According to a new report, published by KBV research, The Global Software-defined Vehicle Market size is expected to reach $510.4 billion by 2030, rising at a market growth of 10.5% CAGR during the forecast period.
The Software segment is registering a CAGR of 10.2% during (2023 - 2030). ADAS software is at the forefront of enhancing vehicle safety and autonomy. Complex software algorithms are essential for adaptive cruise control, lane-keeping assistance, automatic emergency braking, and traffic sign recognition. Software-defined vehicles are built to be constantly connected, providing real-time data sharing and communication. Connectivity software enables features like vehicle tracking, remote diagnostics, and predictive maintenance, which can reduce downtime and maintenance costs for both individual consumers and fleet operators. Infotainment software is a key element that enhances the user experience in SDVs.
The ADAS/HAD segment acquired the maximum revenue in the Global Software-defined Vehicle Market, by Application in 2022; thereby, achieving a market value of $184.8 billion by 2030. ADAS technologies include adaptive cruise control, automatic emergency braking, lane-keeping assistance, blind-spot monitoring, and more. These features contribute significantly to road safety by helping drivers avoid accidents and mitigate the severity of collisions. ADAS features such as adaptive cruise control can help optimize traffic flow by maintaining safe following distances and reducing unnecessary braking and accelerating.
The ICE segment is experiencing a CAGR of 10.1 % during (2023 - 2030). ICE vehicles increasingly have software-defined capabilities that enhance performance and user experience. These upgrades can include advanced engine management systems, infotainment systems, and safety features such as adaptive cruise control and lane-keeping assistance. ICE vehicles have benefited from software-defined safety systems, including adaptive cruise control, blind-spot monitoring, and automatic emergency braking.
The Asia Pacific region dominated the Global Software-defined Vehicle Market, by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $202.8 billion by 2030. The Europe region is anticipating a CAGR of 9.8% during (2023 - 2030). Additionally, The North America region would exhibit a CAGR of 10% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/software-defined-vehicle-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, 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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Companies Profiled
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