Top Companies in Software Defined Vehicle Industry - Baker Hughes Company (US), Exxon Mobil Corporation (US), Climeworks (Switzerland), INTERNATIONAL BUSINESS MACHINES CORPORATION (US) and Vaisala (Finland)
The Software Defined Vehicle market size is projected to grow from USD 213.5 Billion in 2024 to USD 1,237.6 Billion by 2030, at a CAGR of 34.0%. The need for SDV technology to improve the driving experience will rise due to factors like reduced recall and manufacturing costs and personalized client engagement, among others. Further, increased adoption of 5G technology and integration of ADAS and AI in digital cockpits of vehicles are expected to boost demand for SDVs, with advanced FOD and value-added services developing additional revenue streams for OEMs.
The Software Defined Vehicle market is dominated by global players such as Tesla (US), Li Auto Inc. (China), NIO (China), Rivian (US), and XPENG Inc. (China). These companies adopted new product development strategies, expansion, partnerships & collaborations, and mergers & acquisitions to gain traction in the market.
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Tesla is leading the Software Defined Vehicle market due to its early innovations and designs to develop electric vehicles. The company also offers various services related to its products such as autonomous driving solutions, after sales services, among others to create an ecosystem for EVs. It sells its products directly to customers and continues to expand its customer-facing infrastructure through a global network of vehicle showrooms, service centers, mobile service units, body shops, supercharger stations, and destination chargers. Tesla operates in two primary segments- automotive and energy generation and storage. The automotive segment includes the design, development, manufacturing, sales, and leasing of high-performance fully electric vehicles and the sale of automotive regulatory credits
Li Auto Inc. is a prominent player in China’s rapidly evolving new energy vehicle market. The company specializes in designing, developing, manufacturing, and selling premium smart electric vehicles. Li Auto differentiates itself through continuous innovation in its product design, technology, and business model. It concentrates its R&D efforts on several core areas such as Proprietary Range Extension System, Next-Generation Electric Vehicle Technology, and Smart Vehicle Solutions. It offers a range of embedded products and services that enhance the ownership experience, such as charging stalls, vehicle internet connection services, Firmware Over-the-Air (FOTA) upgrades, Li Plus membership, and an initial owner-extended warranty.
ZEEKR, a luxury electric mobility technology brand and subsidiary of Geely Holding Group, is dedicated to creating a fully integrated user ecosystem with innovation at its core. The brand leverages the EV-focused Sustainable Experience Architecture (SEA) developed with Geely and Volvo Cars, incorporating its own e-powertrain technologies for a sustainable EV supply chain. With R&D centers in Ningbo, Hangzhou, Gothenburg, and Shanghai, ZEEKR has world class facilities & expertise related to the SDV market. The Swedish engineering team focuses on core technologies like vehicle architectures, powertrains, chassis, and ADAS. They collaborate with startups, innovation hubs, and academic institutions in Sweden and globally to advance sustainable mobility.
Related Reports:
Software Defined Vehicle Market by SDV Type (Semi-SDV. SDV), E/E Architecture (Distributed, Domain Centralised, Zonal Control), Vehicle Type (Passenger Car and Light Commercial Vehicle) and Region - Global Forecast to 2030
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