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According to a new report Global Automotive Software Market, published by KBV research, The Global Automotive Software Market size is expected to reach $41.9 billion by 2026, rising at a market growth of 16.3% CAGR during the forecast period. 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.
The safety systems market has witnessed higher revenue share in 2019 owing to the introduction of modern safety system in vehicles. Moreover, The Infotainment & Telematics system would showcase prominent growth rate in the forecast period.
The application software is the major revenue generating segment in 2019, due to the huge adoption of software with different features in vehicles. The operating system segment showcases highest growth rate during the forecast period, due to the increased implementation of advanced software in vehicles.
The ICE passenger car counted for the major market share in 2019 due to the increased engine-based software installed in it. The autonomous vehicles are predicted to record a notable growth rate during the forecast period due to the introduction of autonomous vehicles (Level 3-5) in the near future.
In terms of revenue, Europe dominated the market in 2019. The North America market is estimated to grow at a CAGR of 16% during (2020 - 2026). Additionally, The Asia Pacific market would exhibit a CAGR of 16.8% during (2020 - 2026).
Structural Insights: https://www.kbvresearch.com/automotive-software-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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