The report on the Automotive Software Market published by Stratview Research covers in depth details associated with the Automotive Software Market.
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The Automotive Software Market is likely to witness a CAGR of 8.8% during the forecast period. The prime factors that are driving the Automotive Software Market is its superior thermal conductivity property leading to its wide usage in a wide array of industries.
Key Players
The following are the key players in the Automotive Software Market:
• Ansys Inc.
• Autodesk, Inc.
• Bosch Software Innovations GmbH
• CDK Global LLC
• Cox Automotive
• Daimler AG
• Dassault Systèmes SE
• DealerTrack Holdings, Inc.
• Delphi Technologies
• Ford Motor Company.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Automotive software market value and growth drivers over the trend period of 2022-27. According to the report –
Automotive software market is likely to witness an impressive CAGR of 12.8% during the forecast period. The growing demand for automotive software is mainly due to stringent government regulations focusing on the safety of the vehicle coupled with fast adoption of AI and IoT in vehicles to better assist the drivers, which is likely to drive the market during the forecast period.
Segment Analysis:
Based on by Software Type:
Based on the software type, the market is segmented as autonomous driving software, safety & security software, vehicle management software, and infotainment software. The vehicle management software segment held the largest share of the market in 2021, and is expected to remain dominant during the forecast period. This system provides accident tracking, vehicle self-diagnosis, driver fatigue management, and fuel management. All of these systems assist driver by giving information regarding vehicle maintenance and regular checkup.
Based on Regional:
In terms of regions, North America is estimated to be the largest market for automotive software during the forecast period, with the USA, Canada and Mexico being the major countries offering lucrative growth opportunities. The growth of the North American region can be attributed to the extensive growth in production of passenger vehicles in the region and the presence of a large number of automotive software manufacturers in countries, such as the USA, Canada and Mexico. Further, the North American automotive software market is mainly driven by favorable government policies. On the other hand, Europe and Asia-Pacific are also expected to offer sizeable growth opportunities over the forecast period.
Critical Questions Answered in the Report
• What are the key trends in the Automotive Software Market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on Automotive Software Market?
• What are the key strategies adopted by the major vendors to lead in the Automotive Software Market?
• What is the market share of the top vendors?
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