The global automotive software market size is expected to grow from US$21.7 billion in 2022 to US$40.1 million in 2027 at a CAGR of 13.1%.

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The ADAS & Safety Systems segment has the largest market share among all applications in the automotive software market. Government contracts and an increasing awareness of vehicle safety are expected to drive the growth of ADAS and safety systems around the world.

NEW YORK, July 6, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report, “Automotive Software Market by Application, Software Layer, EV Application, Vehicle and Region – Global Forecast to 2027” – https://www. reportlinker.com/p05676492/?utm_source=GNW
Implementation of vehicle safety regulations, e.g. B. the UN regulation on Advanced Emergency Braking Systems (AEBS) for cars to significantly improve road safety. The regulation established the technical requirements for the approval of vehicle-to-vehicle (V2V) and vehicle-to-pedestrian AEBS fitted to cars. Additionally, in March 2022, the National Highway Traffic Safety Administration (NHTSA) issued a final rule amending Federal Motor Vehicle Safety Standards to accommodate vehicles equipped with automated driving systems. The rule is limited to the accident resistance standards. In India, all new cars from October 2019 will be entrusted with mandatory basic equipment such as ABS, reversing sensors, airbags, speed warning systems to shield occupant safety and seat belts Pedestrians, the government is offering AEB and ESC as standard for all 2022-2023 models. Thus, the rules and regulations are implemented to boost the ADAS and security market.

The intervention of innovative technologies for advanced UI is likely to drive the growth of the automotive software market over the forecast period.
The industry’s focus used to be on optimizing the internal workings of vehicles, but now the trend is shifting towards better and improved connectivity solutions. Automotive software enables vehicle performance optimization along with better connectivity solutions.

This increasing demand for high-end connectivity drives the use of agile and innovative technologies for software.
The automotive industry is witnessing a shift in consumer car buying and ownership behavior. These consumers are heavily engaging in digital solutions through smartphones, which continue to transform lifestyles and increase the comfort and convenience of vehicles.

Therefore, different software is required to achieve high level of UI with machines. Technologies such as HMI and GRS are driving the market for automotive software.

India is considered to be the fastest growing automotive software market in Asia Pacific during the forecast period.
The automotive software market in India is in a period of growth. Integrated connectivity is expected to be the key driver for the automotive software market in India.

Adoption of 4G connectivity and 100+ Smart Cities initiatives that include Smart Transportation are the major factors supporting the growth of the automotive software market in the country.

Various technologies such as telematics systems, connected services, infotainment systems and communication systems are becoming an integral part of high-end automobiles. In addition, with improved infrastructure and connectivity solutions, India provides vehicle interaction platforms, thus supporting the exchange of useful information such as fuel consumption, road closures, shortest routes, traffic congestion and driving habits.

Growing disposables will allow Indian customers to spend more on luxury and convenience. Engine and powertrain management software covers the second largest share in the Indian market.

The need for high-tech powertrains to meet stringent emission standards has increased significantly. The growing trend towards engine downsizing and increasing demand for automated transmissions are some of the key factors driving the demand for powertrain systems.

India has implemented the BS 6 standard which introduced limits on mass emissions, particulate matter (PM) and the introduction of particle number limits for heavy-duty vehicles and light-duty vehicles equipped with gasoline direct injection and compression ignition/diesel engines; the standard was introduced on April 1, 2020. The main reason for the switch is to reduce vehicle pollution.

Meanwhile, the Indian government is planning to introduce Corporate Average Fuel Economy (CAFE) to achieve the 113 g/km CO2 fleet targets from 2022. Demand for propulsion systems will increase as they can reduce fuel consumption and emissions while providing the performance required of a larger engine.
• By company type: OEMs – 21%, Tier 1 – 47% and Tier 2 – 32%,
• By title: CXOs – 39%, Directors – 34% and others* – 27%
• By region: North America – 37%, Europe – 32%, Asia Pacific – 23%, LATAM – 5% and Rest of World – 3%
*Others are sales, marketing and product managers.

The automotive software market includes major players such as Robert Bosch (Germany), NXP Semiconductors (Netherlands), Renesas Electronics (Japan), BlackBerry Limited (Canada) and NVIDIA (USA).

Research Coverage:
The study covers various segments of the Automotive Software Market. It aims to estimate the market size and future growth potential of this market in various segments such as application, software layer, EV application, vehicle type and region.

The study also includes an in-depth competitive analysis of the key players in the market along with their company profiles, key observations related to product and business offerings, recent developments and acquisitions.

Key benefits of purchasing the report:
The report will assist executives/newcomers to this market with information on the most accurate approximations of sales figures for the entire automotive software market. This report will help the stakeholders to understand the competitive landscape and gain more insights to better position their businesses and plan appropriate action-to-market strategies.

The report also helps stakeholders to understand the pulse of the market, providing them with information on the major market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05676492/?utm_source=GNW

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