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3. Automotive Software Industry - Forthcoming Trends to Fuel the Global Growth

The global automotive software market size is projected to grow from USD 19.0 billion in 2023 to USD 32.3 billion by 2030, at a CAGR of 7.8%. Factors such as advent of software-defined vehicles in conjunction with rising adoption of ADAS features are expected to increase the demand for automotive software. Also, increasing support from governments for vehicle safety paired with increasing demand for semi-autonomous vehicles are also expected to support the revenue growth of the automotive software market during the forecast period.

The automotive software industry is undergoing rapid evolution, driven by emerging trends and global forecasts.

Emerging trends in the global Automotive Software Market are:

• Connected Mobility Solutions
• Autonomous Driving Advancements
• Electrification Ecosystem Optimization
• Cybersecurity Prioritization
• Cloud-Powered Innovations
• Subscription-Based Models
• Open-Source Collaboration

These trends underscore the dynamic landscape of the Automotive Software Market, where innovation and collaboration are driving the next wave of transformative solutions for the automotive industry.

To know about the assumptions considered for the study download the pdf brochure

Connected Mobility Solutions:

• The evolution of connected mobility solutions is redefining automotive software demands, with a surge in telematics, infotainment, and V2X communication driving innovation in navigation, diagnostics, and real-time updates.

Autonomous Driving Advancements:

• Advancements in autonomous driving technologies are fueling the demand for sophisticated software solutions, powering perception, decision-making, and control systems crucial for features like lane-keeping assist and adaptive cruise control.

Electrification Ecosystem Optimization:

• The electric vehicle revolution is reshaping software requirements, with a focus on battery management, charging infrastructure optimization, and range enhancement algorithms to maximize EV efficiency and performance.

Cybersecurity Prioritization:

• With increased vehicle connectivity, cybersecurity and data privacy are paramount. Automotive software developers are prioritizing robust cybersecurity measures to safeguard vehicles from cyber threats and ensure data privacy compliance.

Cloud-Powered Innovations:

• Cloud computing is driving a paradigm shift in automotive software, offering scalable, cost-effective solutions with benefits like remote access, data analytics, and collaboration, fostering efficiency and agility in vehicle development and operations.

Subscription-Based Models:

• Automotive OEMs are embracing subscription-based services driven by software, offering in-car entertainment, advanced driver assistance features, and customization options. These models provide recurring revenue streams and elevate the user experience.

Open-Source Collaboration:

• The automotive industry is embracing open-source software development models, fostering collaboration and innovation across stakeholders. Open-source projects in operating systems, middleware, and simulation tools are gaining traction, driving collective advancement.

Related Reports:

Automotive Software Market by ICE Application (ADAS, Autonomous Driving, Infotainment, Body Control & Comfort, Telematics), Software Layer (OS, Middleware, Application), Vehicle Type (PCs, LCVs, HCVs), EV Application & Region - Global Forecast to 2030