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

The Automotive Software Market is estimated to be valued at USD 16.08 Bn in 2024 and is expected to reach USD 37.68 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 12.9% from 2024 to 2031.

The automotive software market is witnessing significant growth globally driven by the increasing utilization of electronics and software in modern vehicles. Automakers are increasingly focusing on developing technologically advanced and connected vehicles integrated with various software solutions to enhance safety, convenience, and overall driving experience. Sophisticated driver-assistance systems, advanced infotainment systems, telematics solutions are some key areas seeing extensive application of automotive software. Furthermore, the growing autonomous vehicles landscape is propelling research and development of self-driving software technology. The rising demand for customizable in-vehicle experience from customers is also prompting automakers to extensively integrate software solutions. Overall, the automotive software market is poised to grow substantially in the coming years on the back of continued digital transformation of the automotive industry.

Market Dynamics:

The automotive software market growth is driven by factors such as the increasing demand for advanced driver-assistance systems (ADAS), focus on enhancing safety, and the development of self-driving vehicles. However, high costs associated with software development and testing and the lack of standardized processes are some challenges hampering the demand to an extent. The growing trend towards over-the-air technology presents significant opportunities in the market. Automakers are increasingly investing in improving cybersecurity measures to detect vulnerabilities in advanced vehicle systems and protect software from unauthorized access.

Key features of the study:

• This report provides an in-depth analysis of the global automotive software market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global automotive software market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include ATEGO SYSTEMS INC., Autonet, Blackberry, Wind River, Microsoft, ACCESS, Broadcom, Google, Green Hills Software, MontaVista Software, Mentor Graphics, Airbiquity, Texas Instruments, Adobe Systems, PTC Inc., NXP Semiconductors, Renesas Electronics, Dassault Systems, and Intellias Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global automotive software market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global automotive software market.

Market Segmentation

• By Vehicle Type
  • Passenger car
  • LCV
  • HCV
•  By Software Layer
  • Operating System
  • Middleware
  • Application software
•  By EV Application
  • Charging Management
  • Battery Management
  • V2G
•  By Offering
  • Solutions
  • Services
•  By Application
  • ADAS & Safety Systems
  • Body Control & Comfort System
  • Powertrain System
  • Infotainment System
  • Communication System
  • Vehicle Management & Telematics
  • Connected Services
  • Autonomous Driving
  • HMI Application
  • Biometrics
  • Remote Monitoring
  • V2X System
•  By Organization Size
  • Large Scale Organizations
  • Medium Scale Organization
  • Small Scale Organization
• By Regional
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Key Players

• ATEGO SYSTEMS INC.
• Autonet
• Blackberry
• Wind River
• Microsoft
• ACCESS, Broadcom
• Google
• Green Hills Software
• MontaVista Software
• Mentor Graphics
• Airbiquity
• Texas Instruments
• Adobe Systems
• PTC Inc.
• NXP Semiconductors
• Renesas Electronics
• Dassault Systems
• Intellias Ltd.