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The global automotive software market was valued at US$ 14.27 Billion in 2021.
We expect the global automotive software market to exhibit a CAGR of 18.50% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in the installation activities for automotive software.
The rising number of road accidents, along with the increasing integration of AI, IoT, and cloud-based solutions for controlling devices, scheduling maintenance, and ensuring security, is primarily driving the global automotive software market.
Based on the product, the global automotive software market can be segmented into application software, middleware, and operating system. Currently, application software holds the majority of the total market share.
Based on the vehicle type, the global automotive software market has been divided into ICE passenger vehicle, ICE light commercial vehicle, ICE heavy commercial vehicle, battery electric vehicle, hybrid electric vehicle, plug-in hybrid electric vehicle, and autonomous vehicles. Among these, ICE passenger vehicle currently exhibits a clear dominance in the market.
Based on the application, the global automotive software market can be categorized into safety and security, infotainment and instrument cluster, vehicle connectivity, and others. Currently, safety and security accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global automotive software market include Airbiquity Inc., Autonet Mobile Inc., BlackBerry Limited, Google LLC, Green Hills Software, KPIT Technologies Limited, Microsoft Corporation, MontaVista Software LLC, NVIDIA Corporation, NXP Semiconductors N.V., Robert Bosch GmbH, and Wind River Systems Inc. (Intel Corporation).
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