Automotive software is an instruction set, which is particularly related to automotive industry specific services or products. It is designed to help car seller’s market their services and improve their customer base. It enables new & used car dealerships to capture more leads and empowering them with an ability to make more sales. It is used in vehicles for improving dashboard displays and ensuring the safety of an operator and other passengers as well.
According to study, “Global Automotive Software Consumption Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global automotive software consumption market are CDK Global, Reynolds and Reynolds, Cox Automotive, Wipro Limited, Dealertrack, Auto-IT, Dominion Enterprises, MAM Software, Infomedia, Internet Brands, TitleTec, Auto/Mate, Epicor, WHI Solutions, NEC, RouteOne, ARI, Qiming Information, Yonyou, Checking-On-Tech, Shenzhen Lianyou, Shoujia Software, Kingdee, Guangzhou Surpass.
Based on software, automotive software consumption market is segmented into autonomous driving software, vehicle management software, safety & security software, infotainment software and others. The autonomous driving software segment holds major share in market owing to increase in demand for convenient & safe driving practices. The vehicle management software segment is anticipated to witness higher growth rate due to rise in demand to reduce road fatalities occurring because of human errors during the forecast period. Based on vehicle type, market is segmented into commercial vehicle, passenger vehicle and others. The commercial vehicles segment dominates the market because of rise in environmental awareness among consumers to reduce carbon footprints. The passenger vehicle segment likely to exhibit higher growth rate caused by increase in trend of integrating advanced technologies in passenger vehicles during the forecast period. Based on application, market is segmented into Anti-Lock Braking System (ABS), Engine Management System (EMS), airbag control, infotainment system, car navigation system and mobility service. In addition, based on end-use, market is segmented into manufacturer retail store, automotive repair store, automotive dealer, auto part wholesaler & agent and others.
Manufacturer retail store segment is anticipated to witness higher CAGR as a result of rise in consumer expectations & dealership franchise dynamics during the forecast period. The automotive software consumption market is driven by increase in production & sales of automobiles, followed by growth in improvement in automotive infrastructure, rise in demand for autonomous & connected vehicles, growth in concern over driver & vehicle safety, increase in adoption for driver assistance safety system, and growth in demand for environment friendly vehicles. However, rise in complexity in the software architecture and lack of standard protocols for the development of software platform may impact the market. Moreover, rise in adoption of advanced software solutions & services in automobile sector are a key opportunity for market.
Based on geography, the Asian-Pacific is a leading region in the global automotive software consumption market owing to increase in sales of connected vehicles and growth in automotive infrastructure in the region. Whereas, the European and North-American regions are projected to exhibit considerable growth rate due to increase in investment by public & private players to develop information and communications technology (ICT) infrastructure coupled with rise in demand for safety features in vehicles over the forecast period. In upcoming years, it is predicted that future of the market will be optimistic on account of change in in-vehicle electronics architecture, increase in the number of connected cars and C-V2X technology developments during the forecast period.
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Ankur Gupta, Head Marketing & Communications