Automotive Software Market Dynamics 2018: Opportunities, Risks and Driving Factors to 2025
According to a new report published by Reports Monitor titled, “global automotive software market , Growth Opportunities, Innovations and Forecast, 2017-2025, “global automotive Market” was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
the growing trend towards sensor fusion, focus on automotive hap-tics, integration of infotainment and telematics systems and adoption of on-board vehicle health monitoring and diagnostic systems. As competition shifts from horsepower and acceleration speeds to connected intelligent cars are the latest ongoing trends. Automotive software is the software that is embedded code inside products or services of the automotive industry. These systems are used to improve the driving experience and increase the safety of the driver and passengers. Automotive software is used in various application segments such as safety systems, infotainment, and comfort systems etc. Embedded automotive software is what makes these devices work, and as a result, must be extremely reliable. These software are the electronic control units and on-board networks that are responsible for providing safety in the vehicles
Modern vehicle are mostly software intensive that controls growing number of traditional as well as new innovative functions. These software are made to ensure reliability that whatever result it will give will be reliable but it should not be confused with safety. If there is even one bug in the code, a device could potentially malfunction and cause injury or even death. There are standards to regulate the quality, safety and reliability of automotive software. Their are many associations that has its own standards to test automotive software. For any manufacturer thorough testing of software is required as fault may lead to fall in company’s image & income.
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Standardization of product offerings and the use of open-source platforms to reduce the cost of application and firmware development is one of the key drivers. The manufacturers are into installation of software in their automobiles to provide PC -like functionality & differentiate it from the competitors. The rise in sales of premium cars & growth of global automotive software market. However, if there is even one bug in the code, a device could potentially malfunction and cause injury or even death so huge cost is incurred to the manufacturer to keep a check on the standards of the automotive software. Even though huge growth potentials for automobiles, presence of advanced infrastructure, high demand for passenger vehicles & strict norms that make installation of theses software mandatory will provide future opportunities for the growth of automotive software market.
The global automotive software market is segmented on the basis of product type, vehicle type & application. By product type, the market is segregated into operating system, middleware, and application software. In terms of vehicle type, the market can be divided into passenger vehicles, commercial vehicles, and electric vehicles. Based on application, the market is classified into safety system, infotainment and telematics, power train, and chassis.
The market is segmented on the basis of the geographies : North America (USA, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia);South America (Brazil, Argentina, Columbia etc.) Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa).
Key players operating in the global automotive software market include: Autonet Blackberry, Wind RiveR, Microsoft, Broadcom, Google, Green Hills Software, MontaVista Software, Mentor Graphics, Airbiquity, NXP Semiconductors, Renesas Electronics, Texas Instruments, Adobe Systems (Adobe).
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