The North America Software-defined Vehicle Market would witness market growth of 10.0% CAGR during the forecast period (2023-2030).
Consumers seek vehicles with advanced infotainment, driver assistance, and convenience features. SDVs cater to these demands by offering various software-driven amenities, from voice recognition to entertainment systems. Consumers expect intuitive infotainment systems that provide access to apps, navigation, media streaming, and voice-activated controls. SDVs offer the platform for these advanced systems. Drivers and passengers desire seamless connectivity with their smartphones and the internet while on the move. SDVs provide this connectivity through features like Apple CarPlay, Android Auto, and in-car Wi-Fi. Voice-activated virtual assistants are in high demand. Consumers appreciate the convenience of using natural language commands to control various aspects of their vehicles.
The ability to control smart home devices from the vehicle is becoming increasingly important. Consumers expect their vehicles to be part of their connected ecosystem. Digital instrument clusters and heads-up displays have become popular, allowing for customizable and dynamic displays that provide essential information. Consumers expect to access their contacts, messages, music, and apps from the vehicle's interface. Connected vehicles feature built-in connectivity options, such as 4G and 5G cellular networks, Wi-Fi, and Bluetooth. This connectivity allows vehicles to exchange real-time data with other vehicles, infrastructure, and the cloud. Connected vehicles can collect data on vehicle health and usage patterns. This data is used to predict maintenance needs and optimize vehicle reliability. Electric vehicles (EVs) rely on connected charging stations that provide real-time data on charging station availability, pricing, and payment options. This connectivity is crucial for EV adoption.
As per International Trade Administration, Mexico City is the world's fifth most populous city, with 21 million people and 33.4 million vehicles. In 2018, Mexico recorded a 68 percent increase in EV sales, and hybrid vehicle sales surpassed 17,800 units compared to 2017. 955,393 electric and hybrid vehicles were sold in 2019 from January through September. As Mexico continues to embrace the opportunities provided by advancements in connectivity, the SDV is likely to see increased adoption and innovation. In Mexico, connectivity allows automakers to deliver software updates to vehicles remotely. Due to these aspects, the market will grow across the North America region in upcoming years.
The US market dominated the North America Software-defined Vehicle Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $91,506.9 million by 2030. The Canada market is showcasing a CAGR of 12.4% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 11.5% during (2023 - 2030).
Based on Offering, the market is segmented into Hardware, Software, and Services. Based on Application, the market is segmented into ADAS/HAD, Powertrain & Chassis, Infotainment, Connectivity & Security, and Body & Energy. Based on Vehicle Type, the market is segmented into ICE, BEV, and HEV/PHEV. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Software-defined Vehicle Market is Predict to reach USD 510.4 Billion by 2030, at a CAGR of 10.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Continental AG, Valeo SA, Aptiv PLC, Marelli Holdings Co., Ltd., Tesla, Inc., NVIDIA Corporation, Volkswagen AG, Harman International Industries, Inc. (Samsung Electronics Co., Ltd), BlackBerry Limited, Medtronic PLC
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