Automotive Software Market is expected to grow from USD 22.01 billion in 2021 to USD 61.31 billion by 2029, at a CAGR of 13.9% during the forecast period 2022-2029 : GreyViews

Pune India, July 09, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Automotive Software market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Automotive Software market is present across various countries in the above-mentioned regions. Get Sample Copy of This Report @ The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the application, vehicle type, software layer, EV application, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs. The significant players operating in the global Automotive Software market are Robert Bosch, NVIDIA, NXP, BlackBerry, Elektrobit, Renesas Electronics, Airbiquity, Wind River Systems, Green Hills Software, Microsoft Corporation and others. To achieve a substantial market share in the worldwide automotive software market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Robert Bosch is one of the most significant manufacturers and distributors present in the global Automotive Software market. Automotive Software solutions comprises of a wide-ranging tools that are used for performing computer-based in-vehicle operations. It interacts with hardware components, controls functions, and augments experience of operating a motor vehicle. Also, it helps in implementation of car's functionality that runs on the essential processors, sensors, and memory. These software includes telematics, infotainment, body control & comfort, powertrain, communication, and advanced driver assistance systems (ADAS) software.  Such software solutions are transforming the car capabilities; however, creating development challenges for various automotive players. Artificial intelligence (AI) is rapidly being implemented across the automotive manufacturing, including design, production, supply chain, and post-production. In addition, it is rapidly being integrated in driver assistance and driver risk assessment systems. Owing to such functionality, OEMs are planning to develop their own automotive software solutions. For instance, in January 2022, Toyota announced its plans to develop its own automotive software solutions for its vehicles by 2025 to compete with German rivals, Daimler AG and Volkswagen AG. Hence, need for AI and deep learning-based solutions to enable the OEMs to significantly enhance efficiencies and make faster data-driven decisions has boosted growth of the automotive software market. Enquiry Before Buying This Report @ Scope of Automotive Software Market Report Report Metric Information Study Period 2021-2029 Base Year 2021 Forecast Period 2022-2029 Market size (Unit) USD Billion Segments Covered Application, vehicle type, software layer, EV application, and regions. Regions Covered North America, Europe, Asia-Pacific, South America and Middle-East and Africa Major Players Robert Bosch, NVIDIA, NXP, BlackBerry, Elektrobit, Renesas Electronics, Airbiquity, Wind River Systems, Green Hills Software, and Microsoft Corporation. Segmentation Analysis Telematics systems segment is expected to be the fastest growing segment in 2021. The application segment ... Full story available on