Automotive Software Management System market is expected to foresee significant growth. Asia-Pacific to lead the growth!
- Vikas Kumar
- February 1, 2022
- AUTOMOTIVE, NEWS
- Automotive Software Management System market, Automotive Software Management System market growth, Automotive Software Management System market share, Automotive Software Management System market size, Automotive Software Management System market trend
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Automotive Software Management System Market is expected to grow at a CAGR of around 12% during the forecast period 2021-2027. Increasing disposable income has improved lifestyle of individuals, the trend has increased the overall demand for personal passenger cars with high-end electronics. Overall adoption of advanced technologies is expected to be high in the passenger car segment, owing to the higher production and sales of passenger cars globally, compared to other vehicles. To add on, automotive manufacturers around the world are focusing more on luxury passenger vehicles equipped with advanced features such as advanced driver assistance systems, advanced infotainment systems, enhanced body control and comfort, among others. Additionally, the overall demand for automotive software is expected to increase owing the advent of technologies such as autonomous driving and Internet of Things.
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The pandemic caused significant economic and financial disruptions on automotive industry. : The COVID-19 pandemic and various infection control measures have made a great impact on the regular operation of global integrated circuit companies, which caused the “Chips shortage” Phenomenon in the automotive industry. Affected by both the COVID-19 and trade frictions, the industrial chain normality of the long-term tight supply and demand balance between upstream chip suppliers and downstream car manufacturers in the automotive industry was severely affected thus negatively impacting the market.
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Based on application, the automotive software management system market is categorized into ADAS & safety systems, body control & comfort system, powertrain system, infotainment system, vehicle management & telematics, and others. In 2020, ADAS & safety systems to witness strong demand during the forecast period. This can be mainly attributed to factors such as increased adoption of ADAS features in vehicles, increasing adoption of connected car services, and intervention of innovative technologies for advanced UI. Moreover, numerous companies are introducing advanced vehicle software to ensure safety and security of vehicle and the passengers. Thus, driving the category’s growth.
Based on vehicle type, the automotive software management system market is bifurcated into passenger vehicle and commercial vehicles. Among these, commercial vehicle category is expected to witness highest CAGR during the forecast period. The major drivers of the category’s include growing government mandate for deploying vehicle tracking in commercial vehicles and rising demand for smartphones supplements the adoption of telematics solutions and services.
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For a better understanding of the market, the report is analyzed based on different regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, South Korea, Rest of Asia-Pacific); and Rest of World. Asia-Pacific on account of growing adoption of electric vehicle is expected to foresee significant demand growth of automotive software Management System during the forecast period. China is estimated to produce more than 13 million battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV) by the end of FY2023, more than any other country globally. Some of the major players operating in the market include Robert Bosch, NXP Semiconductors, Renesas Electronics, NVIDIA, Continental, among others.
Automotive Software Management System Market Segmentation
Market Insight, by Application
- ADAS & Safety Systems
- Body Control & Comfort System
- Powertrain System
- Infotainment System
- Vehicle Management & Telematics
Market Insight, by Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Market Insight, by Software Layer
- Operating System
- Application software
Market Insight, by Region
- North America Automotive Software Management System Market
- Rest of North America
- Europe Automotive Software Management System Market
- Rest of Europe
- Asia-Pacific Automotive Software Management System Market
- South Korea
- Rest of Asia-Pacific
- Rest of World Automotive Software Management System Market
Top Company Profiles
- Robert Bosch
- NXP Semiconductors
- Renesas Electronics
- BlackBerry Limited
- Airbiquity Inc.
- Elektrobit Automotive GmbH
- Green Hills Software
- Intel Corporation
- Microsoft Corporation