Pune, Feb. 05, 2024 (GLOBE NEWSWIRE) — The Automotive Software Market, as per the SNS Insider report, achieved a valuation of USD 24.02 billion in 2022. Projections indicate an anticipated growth, with the market expected to reach USD 81.57 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 16.51% during the forecast period from 2023 to 2030.

Market Overview
Automotive software plays a pivotal role in the modern automobile industry, transforming vehicles into sophisticated, interconnected machines. This software encompasses a wide range of applications, from advanced driver assistance systems (ADAS) and in-vehicle infotainment to engine control units and diagnostic tools. Essentially, automotive software serves as the technological backbone, optimizing performance, safety, and user experience.
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Market Analysis
The surge in consumer preference for connected vehicles is a primary catalyst propelling the growth of the automotive software market. Modern consumers seek seamless connectivity, real-time data access, and enhanced in-car experiences. As a result, automakers are increasingly integrating advanced software solutions to enable features such as navigation, entertainment, and vehicle-to-everything (V2X) communication. The global shift towards sustainable transportation is steering the automotive industry towards electrification. Electric vehicles rely heavily on software for battery management, energy efficiency optimization, and charging infrastructure integration. The growing adoption of EVs worldwide is contributing significantly to the expansion of the automotive software market. The advent of autonomous driving technologies has ushered in a new era for the automotive industry. To achieve higher levels of autonomy, vehicles require sophisticated software systems for perception, decision-making, and control. As automakers and technology companies invest heavily in developing self-driving capabilities, the demand for cutting-edge automotive software is on the rise.
Automotive Software Market Report Scope:

Report Attributes	Details
Market Size in 2022	USD 24.02 billion
Market Size by 2030	USD 81.57billion
CAGR	CAGR of 16.51% by 2023-2030
Market Opportunity	Deep learning, which is used to apply AI, is expected to increase at a faster rate than other automotive technologies Population growth Increasing the economy The expanding purchasing power of individuals in nations is allowing this market to expand significantly
Market Drivers	Automobile adoption of ADAS features The demand for autonomous and connected vehicle is steadily increasing Increasing the number of people who use driver assistance devices Concerns about driver and vehicle safety are mounting
Major Market Players	NVIDIA (US), Robert Bosch (Germany), Green Hills Software (US), Wind River Systems, Renesas Electronics (Japan), Airbiquity (US), Autonet Mobile, Inc. (USA), Elektrobit (US), and NXP (Netherlands), BlackBerry (Canada), and other key players.

Key Takeaway from Automotive Software Market Study

• The In-Situ TPO segment represents a groundbreaking approach to automotive software design, offering real-time capabilities and enhanced reliability. As vehicles become more sophisticated, the need for precise timing and communication between various components becomes paramount. In-Situ TPO addresses this demand by implementing a time-triggered mechanism, ensuring seamless coordination among different software modules.
• The Automotive segment itself is undergoing a transformative journey, emerging as a key player in the automotive software market. The proliferation of connected vehicles, electric powertrains, and advanced driver-assistance systems (ADAS) has propelled the demand for sophisticated software solutions. Automotive software is no longer limited to traditional engine control units but extends to encompass a wide array of applications, including infotainment systems, navigation, and cybersecurity measures.

Recent Developments

• Kerala-based Acsia Tech has forged a robust partnership with SOFAEE SIG, signaling a leap into the development of next-generation automotive software. This collaboration brings together the technological prowess of Acsia Tech and the innovative solutions offered by SOFAEE SIG, aiming to reshape the landscape of automotive software engineering.
• Acsia Tech, a key player in the software development arena, has embarked on an exciting venture by teaming up with AOX, a renowned German entity specializing in automotive software engineering. This strategic alliance marks a significant milestone for Acsia Tech, propelling it into the realm of cutting-edge automotive technology alongside one of Germany’s leading innovators.

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Market Dynamics Analysis
The automotive software market is experiencing dynamic shifts driven by a myriad of factors that shape its landscape. Among the key drivers propelling this sector forward is the incessant demand for advanced driver assistance systems (ADAS) and autonomous vehicles. The pursuit of enhanced safety, efficiency, and convenience has spurred the adoption of sophisticated software solutions designed to facilitate features like adaptive cruise control, lane departure warnings, and automated parking. Additionally, the increasing integration of connected technologies has given rise to the demand for infotainment and telematics systems, further boosting the automotive software market. Moreover, the rise of electric vehicles has created opportunities for innovative software solutions to optimize battery management, energy efficiency, and charging infrastructure.

