The commercial vehicles in the automotive software market will grow at a CAGR of over 18% over the forecast period. The growth is attributed to the rising carsharing and the increasing use of public transport to reduce pollution. Stringent government regulations related to the green & clean environment along with the increasing awareness campaign for climate change is proliferating market growth. Additionally, the increasing number of autonomous trucks in logistics is attributing to the growth of the automotive software market. For instance, in 2016, trucking companies of the U.S. collected USD 260 billion in revenues, which is 20 % of the worldwide total of USD 1.2 trillion.
The Auto Part wholesaler & agent grabs over 18% market share in the automotive software market in 2018 and is expected to maintain a dominant position during the forecast period. The growing demand for cheap auto parts related to hardware & software is proliferating this segment. The automobile industry strategically distributes its software & hardware through various distribution channels, including auto part wholesalers and agents, to increase its global presence. Additionally, the rising trend of customization of vehicles is attributing to the growth of this segment in the automotive software market.
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Growing automobile sales coupled with the increasing penetration of software in vehicles has led to the global automotive software market emerging as a lucrative hotspot worldwide. Today, the incorporation of automotive software components in any given automobile is rather commonplace, providing a positive impetus to the overall automotive software industry outlook.
Over the past decade, the automobile has evolved from a mechanical & electrical set-up to a sophisticated software-driven machine. The discipline of automotive software development is further slated to make the vehicle of the future easier & more enjoyable to drive while making the ride safer for the drivers. Moreover, owing to significant advancements in automotive Artificial Intelligence and the Internet of Things (IoT), automobiles of the future are projected to become smarter and more connected.
The increasing use of technological advancements to offer features such as ADAS, smart electric roof, cooled glove box, and walk away safety lock is proliferating the growth of the automotive software market. These advanced features have increased the number of electronic components in vehicles, leading to an increase in hardware and weight of vehicles. Automobile manufacturers are increasingly adopting consolidated ECUs to reduce the hardware space in the vehicles, increasing its efficiency.
In the software segment, the vehicle management software held over 32% market share in the automotive software market in 2018. The vehicle management software includes fleet management, vehicle architecture designing, fuel management, and vehicle tracking, which has increased the operational efficiency of automobile manufacturers. The automotive driving software is expected to witness the highest growth rate of over 15% in the market during the forecast period. The increasing number of road mishaps and loss of lives related to it has increased the demand for automotive driving software. It assists drivers in parking, driving lane, and object recognition on the road, alerting drivers or reducing the speed of vehicles by auto braking to avoid collision or crash of vehicles.
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Asia Pacific is estimated to be the fastest growing region in the automotive software market growing at a CAGR of more than 17% over the forecast period. Stringent government regulations related to environmental safety are impacting OEMs in the region to build fuel-efficient and low-carbon emission vehicles with the help of automotive software and electronic components. Highly-populated countries in this region, such as China and India, are facing traffic congestion and mishaps, impacting the growth of this software to provide predictive navigation, traffic details, and object recognition to avoid crashes or collisions. The emerging smart cities in this region are expected to drive the automotive software market.
The major players in the automotive software market are focusing on various business growth strategies, such as new product developments, mergers, acquisitions, and partnerships. This will enable them to expand their existing portfolio and increase their geographical presence.
Glimpse of Table of Content (ToC)
Chapter 3. Automotive Software Market Insights
3.2. Industry segmentation
3.3. Automotive software industry landscape
3.4. Industry ecosystem analysis
3.5. Evolution of automotive software
3.6. Technology & innovation landscape
3.6.1. Advanced driver assistance system (ADAS)
3.6.2. Cybersecurity for in-vehicle software and connected cars
3.6.3. Over-the-air update/maintenance
3.6.4. Deployment of open source software (OSS) in automotive
3.6.5. Consolidation of ECU and domain-controller functionality
3.6.6. Deployment of application program interface (API) in automotive software
3.6.7. Front Ventilated Seats for driver and Co-driver
3.6.8. Cooled glove box
3.6.9. Smart electric sunroof
3.6.10. Walk away lock and child safety lock
3.7. Regulatory landscape
3.7.1. Federal Motor Vehicle Safety Standards
3.7.2. Global Technical Regulations
3.7.3. Ontario Regulations
3.7.4. Canada Motor Vehicle Safety Standards
3.7.5. ECE Regulations
3.7.6. Guobiao Standards
3.7.7. Motor Vehicles Act 1988
3.7.8. Automotive Industry standard
3.7.9. Road Vehicles Act, 1951
3.7.10. Korea Motor vehicle safety standards
3.8. Industry impact forces
3.8.1. Growth drivers
220.127.116.11. Increase in number of electronic products in vehicles
18.104.22.168. Increasing investment in auto-tech and autonomous vehicles
22.214.171.124. Increasing demand for connected cars
126.96.36.199. Intervention of innovative technologies for advanced user interface
3.8.2. Industry Pitfalls and Challenges
188.8.131.52. Maintenance and troubleshooting of automotive software
184.108.40.206. Consolidation of ECUs and lack of standard protocols to develop software platforms
220.127.116.11. Cybersecurity threats
3.9. Porter’s Analysis
3.10. PESTEL analysis
3.11. Growth potential analysis
Chapter 4. Competitive Landscape, 2018
4.2. Competitive analysis of key market players
4.2.1. Dassault Systèmes SE
4.2.2. Autodesk, Inc.
4.2.3. Honda Motor Company, Ltd.
4.2.4. Siemens PLM Software, Inc.
4.2.5. General Motor Company
4.3. Competitive analysis of innovation leaders
4.3.1. Cox Automotive
4.3.2. CDK Global LLC
4.3.3. Wipro Limited
4.3.4. Delphi Technologies
4.3.5. Nvidia Corporation
4.4. Competitive landscape
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