Automotive Software Market Size

Automotive Software Market Size

Automotive Software Market size estimated at USD 18 billion in 2018 and is poised to register gains at over 15% between 2019 and 2025. The industry growth is due to growing demand for passenger safety & comfort and rising adoption of connected vehicles.

Stringent government regulations related to vehicle safety and collaboration of government authorities with automotive software developers are expected to accelerate innovations in the technology market. The rapid adoption of IoT and the rising internet penetration will help drivers to visualize objects and obstacles & other vehicles on the road to avoid collision and maintain a safe distance by either alerting the driver or applying the brake automatically.

The automotive software market demand is attributed to rapid growth in the use of electronic components to enhance various features of vehicles such as ADAS and infotainment systems. The growing automobile sector coupled with technological developments provides enhanced diving experience, increasing electronic appliances in vehicles. With the rapid adoption of connected vehicles and government partners to build infrastructure for connected vehicles, technologies such as vehicle to vehicle (V2V) and vehicle to infrastructure (V2I) are increasing the utilization of electronic products in automotive software.