0
2020
Automotive Software Market

Automotive Software Market

by Application (Safety System, Infotainment and Telematics, Powertrain and Chassis), Product (Operating System, Middleware and Application Software) and Vehicle Type (ICE Passenger Car, ICE Light Commercial Vehicle, ICE Heavy Commercial Vehicle, Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle and Autonomous Vehicles): Global Opportunity Analysis and Industry Forecast, 2020-2027
Update Available On-Demand

Report Code: A02536
Pages: 253
Nov 2020 | 14622 Views
Author(s) : Abhay Singh , Sonia Mutreja
Tables: 111
Charts: 70
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COVID-19

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Automotive Software Market Statistics - 2027

The global automotive software market was valued at $18.5 billion in 2019, and is projected to reach $43.5 billion by 2027, registering a CAGR of 14.5% from 2020 to 2027.     

The automotive industry is facing a sharp drop in demand and investment. Automotive OEMs and many mobility players have recorded some of the hardest hit in the automotive industry due to COVID-19. This could lead to a direct long-term impact on the automotive industry too due to the macroeconomic trends, changing consumer behavior and regulatory developments.

Automotive software is a collected programmable data instruction used for performing operations of computer-based in-vehicle applications. Automotive software also refers to the software used for in-vehicle embedded systems. Computer-based in-vehicle applications include telematics, infotainment, powertrain, body control and comfort, communication, advanced driver assistance systems (ADAS), and safety. The automotive industry is moving toward an era where cars will communicate with each other and to drivers. These advancements in technology have challenged automotive makers to incorporate automotive software solutions that will offer greater utility and convenience to their customers.

Automotive-Software-Market-2020-2027

The factors such as adoption of ADAS features in vehicles, increasing adoption of connected car services, and intervention of innovative technologies for advanced UI are expected to drive the market growth. However, lack of standard protocols to develop software platforms, lack of connected infrastructure, and troubleshooting and maintenance of automotive software hinders the market growth. Further, potential of 5G and AI, growing developments in semi-autonomous and autonomous vehicles and data monetization in extended automotive ecosystem are some of the factors that are expected to offer lucrative opportunities for automotive software market growth.

The global automotive software market is segmented on the basis of application, product, vehicle type and region. Based on application, it is classified into safety system, infotainment & telematics, powertrain and chassis. By product, it is divided into operating system, middleware, and application software. On the basis of vehicle type, it is categorized into ICE passenger car, ICE light commercial vehicle, ICE heavy commercial vehicle, battery electric vehicle, hybrid electric vehicle, plug-in hybrid electric vehicle and autonomous vehicles. North America, Europe, Asia-Pacific and LAMEA are the regions across which the global automotive software market report has been studied. 

Key players operating in the global automotive software market include Adobe Inc., Airbiquity Inc., Atego Systems Inc. (PTC), Autonet Mobile, Inc., Blackberry Limited, Goggle, Green Hills Software, Microsoft Corporation, Montavista Software, and Wind River Systems, Inc.

Adoption of ADAS features in vehicles

In recent years, the automotive industry has witnessed huge developments in self-driving car technology, and advanced driver assistance systems (ADAS) is one of the main components of the self-driving technology. In addition, rising demand for advanced safety features such as adaptive cruise control, autonomous emergency braking system coupled with increased government regulations to reduce road accidents, the major automotive OEMs are providing ADAS features into their next-generation vehicles. ADAS technologies have significantly reduced the complexity of driving, with features such as lane monitoring, emergency braking, stability controls, and others, which are primarily software-driven. Therefore, owing to adoption of ADAS features into next generation vehicles, many Tier 1 companies and OEMs are establishing partnerships with software development vendors for the development of advanced ADAS software. This in turn is boosting the growth of the automotive software market. For instance, in January 2020, lighting and electronics major Hella and the U.S. start-up Oculii collaborated to develop high-performance software for ADAS and autonomous vehicles (AVs).

Automotive Software Market
By Application

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Infotainment and Telematics is projected as the most lucrative segments

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Increasing adoption of connected car services

Connectivity has become a common feature for nearly every electronic device including automobiles. These services allow automotive dealers, fleet operators, and drivers to optimize resource usage, improve safety, and automate certain driver functions, while generating valuable data including vehicle performance and road conditions. The connected car services can be provided in a vehicle using embedded, integrated, cloud or tethered connectivity solutions. 

