The Europe Automotive Software Market would witness market growth of 15.6% CAGR during the forecast period (2020-2026). Automotive software is related specifically to automotive industry-specific products or services. The automotive software used in vehicles improved dashboard displays and also ensured the safety of the operator and the other passengers as well. The usage of automotive software in cars allowed more intricate systems while increasing functionality without any additional costs and it determined the proper operation of protection, controlling, and computerized systems that helped motor vehicles run more smoothly.
The Stringent regulations from the government for vehicle safety and collaborations of government authorities with the automotive software developers has resulted in the increased innovations in the technology market. The swift adoption of IoT and the increasing internet penetration will help drivers to visualize objects and obstacles on the road to avoid accidents and maintain a safe distance by notifying the drivers or applying the brake automatically. Upgrading the automobile infrastructure in Denmark, and Germany, increases the production and sales of cars all over the world. The speedy growing demand for automated and related vehicles, increasing the implementation of safety technologies in the driver service sector, increasing concern for driver and vehicle health, and increasing growth in this market are the main factors for the growth of this market.
The automotive software market demand is accredited to fast growth in the usage of electronic components to amplify various features of vehicles such as infotainment systems and ADAS. The rising automobile sector along with technological developments provides upgraded driving experience, increasing usage of electronic appliances in vehicles. With the increasing adoption of connected vehicles and government partners to construct infrastructure for connected vehicles, technologies like vehicle to infrastructure (V2I) and vehicle to vehicle (V2V) are growing the utilization of electronic products in automotive software.
Based on Product, the market is segmented into Application Software, Middleware and Operating System. Based on Application, the market is segmented into Safety System, Infotainment & Telematics, Powertrain and Chassis. Based on Vehicle Type, the market is segmented into ICE Passenger Car, ICE Light Commercial Vehicle, Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, ICE Heavy Commercial Vehicle, Hybrid Electric Vehicle and Autonomous Vehicles. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Automotive Software Market in Europe is expected to register a CAGR of 15.6% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, NVIDIA Corporation, Renesas Electronics Corporation, Microsoft Corporation, Intel Corporation, Adobe, Inc., BlackBerry Limited, PTC, Inc. (Atego Systems, Inc.), NXP Semiconductors N.V. and Airbiquity, Inc.
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