The software-defined vehicle market is projected to grow from USD 270.9 billion in 2023 to USD 419.7 billion by 2028, registering a CAGR of 9.1% during the forecast period. The enforcement of stringent vehicle safety regulations and continued development of connected vehicles are expected to propel the software-defined vehicle market in the next five years. However, high initial investments and connected vehicle research costs will likely pose challenges for the industry players.
Key players operating in the software-defined vehicle market include Robert Bosch GmbH (Germany), Nvidia Corporation (US), APTIV (Ireland), Valeo (France), Marelli Holdings Co., Ltd. (Japan), Continental AG (Germany), Volkswagen Group (Germany), Tesla (US), HARMAN International (US), BlackBerry Limited (US), among others. Major strategies adopted by top players to enhance their product portfolios, increase their market share, and expand their presence in the market include new product launches and deals such as acquisitions and partnerships.
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Robert Bosch GmbH is a German multinational engineering and technology company. The company offers a wide range of products and solutions such as auto parts and accessories, eBike systems, motor vehicle technology, household appliances, security systems, solar inverters, packaging technology, industry solutions and business process management solutions. Along with sales and service partners, subsidiaries and regional companies, the company serves customers in the automobile industry, consumer electronics and BPO industries across the Americas, Europe, Asia Pacific and Africa.
Continental AG is a German multinational automotive parts manufacturing company specializing in tires, brake systems vehicle electronics, automotive safety, powertrain, chassis components, tachographs, and other parts for the automotive and transportation industries. Continental is structured into six divisions: Chassis and Safety, Powertrain, Interior, Tires, ContiTech, and ADAS (Advanced Driver Assistance Systems). Continental is one of the technological pioneers of the SDV worldwide and, with its comprehensive product portfolio, enables an increasingly safe, exciting, and autonomous driving experience. In order to be able to transfer large amounts of data to and from the cloud, Continental develops powerful software for processing, managing and distributing all this data. With the Continental Automotive Edge (CAEdge) framework, Continental is relying on a modular solution and, together with Amazon Web Services (AWS), is establishing a new approach for the efficient development of software for service-oriented vehicle architectures in the automotive industry.
Valeo is a French global automotive supplier headquartered in France. Valeo is a technological and industrial leader in electrification, driving assistance systems, reinvention of the interior experience and lighting everywhere. The company develops and produces interface systems between the driver, the vehicle and the environment; powertrain solutions; systems, modules and components to manage the thermal energy of the powertrain; and visibility systems. Valeo serves automaker customers and original equipment manufacturers across the world. The company has a business presence across Asia, Africa, North America, South America, the Middle East and Europe.
Software-defined Vehicle Market by Offering (Hardware, Software, Services), Vehicle Type (ICE, BEV, HEV/PHEV), Vehicle Autonomy (Level 0, Level 1, Level 2, Level 3, Level 4, Level 5), Application and Region - Global Forecast to 2028
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