A recent report published by Infinium Global Research on the automotive software market provides an in-depth analysis of segments and sub-segments in global as well as regional automotive software market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional automotive software market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global automotive software market. According to the report, the global automotive software market is projected to grow at a CAGR of 11.3% over the forecast period of 2018-2024.
Automotive software has been used in the auto industry for years. Software has helped the automotive industry to achieve many outstanding advancements. Use of Automotive software not only improved dashboard displays but also played a pivotal role in improving safety systems, infotainment, control systems, and many other car features. The use of automotive software in cars has allowed for more complex systems while increasing functionality without raising costs. Software has allowed for improved circuit analysis and behavioral modeling on a large scale for motors and other major systems.
The demand for automotive software is increasing on account increasing demand for advanced driver assistance system, high demand for automated and electrified vehicles and rising demand for vehicle application such as remote vehicle diagnostics, automatic crash notification, and emergency assistance. In addition, increased demand for premium cars has also resulted to boost the automotive software market. However, the increasing complexity in software architecture leads to higher production costs for OEMs & suppliers that act as a restraint for the market growth. Moreover, mandatory installation of the eCall systems and the installation of rear-view cameras in all vehicles, in order to reduce back-over accidents, will further boost the growth of the market in the near future.
Geographically, Europe dominated the automotive software market in 2017, in terms of revenue. Increased demand for advanced driver assistance systems in vehicles, particularly in European countries as well as the presence of established ICT infrastructure has led to the dominance of Europe in the automotive software market. Other regions such as the Asia-Pacific and North America are anticipated to grow at the significant CAGR, during the forecast period.
The report on global automotive software market covers segments such as vehicle type, product type, and application. On the basis of vehicle type the global automotive software market is categorized into a passenger vehicle, commercial vehicles, and electric vehicle. On the basis of product type, the global automotive software market is categorized into the operating system, middleware and application software. On the basis of application, the global automotive software market is categorized into a safety system, infotainment, and telematics, powertrain, and chassis.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global automotive software market such as Renesas Electronics, Texas Instruments, Microsoft Corporation, NXP Semiconductors, Adobe Systems, Wind River Systems Inc., Green Hills Software, MontaVista Software, LLC, Autonet Mobile, Inc., Google and Airbiquity.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global automotive software market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive software market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the automotive software market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the automotive software market to understand the present and future trends in this market and formulate their strategies accordingly.
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