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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Ken Research
Ankur Gupta, Head Marketing & Communications
ankur@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
ankur@kenresearch.com
+91-9015378249
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