LONDON, April 8, 2020 /PRNewswire/ — Market Forecasts by Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles), by Electric Vehicle (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV) and Fuel Cell Electric Vehicle (FCEV)), Distribution Channel (OEMs and Aftermarket), Application (ADAS & Safety Systems, Body Control & Comfort Systems, Powertrain Systems, Infotainment Systems, Communication Systems, Telematics Systems and Others) with Regional and National Market Analysis and Financial Analysis of Leading Companies
The global automotive software market is expected to grow by exponential growth rate of 15.3% over the forecast period from 2020 to 2030. The market was valued at $19.3 billion in 2019 and has the potential to reach $92.4 billion by the end of forecast period 2030. Increasing investment by OEMs and other bodies in R&D activities as a result of altering public standards for car security and safety, increasing number of connected cars, rapid technological and innovation changes, and adoption electric vehicles are expected to drive the automotive software industry.
Asia Pacific region is expected to be the largest market for automotive software due to presence of major developing countries including China, India, and South Korea, leadership in vehicle production and consumption, and adoption of technological advancement by OEMs. The growth of middle-class population and standard of living in the region, particularly in China and India, is driving the sales of vehicles which further supported to the overall market demand.
Leading companies featured in the Automotive Software Market Report 2020-2030 report include Airbiquity, Blackberry, Elektrobit, Google, GREEN HILLS SOFTWARE, Microsoft Corporation, NVIDIA, RENESAS ELECTRONICS, Robert Bosch, WIND RIVER SYSTEM among others. Mergers & acquisitions and joint ventures constitute some of the industry players’ common strategies for reducing product price overall and maintaining extremely competitive conditions. In order to guarantee continued raw material supplies and ease of installation services, many actors in the sector create alliances with raw material providers and third-party installers.
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The comprehensive report provides market estimates and forecasts for leading domestic markets across the world for the period from 2020 to 2030. In addition, the report includes dedicated leading companies covering 10 leading software providers.
The report on the Automotive Software Market Report 2020-2030 will appreciate anyone who wants to better understand the market in various end use industries. It will be useful for companies that want to better understand the part of the market in which they are already involved or those that want to enter or expand into another regional or technical part of the Automotive Software industry.
Visiongain’s timely report reveals how best to compete in this profitable market space and maximize your company’s potential.
To find out more about this report please contact Sara Peerun at [email protected] or refer to our website: https://www.visiongain.com/report/automotive-software-market-report-2020-2030/
This report addresses the pertinent issues:
– Where are the most lucrative market prospects?
– Who are the leadings companies and what does the competitive landscape look like?