Automotive Software Management System Market: Current Analysis and Forecast (2021-2027)

Automotive Software Management System Market: Current Analysis and Forecast (2021-2027)

Automotive Software Management System Market is anticipated display a CAGR of around 8% over the forecast period (2021-2027). Increasing disposable income has improved lifestyle of individuals, the trend has increased the overall demand for personal passenger cars with high-end electronics. Overall adoption of advanced technologies is expected to be high in the passenger car segment, owing to the higher production and sales of passenger cars globally, compared to other vehicles. To add on, automotive manufacturers around the world are focusing more on luxury passenger vehicles equipped with advanced features such as advanced driver assistance systems, advanced infotainment systems, enhanced body control and comfort, among others. Additionally, the overall demand for automotive software is expected to increase owing the advent of technologies such as autonomous driving and Internet of Things. In addition, growing concerns regarding vehicle & passenger safety have led to the increased adoption of intelligent transportation systems, globally.

Insights Presented in the Report

“Amongst Application, ADAS & Safety System category to Witness Strong Growth During the Forecast Period”

Based on application, the automotive software management system market is segmented into ADAS & safety systems, body control & comfort system, powertrain system, infotainment system, vehicle management & telematics, and others. Among these, ADAS & safety systems category to witness strong growth during the forecast period. This is mainly due to stringent regulations and compliance with upcoming safety mandates and increasing demand for semi-autonomous driving systems, globally. Major OEMs are embracing ADAS solutions to achieve higher safety ratings to attract more consumers. Hence, leading OEMs either standardize safety systems across the models or offer them as additional features. Thus, the increasing penetration of advanced driver assistance systems features will surge the demand for components such as cameras, radar sensors, ultrasonic sensors, and LiDAR and further supports the growth of the automotive software management systems market..

“Amongst Vehicle Type, Commercial Vehicle Segment to witness fastest growth”

Based on vehicle type, the market is segmented into passenger vehicle and commercial vehicle. Commercial vehicle category is expected to witness highest CAGR of during the forecast period owing to sustained economic activities coupled with increasing e-commerce activities, have bolstered the growth of the light commercial vehicle market. Furthermore, market players are investing heavily on the research and launch of advance systems for commercial vehicles, which is further expected to drive the market. In addition, the stringent government regulations and rise in adoption of cloud-based fleet management telematics solutions by fleet owners is further expected to drive the category’s growth.

“Among Software Layer, Operating System category will be propelled by increasing popularity of ADAS and other added features of luxury vehicles”

Based on software layer, the market is categorized into operating system, middleware, application software. Among these, operating system category to witness strong growth during the forecast period. Increasing demand for safety and comfort features in vehicles coupled with intervention of innovative technologies for advanced user interface is further expected to support market growth. Furthermore, the rapid growth in the integration of advance electronics in cars by various manufacturers has bolstered the demand for Android-based operating systems.

“Asia-Pacific is expected to witness highest growth during the forecast period”

For a better understanding of the demand of Automotive Software Management System, the market is analyzed for major regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, South Korea, Rest of Asia-Pacific); and Rest of World. APAC to witness fastest growth in the global automotive Software Management System market during the forecast period owing to growing working population and expanding middle class population thus creating demand for new-age vehicles coupled with presence of a large pool of skilled & semi-skilled workforce and cost-effective manufacturing in countries like India and China. China is the largest automobile market in the world whereas India is the 5th largest automobile market in the world, surpassing Germany in terms of sales, as of 2020. Developing countries like China and India are major hub of manufacturing all types of auto components including automotive chips. Moreover, supportive policies from government is expected to further drive the demand for automotive chips by key automakers present in the region. For instance, in India, dedicated FAME II policy was launched to incentivize electric vehicle consumption and support manufacturing. In addition, 100% FDI allowed under automatic route for auto components sector.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry