The size of automotive software market was registered at USD 18 billion in the year 2018 and is anticipated to cross USD 52 billion by 2025. Between the period 2019-2025, the market is expected to register a CAGR of 15%, as per the research by Global Market Insights Inc.
Growing automobile sales coupled with the increasing penetration of software in vehicles has led to the global automotive software market emerging as a lucrative hotspot worldwide. Today, the incorporation of automotive software components in any given automobile is rather commonplace, providing a positive impetus to the overall automotive software market outlook.
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Over the past decade, the automobile has evolved from a mechanical & electrical set-up to a sophisticated software-driven machine. The discipline of automotive software development is further slated to make the vehicle of the future easier & more enjoyable to drive while making the ride safer for the drivers. Moreover, owing to significant advancements in automotive Artificial Intelligence and the Internet of Things (IoT), automobiles of the future are projected to become smarter and more connected.
Autonomous driving technology holds the potential of completely transforming the global automotive industry. A number of automotive software companies are increasingly making significant inroads in the field of self-driving, wherein vehicle drivers aren’t required to take control of the steering to drive the vehicle, which would be further elevating automotive software market outlook to new heights.
While there have been substantial developments in autonomous driving, owing to the unforeseen nature of the technology, there are no laws that dictate & regulate the use of fully-automated vehicles across the world. According to the Union of Concerned Scientists, the benefits of this novel and rapidly updating technology are still largely undiscovered as it has yet to witness widespread deployment.
However, the technology’s potential, such as significantly improving road safety and making transport more accessible, is estimated to bring in substantial growth opportunities to the global automotive software market contenders. Indeed, the Victoria Transport Policy Institute predicts that automated driving would be replacing most of human driving by 2030. As per estimates, autonomous driving software market is projected to record a CAGR of 17% by 2025.
The automotive infotainment technology has witnessed significant advancements in recent years, wherein it has transformed into the vehicle’s centralized controlling unit which could control several vehicular features such as selecting driving modes, ride suspension and select a radio station or pick up an incoming call on your cellphone.
The sub-segment of the in-vehicle infotainment system, owing to growing customer demands, is further slated to become a common feature of a majority of automobiles in the forthcoming years. In fact, according to Intel, driven by the demand for more features the overall share of an in-vehicle infotainment industry is slated to reach a considerable billion-dollar remuneration by 2022.
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Some Point from Table of Contents:
Chapter 5. Automotive Software Market, By Software
5.1. Key trends, by software
5.2. Autonomous driving software
5.2.1. Autonomous driving software market estimates and forecast, 2014-2025
5.3. Safety & security software
5.3.1. Safety & security software market estimates and forecast, 2014-2025
5.4. Vehicle management software
5.4.1. Vehicle management software market estimates and forecast, 2014-2025
5.5. Infotainment software
5.5.1. Infotainment software market estimates and forecast, 2014-2025
Chapter 6. Automotive Software Market, By Application
6.1. Key trends, by application
6.2. Engine Management System (EMS)
6.2.1. Engine management system market estimates and forecast, 2014-2025
6.3. Anti-locking braking system (ABS)
6.3.1. Anti-locking braking system (ABS) market estimates and forecast, 2014-2025
6.4. Airbag Control
6.4.1. Airbag control market estimates and forecast, 2014-2025
6.5. Car Navigation System
6.5.1. Car navigation system market estimates and forecast, 2014-2025
6.6. Infotainment System
6.6.1. Infotainment system market estimates and forecast, 2014-2025
6.7. Mobility Service
6.7.1. Mobility service market estimates and forecast, 2014-2025
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