Many connected car services require software to perform their respective functions. This software provides assistance with configuring, managing, and monitoring internet of things (IoT) devices used in vehicles. In addition, the increase in the demand for connected car services is majorly due to the surge in concerns for safety & security, rise in the demand for an enhanced driving experience, and introduction of internet of things (IoT) in the automotive industry. Thus, owing to meeting the increasing demands, tier 1 manufactures are heavily investing to adopt these services into advanced vehicles. Therefore, increasing number of advanced services provided in connected cars is attributing to the growth of automotive software for connected services. For instance, in November 2018, AB Volvo partnered with Ericsson, a networking and telecommunications company, to provide Volvo customers with more connected digital services such as infotainment, navigation, automation, telematics and fleet management. Under the partnership, Volvo will be able to offer digital connected vehicle services in more than 120 markets worldwide. 

Automotive Software Market
By Product

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Operating System is projected as the most lucrative segments

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Lack of connected infrastructure

Technology has changed the face of the modern automotive industry. With the rise of cloud technology, artificial intelligence (AI) and the internet of things (IoT), vehicles are now relying more on software-controlled connected devices for the proper and more secure functioning of the vehicles. However, the absence of a strong IoT and network infrastructure such as Wi-Fi, cloud and cellular technologies, are creating complexities in real-time control of the software, which can restrain the growth of the automotive software market. 

In addition, as automotive systems become more dependent on environmental and situational data being sent to and from the car to support the whole range of inbuilt automated safety features, there will be a need for increasing intelligence infrastructure. Therefore, lack of connected infrastructure such as intelligent systems and other technologies, hinders the growth of the automotive software market.
Growing developments in semi-autonomous and autonomous vehicles

Automotive Software Market
By Vehicle Type

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Autonomous Vehicles is projected as the most lucrative segments

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Semi-autonomous and autonomous vehicles are largely dependent on software, and the increasing effort to deploy autonomous driving features is positively impacting the automotive software market growth. Several vehicle manufacturers such as BMW, Volvo, Ford and others, are integrating Level 1 and Level 2 autonomous technology in their vehicles; some models with Level 3 autonomy were also launched in 2019. 

Furthermore, many leading automotive OEM companies are engaged in R&D and testing activities for Level 4 and Level 5 autonomous vehicles, in different cities around the world. For instance, in 2017, Germany became the first country across the world to legalize the use of level 4 and 5 autonomous driving systems. In addition, some cities have also approved the operation of pilot fleets on private properties that offer suitable normal road traffic conditions. Therefore, such growing developments in semi-autonomous and autonomous vehicles are expected to offer opportunities for the growth of the automotive software market. For instance, microchip maker NVidia and car manufacturer Mercedes are planning to roll out software-defined autonomous vehicles by 2024. 

Automotive Software Market
By Region

2027
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific would exhibit the highest CAGR of 16.6% during 2020-2027.

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Covid Impact Analysis

  • The automotive industry is facing a sharp drop in demand and investment.
  • Automotive OEMs and many mobility players have recorded some of the hardest hit in the automotive industry due to COVID-19.
  • This could lead to a direct long-term impact on the automotive industry too due to the macroeconomic trends, changing consumer behavior and regulatory developments.
  • Industry participants might see short-term disruption to autonomous vehicles (AV) development and roll-outs which may create new opportunities for adoption of autonomous vehicles (AV) technology. 

