Automotive Software Market to be Worth $32.3 Billion Globally with a CAGR of 7.8% by 2030, Marketsandmarkets Says

(MENAFN– GlobeNewsWire – Nasdaq) Delray Beach, FL, September 29, 2024 (GLOBE NEWSWIRE) — Automotive Software Sunday its size is projected to grow from $19.0 billion in 2023 to $32.3 billion by 2030, at a CAGR of 7.8% , According to the latest research by MarketsandMarketsTM. Increasing interest in software-defined tools With the increasing prevalence of ADAS features in vehicles, the demand for automotive software solutions is expected to increase. Also strong state Support for vehicle security is expected to drive revenue growth for the automotive software market, with increasing adoption of over-the-air software (SOTA) updates.

“Take an in-depth look at the Table of Contents” “Automotive Software Market”

206 – Tables
80 – Numbers
274 – Pages

Download PDF Brochure:

List of Notable Players Automotive Software Market:

Robert Bosch GmbH (Germany)

NXP Semiconductors (Netherlands)

NVIDIA Corporation (USA)

BlackBerry Limited (Canada)

Continental AG (Germany)

Drivers, Opportunities and Challenges Automotive Software Market:

Driver: Developments in infotainment systems

Restraint: Lack of standard protocols for automotive software systems

Opportunity: Advances in autonomous driving and software-defined vehicles

Challenge: Risk of Cyber Attack

Main Findings of the Research:

The ADAS and security systems segment is expected to witness a significant growth rate in the global automotive software market during the forecast period.

Application software segment expected to lead growth in automotive software market

Body control and comfort systems are expected to have significant growth opportunities in electric vehicles during the forecast period

The automotive software market in Asia Pacific is predicted to have the largest market share by 2030

Get Sample Pages:

The operating system segment is expected to hold a significant share in the global automotive software market

The operating system is expected to be a notable segment in the automotive software market as it keeps passengers and the driving environment safe while controlling the basic capabilities of the vehicle, making it the most important piece of software. Additionally, the automotive operating system market is expected to grow significantly with the increasing adoption of connected vehicle technologies. Therefore, the operating system (OS) plays a critical role in connected vehicles. The operating system provides the platform on which the telematics system will run and provides the features and functions that enable the vehicle to communicate with other devices and services.

The passenger vehicle segment is expected to have significant growth opportunities in the global automotive software market

The passenger car segment is expected to have significant growth opportunities in the automotive software market during the forecast period. This is due to the increasing adoption of ADAS features in passenger vehicles and the growing trend towards autonomous driving. In addition, the increase in demand for passenger cars in developing and developed countries also contributed to the growth of the automotive software market. For example, automobile production in China in 2022 was around 23.8 million units, while in Japan it was around 6.5 million units. South Korea produced approximately 3.4 million units; In India, it was around 4.4 million units in the same year. The demand for automotive software in the Asia Pacific region is expected to increase due to the emergence of autonomous driving, increasing vehicle production, and a significant increase in demand for premium services such as connected vehicle services and telematics. All these factors mentioned are expected to support revenue growth in the passenger car segment during the forecast period.

“Germany will lead the automotive software market in Europe”

Germany is expected to have a very large market among all European countries for automotive software. The most important factors supporting the growth of the automotive software market in Germany are the proliferation of premium passenger car brands with high-end software applications and government mandates regarding safety. High sales of premium vehicles such as Mercedes-Benz S-Class, BMW 7 Series, Mercedes-Benz G-Class, Audi A8 and Audi S8 are expected to drive the automotive software market in Germany during the forecast period.

Inquiry Before Purchasing:

Latest Developments:

In September 2023, Bosch exhibited Vehicle Dynamics Control 2.0 at IAA Mobility 2023. The software will provide easier handling and safety in cars by providing control over braking, electric powertrains and electric steering systems. This will lead to less counter steering with shorter braking distance.

In September 2023, NXP Semiconductors worked with Elektrobit to develop software for next-generation automotive BMS. This will reduce the entry-level cost of BMS development and the use of NXP’s high-voltage BMS design.

In May 2023, BlackBerry Limited demonstrated QNX Software Development Platform (SDP) 8.0. It will allow automakers to deliver more powerful software products at lower costs while maintaining the safety, security and reliability of QNX software.

In February 2022, Jaguar Land Rover partnered with NVIDIA Corporation to deliver next-generation ADAS and AI-powered services. In 2025, new Jaguar and Land Rover vehicles will be built on the NVIDIA DRIVE SDV platform and will provide active safety, autonomous driving and driver assistance systems.

Related Reports:

Automotive Cyber Security Market

V2X Cyber Security Market

Connected Vehicle Market CONTACT: About MarketsandMarketsTM MarketsandMarketsTM was recognized as one of America’s top management consulting firms, according to Forbes’ latest report. MarketsandMarketsTM is a blue ocean alternative in growth consulting and program management that leverages human-machine offering to drive extraordinary growth for progressive organizations in the B2B space. Having the broadest perspective on emerging technologies makes us capable of co-creating extraordinary growth for our customers. According to the research conducted by Forbes at the beginning of this year, we have officially transformed into one of the best management consultancy companies in America. The B2B economy is seeing the emergence of $25 trillion in new revenue streams replacing existing revenue streams in this decade alone. We work with our clients on growth programs and help them monetize this $25 trillion opportunity through our service lines (TAM Expansion, Go-To-Market (GTM) Strategy to Execution, Market Share Acquisition, Account Activation, and Thought Leadership Marketing). Based on the principle of ‘GIVE GROWTH’, we work with many Forbes Global 2000 B2B companies, helping them stay relevant in a disruptive ecosystem. Our insights and strategies are shaped by our industry experts, our cutting-edge AI-powered Market Intelligence Cloud, and years of research. Our KnowledgeStoreTM (Market Intelligence Cloud) integrates our research, facilitates analysis of interconnections through a set of applications, helping customers look at the entire ecosystem and understand the revenue shifts occurring in their industry. To learn more, visit TM.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets Inc. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445 USA: 1-888-600-6441 United Kingdom +44-800-368-9399 Email: … Visit Our Website:

MENAFN29092024004107003653ID1108727590

Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, please contact the provider above.