Automotive Electronics And Software Market size, Growth, Report By 2032

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06 Oct 2024

Table of Content

The global automotive electronics and software market size is anticipated to reach around USD 489 billion by 2032 up from USD 279 billion in 2022 with a CAGR of 5.77% Between 2023 and 2032.

Regional Snapshot:

The Asia Pacific region is expected to have the largest market growth in the coming years. Rapid urbanization and the demand for technologically advanced automobiles will drive the market growth. The development of connected mobility services in regions like Japan as well as China will lead to the growth of the market. Development in various collected services will provide real-time communication between the vehicles, the infrastructure as well as the pedestrians.

Due to the increasing adoption of stringent policies related to emissions in countries like India Japan and China there shall be a growing demand for software solutions that help in reducing emissions. Due to the incorporation of various advanced technologies in the vehicles, the automotive software in the next ronyx market in this region is expected to grow well. China in the Asia Pacific region was the region that was affected the most during the pandemic. As all the production processes in many countries across the globe had start the manufacturing of automobiles through China had also stopped which affected the market be there.

Report Highlights:

• On the basis of application the connected services segment is expected to have the largest market share in the coming years Is there increase indie amount of advanced services associated with connected cars the market is expected to grow. The largest software market that makes use of connected services is Europe. Its use has ensured safety of the vehicles as well as the passengers.
• The operating system Is a platform used for the communication between or user and the software. An extremely popular operating system QNX is used widely. The apple iOS and Android system is expected to have a larger market share in the coming years as the users are extremely familiar with these operating systems and these operating systems are user-friendly. These operating systems will have a prominent place in the market. the Asia Pacific region we'll see a growth in the demand for various technologies that demand the use of software. And this will increase the demand for robust systems.
• on the basis of the components used the current carrying devices we will have the largest share in terms of revenue. Due to an increase in the use of different electronic equipment this market is expected to grow. An increase in the demand for safety features and an increase in the demand of connectivity services will lead to a growth in the market.
• The original equipment manufacturers market is expected to see the maximum growth in the coming years. As this happens to be an authentic source that provides reliable electronic equipment the market is expected to grow in the coming years. The various initiatives taken by the government that help in ensuring the safety and the security of passengers as well as the drivers will drive the market for the Original equipment manufacturers segment. The aftermarket segment which provides equipment needed for the vehicles happens to be a secondary market. It is associated with the distribution and retailing order remanufacturing of the electronic parts of different vehicles.

Automotive Electronics And Software Market Report Scope:

Market Dynamics:

Drivers:

There is a growing demand for advanced driver assistance systems features which will be another most important reason which will lead the market growth. An increase in the demand for safety and luxury along with comfort in the vehicles will ensure the growth of this market. Growth in the initiatives taken by the government across the developing as well as the developed nations to enhance the safety features in cars will drive market growth. The increased use of this software will hence the communication of the vehicles as well as the driver. The automotive industry will have improved safety features and great evolution in the coming years.

Restraints:

As there is no standardization of the protocols used in the various vehicles the market growth will be hindered. As the communication interface does not have a standardized format there shall also be an increase in inaccurate data which will restrain the growth of the market. As there is no standardization of software the automotive market's growth will be hampered. dirigible equipment manufacturers are coming together in order to solve this issue. Automotive manufacturers like BMW and Daimler are working together to standardize the technology used by these manufacturers in their automated driving cars.

Opportunities:

Design increasing demand for customized software due to the changes in the architecture after vehicle design. The introduction of 5G will help in improving the efficiency of the automotive software used in the vehicles and it will also enhance the safety feature of these cars. Automobiles are becoming ultra-connected and they require high-speed connectivity. Please use of artificial intelligence in the automotive industry it's providing virtual assistance, speech recognition, HMI and engine control units. There shall be an increased use of artificial intelligence in the automotive market and this is expected to provide great opportunities for growth in the coming years period

Challenges:

Due to a large number of technological advancements in the automobile sector one of the major challenges faced by this industry is the cyber security. The software is used in the automotive czar prone to cyber-attacks. Cybersecurity happens to be the largest challenge for the growth of this market as cyberattacks could lead to a large scale damage to the industry. There has been an increase of about 67% in the cases of data breach. That I've been maximum cases of cyber attack in the United states. Many major manufacturers are working on providing cyber security. Many nations across the globe are also working on providing standards which will help in ensuring cyber security in the coming years.

Recent Developments:

• Apex AI which is a startup based in the United states will be helpful in implementing many complex solutions of artificial intelligence.

Major Key Players:

• Renesas Electronics
• BlackBerry
• NVIDIA
• Airbiquity
• Elektrobit
• Robert Bosch
• NXP 
• Green Hills Software
• Wind River Systems

Market Segmentation:

By Application

• ADAS
• Unexpected Services
• Infotainment
• Autonomous Driving
• HMI
• Safety Systems
• Camera
• LiDAR
• RADAR
• Body
• Chassis
• Powertrain

By Components

• Sensors
• Electronic Control Unit
• Current Carrying Devices
• Integration, Verification and Validation Services
• Power Electronics
• Software
  • Operating System
  • Middleware
  • Application
• Others (Wiring Harness, Displays, Speakers, Board Net)

By Sales Channels

• Original Equipment Market
• Aftermarket

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