Automotive Software Market by Product, Application, and Geography - Forecast and Analysis 2020-2024

The automotive software market and it is poised to grow by $ 10.70 bn during 2020-2024, progressing at a CAGR of over 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Increased adoption of ADAS in mass produced vehicles has been instrumental in driving the growth of the market. However, rising complexity in software architecture and higher production costs for OEMs and suppliers might hamper the market growth.

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Automotive Software Market 2020-2024: Segmentation

Automotive Software Market is segmented as below:

• Product
• Application Software
• Middleware
• Operating System
• Geography
• APAC
• Europe
• North America
• South America
• MEA

Automotive Software Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive software market report covers the following areas:

• Automotive Software Market Size
• Automotive Software Market Trends
• Automotive Software Market Industry Analysis

This study identifies the introduction of infotainment systems in mid-segment and mass-market segments as one of the prime reasons driving the Automotive Software Market growth during the next few years.