finance news

Automotive Software Market latest Trends and New Technologies Research Forecast to 2025

New research report on Automotive Software market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Automotive Software market also includes an in-depth study of the industry's competitive scenario.

The vehicle & user interface designers are increasingly using automotive software and advanced technologies, such as VR and AR, to increase features in the cockpit of vehicles to provide a comfortable riding experience and become a market leader in the competitive automotive industry. The increasing use of automotive software with innovative technologies in the vehicle designing, fleet management, and customer satisfaction has increased the productivity and efficiency and reduced the cost of operation. The automotive software market is growing at a significant CAGR over the forecast period due to the growing demand for autonomous vehicles. For instance, in 2017, autonomous car sales were estimated to be 24.23 million units and is anticipated to reach 61.82 million units by 2024, growing at a CAGR of 14.4% between 2018 and 2024.

The increasing use of technological advancements to offer features such as ADAS, smart electric roof, cooled glove box, and walk away safety lock is proliferating the growth of the automotive software market. These advanced features have increased the number of electronic components in vehicles, leading to an increase in hardware and weight of vehicles. Automobile manufacturers are increasingly adopting consolidated ECUs to reduce the hardware space in the vehicles, increasing its efficiency.

Request Sample Copy of this Report @ https://www.cuereport.com/request-sample/42405

Automotive Software market is projected to surpass USD 52 billion by 2025. The automotive software market growth is attributed to the growing demand for safety, convenience, and comfort of passengers in vehicles. The in-vehicle infotainment in vehicles offers hands-free calling, music system, and navigation to passengers and drivers. This has increased the adoption of in-vehicle infotainment in low, medium, and premium segments, leading to the growth of the automotive software market. The subsequent government regulations related to safety & security concerns are also increasing the adoption of in-vehicle infotainment as it provides hands-free connected calls in vehicles. For instance, in Europe, from April 2018, all new cars will be equipped with e-call technology.

Automotive Software Market latest Trends and New Technologies Research Forecast to 2025
Automotive Software Market latest Trends and New Technologies Research Forecast to 2025

Request Sample Copy of this Report @ https://www.cuereport.com/request-sample/42405

The anti-lock braking system will witness a significant growth rate of more than 14% in the automotive software market from 2019 to 2025. The anti-lock braking system helps vehicles from sudden skidding and consequent road mishaps. According to the National Highway Traffic Safety Administration (NHTSA), ABS-equipped vehicles stop at an increased stopping distance on loose gravel by an average of 27.2% as compared to other vehicles. ABS has significantly reduced the risks of run-off road crashes and multiple vehicle crashes. For instance, in September 2015, ABS reduced the risk of run-off road crash by approximately 33% and the risk of multiple crashes by more than 20%.

The commercial vehicles in the automotive software market will grow at a CAGR of over 18% over the forecast period. The growth is attributed to the rising carsharing and the increasing use of public transport to reduce pollution. Stringent government regulations related to the green & clean environment along with the increasing awareness campaign for climate change is proliferating market growth. Additionally, the increasing number of autonomous trucks in logistics is attributing to the growth of the automotive software market. For instance, in 2016, trucking companies of the U.S. collected USD 260 billion in revenues, which is 20 % of the worldwide total of USD 1.2 trillion.

In the software segment, the vehicle management software held over 32% market share in the automotive software market in 2018. The vehicle management software includes fleet management, vehicle architecture designing, fuel management, and vehicle tracking, which has increased the operational efficiency of automobile manufacturers. The automotive driving software is expected to witness the highest growth rate of over 15% in the market during the forecast period. The increasing number of road mishaps and loss of lives related to it has increased the demand for automotive driving software. It assists drivers in parking, driving lane, and object recognition on the road, alerting drivers or reducing the speed of vehicles by auto braking to avoid collision or crash of vehicles.

The Auto Part wholesaler & agent grabs over 18% market share in the automotive software market in 2018 and is expected to maintain a dominant position during the forecast period. The growing demand for cheap auto parts related to hardware & software is proliferating this segment. The automobile industry strategically distributes its software & hardware through various distribution channels, including auto part wholesalers and agents, to increase its global presence. Additionally, the rising trend of customization of vehicles is attributing to the growth of this segment in the automotive software market.

Asia Pacific is estimated to be the fastest growing region in the automotive software market growing at a CAGR of more than 17% over the forecast period. Stringent government regulations related to environmental safety are impacting OEMs in the region to build fuel-efficient and low-carbon emission vehicles with the help of automotive software and electronic components. Highly-populated countries in this region, such as China and India, are facing traffic congestion and mishaps, impacting the growth of this software to provide predictive navigation, traffic details, and object recognition to avoid crashes or collisions. The emerging smart cities in this region are expected to drive the automotive software market.

Major Highlights from Table of contents are listed below for quick lookup into Automotive Software Market report

Chapter 1. Methodology and Scope

  • Definitions & forecast parameters
  • Methodology and forecast parameters
  • Data Sources

Chapter 2. Executive Summary

  • Business trends of Automotive Software Market
  • Product trends
  • Application trends

Chapter 3. Automotive Software Industry Insights

  • Automotive Software Market Industry segmentation
  • Industry landscape
  • Analysis of Manufacturers in the Automotive Software industry
  • Distribution channel analysis
  • End-use landscape
  • Vendor matrix
  • Automotive Software Market Technology & innovation landscape
  • Industry impact forces
  • Automotive Software Market Growth drivers
  • Industry pitfalls & challenges
  • Key trends by Segments

Chapter 4. Company Profiles

  • Business Overview of Automotive Software Market Companies
  • Financial Data
  • Product Landscape
  • Strategic Outlook and Decisive Analysis of companies in Automotive Software Market
  • SWOT Analysis

Request Customization on This Report @ https://www.cuereport.com/request-for-customization/42405

About the author

Market Study Report

Market Study Report, LLC. is a hub for market intelligence products and services.

We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place.

Our customers partner with Market Study Report, LLC. to ease their search and evaluation of market intelligence products and services and in turn focus on their company's core activities.

If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, LLC. is the platform that can help you in achieving any of these objectives.