Automotive Software Market 2020-2024 |$10.70 billion Incremental

NEW YORK, Oct. 4, 2021 /PRNewswire/ — The automotive software market in the application software industry is poised to grow by $10.70 bn from 2020 to 2024. Technavio’s latest market research report estimates that the automotive software market will be progressing at a CAGR of over 9%.

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The automotive software market is fragmented, and the degree of fragmentation will accelerate during the forecast period. The increased adoption of ADAS in mass-produced vehicles will offer immense growth opportunities. However, to leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Automotive Software Market 2020-2024: Segmentation

• Product

• Geography

• Application

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Automotive Software Market 2020-2024: Vendor Analysis and Scope

To help businesses improve their market position, Technavio’s report provides a detailed analysis of vendors operating in the market. Some of the major vendors of the automotive software market include Access Co. Ltd., Adobe Inc., Airbiquity Inc., Alphabet Inc., BlackBerry Ltd., Continental AG, Green Hills Software LLC, Microsoft Corp., Siemens AG, and Wind River Systems Inc. Backed with competitive intelligence and benchmarking, our research report on the automotive software market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

The report also covers the following areas:

The introduction of infotainment systems in mid-segment and mass-market segments is likely to emerge as one of the primary drivers of the market. However, factors such as rising complexity in software architecture, leading to higher production costs for OEMs and suppliers, may threaten the growth of the market.

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Automotive Software Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024

• Detailed information on factors that will assist automotive software market growth during the next five years

• Estimation of the automotive software market size and its contribution to the parent market

• Predictions on upcoming trends and changes in consumer behavior

• The growth of the automotive software market

• Analysis of the market’s competitive landscape and detailed information on vendors

• Comprehensive details of factors that will challenge the growth of automotive software market vendors

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