However, alongside these drivers, the automotive software market faces its share of restraints and challenges. One significant restraint is the complexity of software integration within the diverse ecosystem of modern vehicles, often resulting in compatibility issues and potential system failures. The rapid pace of technological advancements also poses a challenge, as automotive software developers must constantly adapt to stay ahead, leading to increased development costs and potential delays. Moreover, concerns regarding cybersecurity in connected vehicles have emerged as a prominent challenge, demanding robust solutions to safeguard against potential threats such as hacking and unauthorized access.

Key Regional Developments
North America stands at the forefront of automotive software innovation, driven by the presence of major automotive OEMs and tech giants. The region’s emphasis on connected and autonomous vehicles has propelled the demand for advanced software solutions.  In Europe, the automotive software market is heavily influenced by stringent regulatory standards aimed at enhancing vehicle safety and reducing emissions. The region is witnessing a surge in demand for software solutions that enable compliance with Euro 7 emission standards and facilitate sustainable mobility.  The Asia-Pacific region is a key player in the market, driven by the rapid growth of emerging economies and a burgeoning middle class. Countries like China, Japan, and South Korea are witnessing substantial investments in electric and autonomous vehicle technologies.

Impact of Recession
The ongoing recession has undoubtedly cast a shadow over the automotive software market. Economic downturns typically lead to reduced consumer spending, impacting new vehicle sales. However, amidst the challenges, there are opportunities for the automotive software market. The focus on cost optimization may drive manufacturers to invest in software solutions that enhance operational efficiency, reduce maintenance costs, and improve overall vehicle performance. Additionally, the emphasis on sustainability and innovation may propel the adoption of software for electric and hybrid vehicles, offering a silver lining for the industry during these challenging times.

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TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Global Automotive Software Market Segmentation, by Application
8.1 ADAS & Safety Systems
8.2 Body Control & Comfort System
8.3 Remote Monitoring
8.4 Powertrain System
8.5 Communication System
8.6 Infotainment System
8.7 Biometrics
8.8 Vehicle Management & Telematics
8.9 Connected Services
8.10 Autonomous Driving
8.11 HMI Application
8.12 V2X System
9. Global Automotive Software Market Segmentation, by Software Layer
9.1 Operating System
9.2 Application software
9.3 Middleware
10. Global Automotive Software Market Segmentation, by Solution
10.1 Autopilot Software
10.2 Navigation Software
10.3 Car safety Software
10.4 Entertainment Software
11. Global Automotive Software Market Segmentation, by Vehicle type
11.1 Passenger car (PC)
11.2 Heavy commercial vehicle (HCV)
11.3 Light commercial vehicle (LCV)
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.5 USA
12.2.6 Canada
12.2.7 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.5 Poland
12.3.1.6 Romania
12.3.1.7 Turkey
12.3.1.8 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.4 Germany
12.3.2.5 France
12.3.2.6 UK
12.3.2.7 Italy
12.3.2.8 Spain
12.3.2.9 Netherlands
12.3.2.10 Switzerland
12.3.2.11 Austria
12.3.2.12 Rest of Western Europe
12.4 Asia-Pacific
12.4.5 China
12.4.6 India
12.4.7 Japan
12.4.8 South Korea
12.4.9 Vietnam
12.4.10 Singapore
12.4.11 Australia
12.4.12 Rest of Asia-Pacific
12.5 Middle East & Africa
12.5.1 Middle East
12.5.1.5 UAE
12.5.1.6 Egypt
12.5.1.7 Saudi Arabia
12.5.1.8 Qatar
12.5.1.9 Rest of Middle East
12.5.2 Africa
12.5.2.5 Nigeria
12.5.2.6 South Africa
12.5.2.7 Rest of Africa
12.6 Latin America
12.6.5 Brazil
12.6.6 Argentina
12.6.7 Colombia
12.6.8 Rest of Latin America
13. Company Profiles
13.1 Robert Bosch GmbH
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Green Hills Software (US)
13.3 Wind River Systems
13.4 Renesas Electronics (Japan)
13.5 Airbiquity (US)
13.6 BlackBerry (Canada)
13.7 NVIDIA (US)
13.8 Autonet Mobile, Inc. (USA)
13.9 Elektrobit (US)
13.10 NXP (Netherlands)
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share analysis
14.3 Recent Developments
15. Conclusion

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