Automotive Software Market To Record Double-Digit Growth Of 8.43% By 2032

Zion Market Research has published a new report titled “Automotive Software Market by Electric Vehicle (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV)), By Vehicle Type (Passenger Vehicles, Commercial Vehicles, and Heavy Commercial Vehicles) By Application (ADAS & Safety Systems, Body Control & Comfort Systems, Powertrain Systems, Infotainment Systems, and Communication Systems & Telematics Systems) Global Industry Perspective, Comprehensive Analysis and Forecast, 2024 – 2032.” According to the report, the market for the automotive software market was valued USD 19.34 Billion in 2023 and is projected to hit USD 40.08 Billion by 2032, with a compound annual growth rate (CAGR) of 8.43% during the forecast period 2024-2032.

Browse the full “Automotive Software Market - By Electric Vehicle (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), and Plug-In Hybrid Electric Vehicle (PHEV)), By Vehicle Type (Passenger Vehicles, Commercial Vehicles, and Heavy Commercial Vehicles) By Application (ADAS & Safety Systems, Body Control & Comfort Systems, Powertrain Systems, Infotainment Systems, and Communication Systems & Telematics Systems): Global Industry Perspective, Comprehensive Analysis and Forecast, 2024 – 2032” Report at https://www.zionmarketresearch.com/report/automotive-software-market

Automotive software is embedded software and is intended to augment and support the user experience of effectively operating a vehicle.

The market for automotive software is anticipated to witness significant growth in the anticipated period. The demand is subjected to rise due to the growing trend towards automotive haptic, sensor fusion, along with the adoption of an on-board vehicle health monitoring system. Rising focus on research and development activities by the major players in the market for autonomous and connected vehicles along with rising use of electronic gadgets are expected to propel the market for automotive software over the forecast period. The factors that are expected to drive the growth of the market are standardization of product offerings and open-source platforms. This reduces the cost of application and development. The market is also expected to be supported by the rising demand for automotive, embedded with advanced driver assistance systems.

Furthermore, the rising use and installation of rearview cameras as a safety feature for parking and reducing accidents while back-over along with the installation of eCall systems is likely to boost the market growth in the estimated time frame. However, the rising complexity in software architecture has led to higher production costs for OEMs & suppliers, which might hinder market growth in the long run. Nevertheless, the system engineering approach will help in overcoming the complexity in the software architecture, thereby offering new growth avenues for the market over the forthcoming years.

The market for automotive software is segmented into an electric vehicle, vehicle type and application. The application segment is further bifurcated into body control & comfort systems, ADAS & safety systems, infotainment systems, powertrain systems, communication systems, and telematics systems. Communication systems are anticipated to witness substantial growth in the forecast timeframe. With the advancement in technology and vehicles being launched with pre-installed software for communication between components in vehicles is anticipated to propel market growth for the communication system. Also, with the rising use of ECUs and electronically operated systems, along with high-performance protocols such as CAN, LIN, MOST, and FlexRay in the vehicles, the market is anticipated to grow considerably in the long run.

On the basis of region, Asia Pacific is expected to have a substantial share in the automotive software market during the forecast period. The growth in the region is due to the rapid growth observed in developing economies such as India and China. Moreover, in the recent past, the region has emerged as the hub of automotive production. The OEMs are offering advanced features such as keyless entry, auto-park assist, and HMI. This has generated a demand for advanced software automotive systems. Additionally, the governments in the region are about to introduce and implement stringent environmental regulations, which is expected to make OEMs to make changes in their designs by 2020. This is expected to fuel market growth in the Asia Pacific region.

Major market players operating in the automotive software market are BlackBerry, NXP, Elektrobit, Renesas, Microsoft, NVIDIA, Green Hills Software, Airbiquity, and Wind River, among others.

The report segments the automotive software market as follows:

Global Automotive Software Market: Electric Vehicle Segment Analysis

• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Electric Vehicle (PHEV)

Global Automotive Software Market: Vehicle Type Segment Analysis

• Passenger Vehicles
• Commercial Vehicles
• Heavy Commercial Vehicles

Global Automotive Software Market: Application Segment Analysis

• ADAS & Safety Systems
• Body Control & Comfort Systems
• Powertrain Systems
• Infotainment Systems
• Communication Systems
• Telematics Systems

Global Automotive Software Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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