Home >> News >> Automotive Software Market Is Expected To Reach US$ 78.62 Bn in 2026 | Credence Research

Automotive Software Market Is Expected To Reach US$ 78.62 Bn in 2026 | Credence Research

According to a new market research report published by Acute Market Reports “Automotive Software Market – Growth, Future Prospects, and Competitive Analysis, 2018 – 2026”, the automotive software market was valued at US$ 16.24 Bn in 2017 and expected to reach US$ 78.62 Bn in 2026 growing at a CAGR of 19.2% during the forecast period from 2018 to 2026.

Market Insights

The automotive software market stood at US$ 16.24 Bn in 2017 and expected to grow at a compounded annual growth rate (CAGR) of 19.2% during the forecast period from 2017 to 2026 and reach US$ 78.62 Bn in 2026. With technological advancements, the automotive industry is transitioning from hardware to software-defined vehicles. In the coming years, the average software and electronics content per vehicle is expected to increase drastically. Innovations are happening in Advanced Driver Assistance Systems (ADAS), autonomous drive, vehicle electrification and digital cockpit technologies among others.

Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/automotive-software-market

Moreover, there are several trends impacting the automotive electronics which in turn is creating demand for computer platform requirements, highlighting the importance of security and functional safety and changing vehicle architectures. In addition, several workloads in the vehicle such as telematics, ADAS features and infotainment can all require connectivity outside the vehicle. Similarly, rising connectivity requirements will also increase the need for security requirements in vehicles, thereby facilitating the automotive software market growth. This can be understood from the fact that by 2020, it is expected that there will 250 million connected vehicles on the road.

Automotive software companies are actively involved in research and development activities in order to address market competition. For instance, in June 2018, three new safety-certified automotive software products were announced by BlackBerry QNX namely; QNX OS for Safety 2.0, QNX Hypervisor for Safety and QNX Platform for ADAS 2.0. That ease the challenges of creating sophisticated automotive systems to be compliant with ISO 26262. Similarly, Houndify by Sound Hound, Inc. was integrated into the latest infotainment system of Mercedes-Benz, i.e., Mercedes-Benz User Experience (MBUX). This will facilitate customized voice control with natural language understanding.

The Asia Pacific market expected to remain the most lucrative investment market for automotive software companies. The region headquarters some of the leading automobile companies such as Toyota, Hyundai, Honda, and Suzuki among others. This factor is further contributing to the automotive software market growth in the region. Moreover, countries in the region such as India, China, and other Southeast Asian countries have witnessed a high GDP growth in recent years. This would mean a higher net disposable income thereby spurring the demand for passenger cars. These factors in combination are expected to drive the automotive software market growth in the Asia Pacific region.

Access Free Sample Copy of Research Report: https://www.acutemarketreports.com/sample-request/59544

List of Companies Covered:

  • NXP
  • Renesas
  • Blackberry
  • Elektrobit
  • Microsoft
  • NVIDIA
  • Airbiquity
  • Green Hills Software
  • Wind River
  • Aricent, Inc.

Market Segmentation:

By Software Type

 • Autopilot Software

 • Navigation Software

 • Entertainment Software

 • Car Safety Software

 • Connectivity Software

 • Auto Mechanical Software

By Vehicle Type

 • Passenger Vehicle

 • Commercial Vehicle

 By Electric Vehicle Type

 • Battery Electric Vehicle (BEV)

 • Hybrid Electric Vehicle (HEV)

 • Plug-in Hybrid Electric Vehicle (PHEV)

By Geography Segment Type

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

Access Free Sample Copy of Research Report: https://www.acutemarketreports.com/sample-request/59544

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