According to the research report titled ‘Automotive Software Market Size By Software, By Application, Air bag control, Car Navigation System, Infotainment System, Mobility Service), By Vehicle Type (Passenger Vehicle, Commercial Vehicle), By End-use , Industry Analysis Report, Regional Outlook , Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Repot LLC, the global automotive software market is expected to surpass USD 52 billion by the year 2025.
 

Growing demand for passenger vehicles with better comfort, convenience and safety is prime factor driving the automotive software market growth. There has been an upsurge in adoption rate of vehicle infotainment systems in medium and premium range vehicles since they offer navigation, music and hands-free calling features. This factor along with strict government regulations pertaining to vehicle safety are fostering the demand for automotive software solutions across the globe.
 

Application of automotive software for customer satisfaction, fleet management and vehicle designing has facilitated not only in reducing the operating costs but also in improving the efficiency and productivity. Growing preference for autonomous vehicles is aiding the market expansion. Moreover, rising adoption of advanced systems to provide walk away safety lock, cooled glove box, smart electric roof and ADAS are stimulating the industry outlook.
 

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The report states that the vehicle management software segment held 32% share of automotive software market in 2018. This software includes vehicle tracking, fuel management, vehicle architecture designing, and fleet management which improves the operational efficiency of automotive, thereby fueling the segmental growth.
 

On the other hand, autonomous driving software segment is slated to record a growth rate of 15% through 2025. Rising prevalence of road accidents and increasing mortality rates has contributed towards the popularity of autonomous driving software.
 

Based on the application spectrum, anti-lock braking system application segment is presumed to expand with a CAGR of 14% during 2019-2025 as the system facilitates in reducing the risk of multiple vehicle crashes and run-off road crashes.
 

In terms of vehicle type, automotive software market share from commercial vehicles segment is expected to grow with 18% CAGR through 2025, primarily due to rising adoption of public transport and increasing car sharing activities. Strict government regulations regarding emission mitigation is also boosting the segmental growth.
 

As per the regional analysis, the report cites that Asia-Pacific automotive software industry is predicted to expand with a CAGR of 17% between 2019 and 2025. Strict mandates regarding environment conservation are compelling OEMs to develop low-carbon emission and fuel-efficient vehicles using electronic components and automotive software. Adding to this, high occurrence of traffic mishaps in India and China are augmenting the demand for automotive software solutions.
 

The prominent companies operating in automotive software market are Wipro Ltd., The Reynolds & Reynolds Co., Solera Holdings, Siemens Product Lifecycle Management Software Inc., SAP SE, Oracle Corp., NVIDIA Corp., Honda Motor Ltd., Genesys, General Motors Co., Ford Motor Co., Delphi Technologies, DealerTrack Holdings Inc., Dassault Systèmes SE, Daimler AG, Cox Automotive, CDK Global LLC, Bosch Software Innovations GmbH, Autodesk Inc. and Ansys Inc.