AUTOMOTIVE SOFTWARE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In February 2022, TTTech Auto, a company specializing in automotive software, secured a US$ 285 million investment from Audi and APTIV. Aptiv plans to invest US$ 228 million, while Audi aims to increase its existing stake by US$ 57 million.
• In September 2021, Woven Planet Holdings, a subsidiary of Toyota Motor Corp., acquired Renovo Motors to enhance software development for autonomous vehicles
• In July 2021, Volvo is a Swedish multinational manufacturing company known for its production of trucks, buses, construction equipment, marine and industrial engines, and aerospace components revealed its plans to revamp its infotainment and data systems with a new in-house operating system, VolvoCars.OS, which will debut in future cars starting from 2022
• In February 2021, Volkswagen Group is a German multinational automotive manufacturing company headquartered in Wolfsburg, Germany. teamed up with Microsoft is a multinational technology company headquartered in Redmond, to expedite the development of automated driving. The collaboration between Volkswagen Group's Car Software Organisation and Microsoft aims to build an Automated Driving Platform for agile development of automated driving functions. Leveraging Microsoft Azure, the cloud-based platform will streamline development processes to bring automated driving solutions to the group.
• In February 2021, Bosch is a major supplier of automotive components and systems to automotive manufacturers worldwide. partnered with Microsoft to create a software-defined vehicle platform, aiming for smooth integration between cars and the cloud. This collaboration combines automotive and cloud computing know-how to influence the future of vehicle software.