The market demand is attributed to rapid growth in the use of electronic components to enhance various features of vehicles such as ADAS and infotainment systems. Owing to this, several vehicle manufacturers are offering this technology in their automobiles, in order to update the vehicle’s software from time to time. What was the automotive software market size in 2019? The automotive software market players are adopting the growth strategy of partnerships. However, it will not experience as much decline as that of automotive industry, primarily due to still on-going demand for electric vehicles and rising demand for ADAS features in new vehicles. The commercial vehicles have also gained traction due to the increased environmental awareness among consumers to reduce carbon footprints. Software platforms for autos are growing rapidly and have had a profound impact on the whole auto software industry with more expected in the next decade and beyond. The vehicle management software is expected to hold a market share of over 30% by 2025 owing to an increase in the demand to reduce road fatalities occurring due to human errors. The rise of autonomous vehicles will cause a tectonic shift in the mobility industry―and incumbents must evolve along with it. In recent years, players in the industry have taken several strategic measures, such as partnerships, in order to stay ahead of their competitors. The autonomous driving software segment is expected to grow at a rate of around 18% to 2025 led by increasing demand for convenient & safe driving practices. The automotive software and E/E component market will grow rapidly, with significant segment-level variation driven … The region also has a favorable regulatory framework for self-driving vehicles, which has allowed companies to conduct tests on autonomous vehicles. We also take pride in our commitment to quality and strive to ensure that our clients get their moneys worth. Get more details on this report - Request Free Sample PDF. Stringent government regulations related to vehicle safety and collaboration of government authorities with automotive software developers are expected to accelerate innovations in the technology market. Automotive Software Industry to Grow by $10.7 Billion During 2020-2024 - Segmentation by Product, Region and Vendor News provided by. 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. Intellias offers automotive software development expertise backed by years of experience with automotive technologies and robust software engineering services to help automotive companies get in the fast lane to the future of mobility. Furthermore, the region is the largest adopter of electric vehicles, with China being the largest market. zenon is an end-to-end automotive industry software, supporting everything from component supply to the delivery of new vehicles. © 2020 Prescient & Strategic Intelligence Private Limited. Furthermore, several companies are taking up R&D activities, in order to deploy autonomous cars, which are largely dependent on software. Comprehensive software offers improved functionality in a variety of products and provides better value to customers; same is being witnessed in the automotive industry. This year’s event will have a special focus on the development and engineering of electric and autonomous vehicles. Reporting and analytics tasks can be managed with its features like CRM register, stock report, registration system, purchase/ sale return, vehicle allotment system, … The report will be delivered in PDF format along with printing rights and detailed Excel sheet. Since the 1990s software has become an integral part of the automotive industry. The automotive dealers are using this software to optimize the supply chain and inventory management to reduce the operational cost. The rapid adoption of IoT and the rising internet penetration will help drivers to visualize objects and obstacles & other vehicles on the road to avoid collision and maintain a safe distance by either alerting the driver or applying the brake automatically. Automotive Dealerships and auto shops are streamlining their working with custom automotive management software. Such technologies help in reducing traffic rule violations, in turn, causing a decline in the road accidents and enhancing the driver experience. The on-demand ride-hailing service applications offer an automated driving experience to a selected passenger segment in the U.S. The engine management system (EMS) application held an automotive software market share of 25% impelled by growing need to improve vehicle performance and efficiency. GMI stands by its commitment to service, providing timely assistance in both pre-sales and post-sales support for our clients. From a single sensor to an entire organization. The emerging vehicle financing companies are encouraging the passenger vehicles industry by providing financial support in terms of loans to own the vehicle. They’re aiming to establish industry-wide collaboration standards and solidify clear roles for in-vehicle software development, which is in all players’ interests. Technologies such as ADAS, automatic braking, and lane assist significantly enhance the driving experience, making it safer than ever. The vehicle management software provides vehicle self-diagnosis, fuel management, driver fatigue management, and accident tracking, helping passengers to keep track of vehicles. The passenger vehicle segment in the automotive software market accounted for 80% revenue share in 2018 due to an increase in the demand for luxury, comfort, and convenience. (98 reviews) Save. Software in the Automotive Industry The transformation of vehicles from machines to software-driven products is changing drastically our ideas of vehicles and future mobility. Automotive Software Market size estimated at USD 18 billion in 2018 and is poised to register gains at over 15% between 2019 and 2025. The International Automotive Task Force (IATF) 16949:2016 is a quality management system (QMS) for the automotive industry. The automotive software industry will advance the fastest in the development function. Alternative Fuels Data Center (AFDC), American Automobile Association (AAA), American Public Transportation Association (APTA), Australian Bureau of Statistics (ABS), Bloomberg New Energy Finance (BNEF), California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA), China Association of Automobile Manufacturers (CAAM) Note: Above listed references and organizations are partial; the detailed and complete list is available in the final report. The rapid adoption of IoT and the rising internet penet… Such factors are boosting the popularity of connected cars, thereby driving the automotive software market. The global automotive industry has been reaping unlimited benefits by implementing automobile industry software. The growing adoption of various advanced technologies, such as AI, VR, and machine learning, is transforming vehicles into software-driven devices. Car design software for the automotive industry Learn about the future of car design and how virtual reality (VR), generative design, and real-time clay modeling work together to enhance the design process. Prescient & Strategic Intelligence Private Limited (also known as P&S Intelligence) was born out of the idea of helping businesses achieve breakthroughs through intelligent decision making, underpinned by a thorough understanding of industry dynamics. As vehicles are becoming more dependent on software, as they are on mechanical systems, the notion of updating the vehicle’s systems, using over-the-air (OTA) technology, is attaining momentum. Vehicle manufacturers are incorporating IoT-based technologies, which is helping them achieve pathbreaking results pertaining to connectivity solutions used in connected cars. The global automotive software market is fragmented in nature, with the existence of market players such as NXP Semiconductors N.V., Robert Bosch GmbH, Airbiquity Inc., Renesas Electronics Corp., BlackBerry Ltd., and Microsoft Corp. Clients can access reports, presentations, raw data excel sheets as well as detailed company profiles. The automotive industry is facing a sharp drop in demand and investment. Software is increasingly used to improve the vehicles’ performance, safety, and environmental compatibility. The automotive industry is largely aware of its challenges, and traditional players (the potential clients of pure-play software companies) are working on solutions, to some extent. The launching of autonomous cars is likely to boost the demand for automotive software. The government authorities are making stringent regulation related to fuel emissions, fueling the adoption of EMS. 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