Global Market Insights added Most up-to-date research on “Automotive Software Market: Global Industry Share, Trends and Forecast, 2019 – 2025″ to its huge collection of research reports.
This Research study on the Global Automotive Software Market offers detailed and insightful information on major regional markets and related sub-markets.
The automotive software market growth is attributed to the emerging automotive landscape, growing demand for safe, efficient, and convenient driving experience, increasing internet penetration, and rising adoption of connected vehicles. In addition, the rising technical advancements, such as AI, blockchain, and AR, and increasing global internet penetration are expected to upgrade the automotive software, which will improve fuel-efficiency, infotainment, functional safety, and streamlined key entry. Automakers and technology giants, such as Audi, BMW, Ford, Google, General Motors, Tesla, Volkswagen, and Volvo, are working on developing their own automotive software. In contrary, consolidation of ECUs and the lack of standard protocols to develop software platforms may adversely affect the overall growth of the automotive software market. Maintenance & troubleshooting of automotive software and cybersecurity threats can create challenges for automotive manufacturers. Moreover, the demand for automotive software is expected to increase significantly over the forecast timeline owing to the growth of the overall automotive industry.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/3214
The autonomous driving software segment is projected to register an accelerated growth in the automotive software market during the forecast timeline growing at a CAGR of around 17%. The growth is attributed to investments and R&D activities done by companies such as Bosch Software, Wipro, and NVIDIA. In addition, these companies are also taking efforts to expand and emerge with other companies to design & develop autonomous vehicles. For instance, in August 2018, Genesys signed a Memorandum of Understanding (MoU) with Wipro to tap opportunities in the autonomous car industry. As per the MoU, Genesys will develop HD Maps & Content while Wipro will develop the navigational & control technology for autonomous systems and smart mobility companies. Also, in November 2018, Bosch and Daimler partnered to run a test program for automated on-demand ride-hailing service. The on-demand ride-hailing service app would offer an automated driving experience to a selected user community.
Industry impact forces:
- Growth drivers
Increase in number of electronic products in vehicles
Increasing investment in auto-tech and autonomous vehicles
Increasing demand for connected cars
Intervention of innovative technologies for advanced user interface
- Industry Pitfalls and Challenges
Maintenance and troubleshooting of automotive software
Consolidation of ECUs and lack of standard protocols to develop software platforms
Cybersecurity threats
The mobility service segment in automotive software market is anticipated to exhibit a lucrative growth at a CAGR of over 19% between 2019 and 2025. The increasing adoption of Mobility-as-a-Service (MaaS) is expected to influence the mobility service application market significantly. In addition, companies such as General Motors, Ford, and Delphi are taking their leap into this market by making huge investments to develop fully-automated cars, which may further explain the growth of this segment. For instance, in October 2018, Cruise Automation, a self-driving unit of General Motors, teamed up with Honda to pursue the shared goal of transforming mobility through the large-scale deployment of autonomous vehicle technology. According to General Motors, “Honda will contribute approximately USD 2 billion over 12 years to these initiatives, which, together with a USD 750 million equity investment in Cruise, brings its total commitment of the project to USD 2.75 billion. In addition to the recently announced SoftBank investments, this transaction brings the post-money valuation of Cruise to USD 14.6 billion.”
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/3214
The passenger vehicles segment shows a promising growth rate during the forecast period. This segment has a wide area of application for automotive software as compared to commercial vehicles. Passenger vehicles with various in-vehicle electronics systems, such as power steering, powertrain, and start-stop systems, contain numerous ECUs that need software programs to work. The trend of integrating smart technologies in passenger vehicles is increasing the number of in-vehicle electronics systems, increasing the number of ECUs, expanding the opportunities for automotive software in the passenger vehicles segment.
The manufacturer retail store segment shows the highest growth rate during the forecast period. This segment is influenced by the increasing consumer expectations and dealership franchise dynamics. In addition, the increasing vehicle pricing transparency and consumers, who are equipped to make product comparisons easily are affecting the profit margins of dealers significantly. Therefore, offering the range of automotive software solutions in terms of customization may cure the decreasing profit margins of automotive dealers up to a certain level.
The Asia Pacific automotive software market is expected to register the highest growth with a CAGR of around 18% between 2019 and 2025. This growth can be attributed to the presence of emerging countries (such as China and India), leading manufacturers, and significantly large consumption markets in the region. In addition, the infrastructural development and growing industrialization in emerging economies are creating opportunities for automotive OEMs.
The companies operating in the global automotive software market are focusing on technology innovations, strategic acquisitions, and mergers to strengthen their market position and acquire new customers. For instance, in January 2018, Bosch acquired a 5% indirect ownership stake from HERE Technologies, a global provider of digital mapping & location services. The acquisition is expected to help Bosch in becoming a global provider of data-based real-time location services to customers both inside and outside the automotive industry.
Some of the key players operating in the market are Cox Automotive, CDK Global, SAP, Siemens PLM Software, Nvidia, Bosch Software, Reynolds and Reynolds Company, Dassault Systèmes,, Autodesk, Solera Holdings, Oracle, Ansys Inc., Dealertrack, Wipro Limited, Honda, Genesys, Daimler, Delphi, Ford, and General Motors.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: [email protected]