The Automotive Software Global Market Report 2023, provides comprehensive information on the automotive software market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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https://www.thebusinessresearchcompany.com/report/automotive-software-global-market-report
According to The Business Research Company’s comprehensive analysis in their Automotive Software Global Market Report for 2023, the automotive software market is poised for significant expansion. In particular, it is projected to exhibit remarkable growth, with its market size forecasted to surge from $22.42 billion in 2022 to an impressive $26.15 billion in 2023, driven by a robust compound annual growth rate (CAGR) of 16.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. This upward trajectory is set to persist, with the automotive software market estimated to further ascend to a substantial $47.17 billion by 2027, demonstrating a consistently strong CAGR of 15.9%. This dynamic evolution underscores the automotive industry’s increasing reliance on cutting-edge software solutions to meet the demands of modern vehicles and their consumers.
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The automotive software market is currently witnessing a significant shift towards product innovation, marking a dominant trend in the industry. Leading companies operating in this sector have redirected their efforts towards crafting novel and pioneering solutions to cater to the ever-growing demands of their customers. Notably, in December 2021, the renowned German-based technological powerhouse, Robert Bosch, unveiled a potent computer system designed explicitly for the infotainment domain. This sophisticated system expedites the integration of an array of cutting-edge services into vehicles, encompassing in-car communication, in-car payment processing, seamless video streaming, voice-activated virtual assistants, and much more.
This groundbreaking venture harnesses Robert Bosch’s unparalleled proficiency in automotive software solutions and pairs it with their domain-specific hardware expertise, effectively merging forces with an extensive network of leading technology enterprises within the industry.
The automotive software market is segmented:
1) By Solution: Autopilot Software, Navigation Software, Entertainment Software, Car Safety Software
2) By Vehicle Type: Passenger Car, LCV (Light Commercial Vehicle), HCV (Heavy Commercial Vehicle)
3) By Software Layer: Operating System, Middleware, Application Software
4) By Application: ADAS (Advanced Driver Assistance Systems) And Safety Systems, Body Control And Comfort Systems, Powertrain Systems, Infotainment Systems, Communication Systems, Vehicle Management And Telematics, Connected Services, Autonomous Driving, HMI (Human-Machine Interface) Applications, Biometrics, Remote Monitoring, and V2X (Vehicle-To-Everything) Systems
Asia-Pacific was the largest region in the automotive software market in 2022.
The table of contents in TBRC’s automotive software market report includes:
1. Executive Summary
2. Automotive Software Market Characteristics
3. Automotive Software Market Trends And Strategies
4. Impact Of COVID-19
5. Automotive Software Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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