Global Automotive Software Market To Reach $ 29.3 Billion By 2026
FACTS AT A GLANCE
Editing: 15; Posted: June 2021
Executive pool: 38869
Companies: 247 – Players covered include Airbiquity, Inc .; Apple Inc .; API Aptiv; Bosch Software Innovations GmbH; Denso Corporation; Electrobite; ETAS; Google Inc .; Green Hills Software Inc .; Company intel; International Business Machines Corporation; Lectronix, Inc; Luxoft Global Operations GmbH; Lynx Software Technologies, Inc .; Microsoft Corporation; MSC software company; Nuance Communications, Inc .; NVIDIA Corporation; NXP Semiconductors NV; Oxbotica LTD; Tesla Motors Inc .; The MathWorks, Inc .; Vector Informatik GmbH; Wind River Systems, Inc et al.
Blanket: All major geographies and key segments
Segments: Product (application software, middleware, operating system); Application (security systems, infotainment and telematics, powertrain, other applications); End use (passenger cars, commercial vehicles)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Brazil; Mexico; Rest of Latin America; Rest of the world.
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Global Automotive Software Market To Reach $ 29.3 billion by 2026
Automotive software can be defined as any software, whether it is on-board software or firmware, which can activate several advanced products / applications in an automobile, thus helping to extend the benefits of use and l appeal of modern vehicles. Also referred to as software for on-board vehicle systems, automotive software covers programmable data instructions used to perform various tasks of on-board computer applications such as infotainment, telematics, communication, body control and comfort, the group powertrain, safety and advanced driving assistance. systems (ADAS). The growth of the global market is due to the increasing influx of emerging and advanced technologies in vehicle models to improve functionality, safety and driving experience. The incorporation of new features and the increasing use of connectivity services for communication and real-time data transfer are creating a high demand for automotive software solutions that provide high convenience and utility to customers. Global adoption of automotive software is also driven by stringent safety and fuel efficiency regulations coupled with the incorporation of electronics-based driving comfort and safety systems. Mandatory installation of electronic call systems and reversing cameras in all vehicles to reduce the risk of reversing accidents is sure to increase market growth.
In the midst of the COVID-19 crisis, the global automotive software market is estimated to be US $ 17.7 billion in 2020, is expected to reach a revised size of US $ 29.3 billion by 2026, with a CAGR of 8.9% over the analysis period. Application software, one of the segments analyzed in the report, is expected to grow at a CAGR of 9.7% to reach US $ 18.3 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Middleware segment is readjusted to a revised CAGR of 8.5% for the next 7 year period. This segment currently accounts for a 30.1% share of the global automotive software market. Application software is the software layer designed to help users run applications developed and defined by automotive manufacturers and incorporated into vehicles to perform single or multiple tasks. The growing integration of infotainment and telematics services is driving the demand for application software. Middleware is the software layer that resides between operating systems and application components. Middleware software manages application components that run on distributed hosts and primarily establishes communications between applications and the back end.
The US market is estimated at $ 2.4 billion in 2021, when China is expected to reach $ 7.4 billion by 2026
The automotive software market in the United States is estimated at 2.4 billion US dollars in 2021. The country currently represents a 13.28% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of 7.4 billion US dollars during the year 2026, with a CAGR of 10.4% throughout the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 6.7% and 7.6% respectively over the period of analysis. In Europe, Germany is expected to grow by around 8.2% CAGR while the rest of the European market (as defined in the study) will reach 8.3 billion US dollars at the end of the analysis period. Market growth in Asia Pacific region is driven by the growing adoption of connected mobility and intelligent transport systems. Market growth is also being driven by the enforcement of strict emissions regulations in countries like Japan, China and India, driving the adoption of automotive software for powertrain and engine management systems. Europe represents the second largest regional market and growth is driven by growing concerns about vehicle and driver safety as well as the resulting implementation of intelligent transport systems.
Operating system segment to be reached $ 4.2 billion by 2027
An operating system is software, composed of data and programs, that efficiently manages the hardware of automotive components and enables the execution of application software. The operating system functions as an intermediary between hardware components and application programs for hardware functions such as output / input and memory allocation. The growth of the operating systems segment is attributable to the implementation of sophisticated software in automobiles. In the global operating systems segment, United States, Canada, Japan, China and Europe will lead to the estimated 7% CAGR for this segment. These regional markets representing a combined market size of US $ 2.3 billion in 2020 will reach a projected size of US $ 3.7 billion before the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach US $ 495.9 million by 2026, while Latin America will increase at a CAGR of 7.7% throughout the analysis period. After
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