of 18.25% in the forecast period in 2019-2026, resulting in a rise of its initial estimated value of USD 18.58 growing to a projected value of USD 71.03 billion by 2026. In 2018, the automotive software market was valued at … Automotive Software Market Segmentation. Copyright © 2016 Paddock Publications, Inc. The new competitive developments in automotive software market includes the product launch and development followed by the introduction of advanced vehicle safety and security technologies. 5.1 Overview 5.2 Market Revenue, by Software (2014-2030) 5.2.1 ADAS and AD market revenue (2014-2030) Automotive Software Market Scope: For instance, microchip maker NVidia and car manufacturer Mercedes are planning to roll out software-defined autonomous vehicles by 2024. The global automotive software market was valued at $18.5 billion in 2019, and is projected to reach $43.5 billion by … Anti-lock braking system (ABS) helps ensure passenger and driver safety by preventing sudden skidding and consequent road accidents. The growth of the microscope software market is primarily attributed to a broad application base (since microscopes are widely used in a range of fields, such as semiconductor, life science/healthcare, aerospace, and … The service providers of automotive software industry are the different software vendors who are developing better and advanced vehicle software for vehicles thus propelling the growth of the global market. The latest report on ' Automotive Software market' now available at MarketStudyReport.com, delivers facts and numbers regarding the market size, geographical landscape and profit forecast of the ' Automotive Software market'. 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