According to a new market report published by Lucintel, the future of the global automotive software market looks promising with opportunities in passenger car, light commercial vehicle and heavy commercial vehicle segments. The global automotive software market is expected to grow with a CAGR of 17% from 2021 to 2026. The major drivers for this market are increase in number of electronic products in vehicles, increasing demand for connected cars and rising demands for electric vehicles.
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In this market, 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 and V2X system are the major applications to manufacture automotive software. On the basis of comprehensive research, Lucintel forecasts that connected services will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to the gained traction of connected and autonomous vehicle technologies and the increasing number of advanced services provided in connected cars, which is attributing to the growth of automotive software.
Within the global automotive software market, the passenger car segment is expected to witness the highest growth over the forecast period due to the vehicle safety mandates, rising demand for connected vehicles, increasing adoption of electrical & electronic components, continuous development in V2X technology, and fuel-efficient vehicles coupled with increasing stringency of emission norms.
APAC is expected to remain the largest market and witness the highest growth rate over the forecast period due to the rapid development of intelligent transport systems and connected mobility in countries such as China and Japan.
Emerging trends, which have a direct impact on the dynamics of the industry, include innovation of technologies for advanced UI, high demand for personal mobility and introduction of advanced driver assistance systems. Robert Bosch, NXP, Renesas Electronics, BlackBerry, NVIDIA, Airbiquity, Elektrobit, Green Hills Software, and Wind River Systems are among the major suppliers of the automotive software market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive software market by product type, application, vehicle type and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Automotive Software Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive software market by product type, application, vehicle type and region, as follows:
By Product Type [Value ($ Million) from 2015 to 2026]:
Operating System
Middleware
Application Software
By Application [Value ($ Million) from 2015 to 2026]:
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 Vehicle Type [Value ($ Million) from 2015 to 2026]:
Passenger Car
Light Commercial Vehicle
Heavy Commercial Vehicle
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.