Car Software Market in North America to Grow at 15.8% CAGR by 2027: Allied Market Research

Rise in adoption of ADAS features in vehicles, increase in inclination toward connected car services, and intervention of innovative technologies for advanced user interface (UI) propel the growth of the global automotive software market. Based on product, the application software segment held the major share in 2019. By region, on the other hand, Asia-Pacific is expected to portray the fastest CAGR by the end of 2027.

The leading market players analyzed in the automotive software market report include Airbiquity Inc., Atego Systems Inc. (PTC), Microsoft Corporation, Autonet Mobile, Inc., Adobe Inc., Wind River Systems, Inc., Blackberry Limited, Goggle, Green Hills Software, and Montavista Software. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to strengthen their stand in the industry.

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According to the report published by Allied Market Research, the global automotive software market was estimated at $18.5 billion in 2019 and is expected to hit $43.5 billion by 2027, registering a CAGR of 14.5% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Increase in adoption of ADAS features in vehicles, growing inclination toward connected car services, and intervention of innovative technologies for advanced user interface (UI) fuel the growth of the global automotive software market. On the other hand, lack of standard protocols to develop software platforms and scarcity of connected infrastructure impede the growth to certain extent. However, future potential of 5G and Artificial Intelligence (AI), developments in semi-autonomous and autonomous vehicles, and data monetization in extended automotive ecosystem are projected to pave the way for lucrative opportunities for the key players in the industry.

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Covid-19 scenario-

  • The outbreak of the pandemic led to a sharp decline in demand and investment for automobiles. There’s also been a huge change in the consumer behavior that has highly affected the market.
  • However, with several government bodies coming up with ameliorated rules and regulations, the market is expected to recoup soon.

The global automotive software market is analyzed across application, product, vehicle type, and region. Based on application, the safety system segment contributed to around one-third of the total market revenue in 2019 and is projected to lead the trail by 2027. Simultaneously, the infotainment and telematics segment would portray the fastest CAGR of 16.2% during the forecast period.

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Based on product, the application software segment accounted for nearly half of the total market share in 2019 and is expected to retain its dominance by 2027. At the same time, the operating system segment would showcase the fastest CAGR of 17.2% from 2020 to 2027.

Based on region, Europe held the highest share in 2019, generating more than one-fourth of the global automotive software market. Asia-Pacific, on the other hand, would grow at the fastest CAGR of 16.6% by 2027. The two other regions analyzed across the report include North America and LAMEA.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.