Global Automotive Software Market is expected to witness a CAGR of 18.25% in the forecast period in 2019-2026, resulting in a rise of its initial estimated value of USD 18.58 growing to a projected value of USD 71.03 billion by 2026. This rise in market value can be attributed to the innovations and advancements
Automotive software market research report acts as a great source of information with which businesses can get a telescopic view of the existing market trends, consumer’s demands and preferences, market situations, opportunities and market status. Moreover, the automotive software report also comprises of all the key market information including market definition, classifications, key developments, applications, and engagements. It describes thorough study of current situation of the global market along with several market dynamics. Detailing about the actions of key players with respect to product launches, joint ventures, developments, mergers and acquisitions and effects of the same in terms of sales, import, export, revenue and CAGR values is also conducted in the report.
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Key Market Competitors:
Few of the major competitors currently working in the automotive software market are
- Renesas Electronics Corporation,
- Vector Informatik GmbH,
- Wind River Systems Inc.,
- NXP Semiconductors,
And many more
Increased levels of demand for adoption of electronics in the vehicles requiring integration and operating systems for its usage
Increased levels of connected vehicles due to the prevalence of IoT
Absence of any set standard protocols for the development of products; this factor is expected to act as a restraint to the market growth
Lack of knowledge and expertise in repairing and maintaining the automotive software
Key Developments in the Market:
In June 2018, QNX Software Systems Limited announced that they had launched three new automotive software products that have been safety certified and will help overcome the challenge of complying with the ISO 26262 safety standard. The products, “QNX Hypervisor for Safety”, “QNX Platform for ADAS 2.0”, “QNX OS for Safety 2.0”.
In January 2017, QNX Software Systems Limited announced the launch of their most advanced and secure automotive operating system, “QNX Software Development Platform 7.0”.
Global automotive software market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive software market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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Advanced Driver Assistance Systems (ADAS) & Safety Systems
Body Control & Comfort Systems
By Vehicle Type
Light Commercial Vehicles
Heavy Commercial Vehicles
By Electric Vehicle
Plug-In Hybrid Electric Vehicle (PHEV)
Battery Electric Vehicle (BEV)
Hybrid Electric Vehicle (HEV)
Middle East & Africa
Rest of Middle East & Africa
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Key Insights in the report:
Complete and distinct analysis of the market drivers and restraints
Key market players involved in this industry
Detailed analysis of the market Segmentation
Competitive analysis of the key players involved
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