Key Benefits For Stakeholders

  • This study presents the analytical depiction of the global automotive software market analysis along with the current trends and future estimations to depict imminent investment pockets.
  • The overall automotive software market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to the key drivers, restraints, and opportunities of the global automotive software market with a detailed impact analysis.
  • The current automotive software market is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Automotive Software Market Report Highlights

Aspects Details
By Application
  • SAFETY SYSTEM
  • INFOTAINMENT AND TELEMATICS
  • POWERTRAIN
  • CHASSIS
BY PRODUCT
  • Operating System
  • Middleware
  • Application Software
By Vehicle Type
  • ICE PASSENGER VEHICLE
  • ICE LIGHT COMMERCIAL VEHICLE
  • ICE HEAVY COMMERCIAL VEHICLE
  • BATTERY ELECTRIC VEHICLE
  • HYBRID ELECTRIC VEHICLE
  • PLUG IN HYBRID ELECTRIC VEHICLE
  • AUTONOMOUS VEHICLES
By Region
  • NORTH AMERICA  (U.S., Canada, Mexico)
  • Europe  (Germany, France, Italy, Spain, Rest of Europe)
  • Asia Pacific  (China, India, Japan, South Korea, Rest of Asia Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players ADOBE, AIRBIQUITY INC, ATEGO SYSTEMS INC. (PTC), AUTONET MOBILE, INC., BLACKBERRY LIMITED, GOOGLE (ALPHABET INC.), GREEN HILLS SOFTWARE, MICROSOFT CORPORATION, MONTAVISTA SOFTWARE, LLC, WIND RIVER SYSTEMS, INC
 

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Automotive software is a set of instructions that helps the user interact with underlying in-vehicle hardware and also perform control functions in a vehicle. It focuses on the growing trend toward sensor fusion, automotive haptics, and adoption of the on-board vehicle health monitoring and diagnostic system. Manufacturers of automotive infotainment systems are shifting toward the PC-like architectural concept, where the functionality of the system is dependent on the central processing unit.

The market is supplemented by numerous developments carried out by the top software development companies such as Google, Microsoft and others, which has supplemented the market growth. Moreover, technological advancements in vehicles and increased development toward the introduction of autonomous vehicles are expected to drive the automotive software market growth.

At present, vehicle manufacturers are inclined toward the safety of the passengers and hence their main focus is toward the introduction of better and advanced safety system in vehicles. Meanwhile, the infotainment and telematics based software are expected to witness significant growth during the forecast period owing to a better growth rate.

Factors such as increased adoption of ADAS features in vehicles, increasing adoption of connected car services, and intervention of innovative technologies for advanced UI are expected to drive the market growth. Based on these factors, numerous companies are introducing advanced vehicle software to ensure safety and security of vehicle and the passengers. Meanwhile, lack of standard protocols to develop software platforms, lack of connected infrastructure and troubleshooting & maintenance of automotive software is expected to hamper the growth of the market during the forecast period. However, potential of 5G and AI, growing developments in semi-autonomous and autonomous vehicles and data monetization in extended automotive ecosystem are expected to supplement the global automotive software market, thus providing a better opportunity for the growth of the market in the near future.

Among the analyzed regions, Europe is the highest revenue contributor, followed by Asia-Pacific, North America and LAMEA. On the basis of forecast analysis, Asia-Pacific is expected to maintain its lead during the forecast period, owing to rise in adoption of latest technologies and increased vehicle production & sales across Asia-Pacific.

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FREQUENTLY ASKED QUESTIONS?

A. COVID-19 had an indirect impact on the automotive software market. This is due to the lockdown imposed on countries across the globe which has halted the production and sales of vehicles and related components.

A. The global automotive software market was valued at $18.5 billion in 2019, and is projected to reach $43.5 billion by 2027, registering a CAGR of 14.5% from 2020 to 2027.

A. The report sample for global automotive software market report can be obtained on demand from the website.

A. The leading players of automotive software market includes Adobe Inc., Airbiquity Inc., Atego Systems Inc. (PTC), Autonet Mobile, Inc., Blackberry Limited, Goggle and others.

A. The company profiles of the top ten players of the automotive software market market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry along with their last three year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.

A. Europe is leading the global automotive software market presently. However, Asia-Pacific is expected to grow at lucrative rate over other regions.

A. The service providers of automotive software industry are the different software vendors who are developing better and advanced vehicle software for vehicles thus propelling the growth of the global market.

A. The key growth startegies of automotive software industry players includes product launch, product development, acquisition, expansion followed by different mergers, and partnerships related in the field of software thus leading to the growth of the market.

A. The new competitive developments in automotive software market includes the product launch and development followed by the introduction of advanced vehicle safety and security technologies.

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