According to a report by P&S Intelligence, the global automotive software market is predicted to reach a value of $78,894.2 million by 2030, progressing at a 12.4% CAGR during the time period 2020–2030. The market is registering growth due to the rising research and development for autonomous driving, increasing requirement for connected cars, and emergence of innovative user interface technologies. The current COVID-19 outbreak through, is projected to have negative impact on the market, as various manufacturing facilities have been shut down.
When vehicle type is taken into consideration, the automotive software market is divided into commercial vehicle and passenger car. Between these two, the commercial vehicle division is expected to register the higher CAGR in the coming years, which can be attributed to the increasing requirement for telematics solutions and enhanced infotainment features for commercial vehicles.
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Geographically, Asia-Pacific is predicted to dominate the automotive software market in 2030. The demand for autonomous and electric vehicles in the region has been growing significantly, and these vehicles depend largely upon software. The region accounts for the largest share of the global electric vehicles market, with China leading the regional market. About 1.1 million plug-in electric cars were sold in China in 2019.
The major players in the automotive software market include Robert Bosch GmbH,Airbiquity Inc., NXP Semiconductors N.V., Renesas Electronics Corp., Microsoft Corp., BlackBerry Ltd., NVIDIA Corp., Green Hills Software LLC, Continental AG, Alphabet Inc., Intellias Ltd.,CloudMade, Connexion Telematics Ltd., Harman International Industries Inc.,GlobalLogic Inc., KaaIoT Technologies LLC, NORDSYS GmbH, SAP SE, Ignite Ltd., Elektrobit Automotive GmbH, Vector Informatik, Wind River Systems Inc., Apple Inc., Sigma Software Group,RightwareOy, Luxoft Holding Inc., AImotive Ltd., Autonet Mobile Inc., KPIT Technologies Ltd., and Saferide Technologies Ltd.
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