The Automotive Software Global Market Report 2023, provides comprehensive information on the automotive software market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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In accordance with The Business Research Company’s comprehensive analysis in the Automotive Software Global Market Report for 2023, the market is poised for robust expansion. The market size, which stood at $22.42 billion in 2022, is projected to ascend to $26.15 billion by the end of 2023, manifesting an impressive compound annual growth rate (CAGR) of 16.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. Furthermore, the trajectory of growth remains promising, as the market size for automotive software is anticipated to burgeon to a substantial $47.17 billion by the year 2027, underpinned by a sturdy CAGR of 15.9%. These figures underscore a dynamic and evolving landscape within the automotive software sector, offering promising prospects for investors and stakeholders alike.
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Product innovation stands as a prominent trend garnering traction within the automotive software market. Key players in the automotive software sector are dedicating their efforts to crafting novel and ingenious solutions in response to burgeoning customer demands. A pertinent example lies in the initiatives of Robert Bosch, a distinguished German-based technological enterprise. In December 2021, the company successfully engineered a potent computer system tailored for the infotainment domain. This cutting-edge system facilitates the swift integration of an array of services like in-car communication, in-car payment processing, video streaming, voice-activated assistants, and more into vehicles. The prowess of Bosch in automotive software solutions, coupled with their domain-specific hardware expertise, synergizes with solutions from an industry-leading network of technology enterprises to create the transformative information domain computer.
The automotive software market is segmented:
1) By Solution: Autopilot Software, Navigation Software, Entertainment Software, Car Safety Software
2) By Vehicle Type: Passenger Car, LCV (Light Commercial Vehicle), HCV (Heavy Commercial Vehicle)
3) By Software Layer: Operating System, Middleware, Application Software
4) By Application: ADAS (Advanced Driver Assistance Systems) And Safety Systems, Body Control And Comfort Systems, Powertrain Systems, Infotainment Systems, Communication Systems, Vehicle Management And Telematics, Connected Services, Autonomous Driving, HMI (Human-Machine Interface) Applications, Biometrics, Remote Monitoring, and V2X (Vehicle-To-Everything) Systems
Asia-Pacific was the largest region in the automotive software market in 2022.
The table of contents in TBRC’s automotive software market report includes:
1. Executive Summary
2. Automotive Software Market Characteristics
3. Automotive Software Market Trends And Strategies
4. Impact Of COVID-19
5. Automotive Software Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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