[Latest] Global Automotive Electronics and Software Market Size/Share Worth USD 519,597 Million by 2033 at a 4.8% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)
Austin, TX, USA, July 11, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Automotive Electronics and Software Market Size, Trends and Insights By Component (Electronic Control Units (ECUs), Sensors, Actuators, Displays, Connectivity Solutions, Software, Others), By Application (Advanced Driver Assistance Systems (ADAS), Infotainment Systems, Powertrain Control Systems, Safety Systems, Body Electronics, Telematics, Others), By Vehicle Type (Passenger Vehicles, Commercial Vehicles, Electric Vehicles (EVs), Hybrid Vehicles), By Sales Channel (Original Equipment Manufacturers (OEMs), Aftermarket), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.
“According to the latest research study, the demand of global Automotive Electronics and Software Market size & share was valued at approximately USD 325,128.1 Million in 2023 and is expected to reach USD 340,734.2 Million in 2024 and is expected to reach a value of around USD 519,597.8 Million by 2033, at a compound annual growth rate (CAGR) of about 4.8% during the forecast period 2024 to 2033.”
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Automotive Electronics and Software Market: Growth Factors and Dynamics
- Rise of Electric and Autonomous Vehicles: The increasing adoption of electric vehicles (EVs) and autonomous driving technologies is driving the demand for advanced automotive electronics and software. These vehicles require sophisticated electronic control systems, sensors, and software algorithms to enable functions such as autonomous driving, vehicle connectivity, and energy management.
- Demand for Advanced Driver Assistance Systems (ADAS): Growing concerns about road safety and regulatory mandates are fueling the demand for ADAS technologies. These systems rely heavily on sensors, cameras, and software algorithms to provide features such as adaptive cruise control, lane departure warning, and collision avoidance, contributing to the growth of the automotive electronics market.
- Infotainment and Connectivity Solutions: Consumers are increasingly seeking enhanced infotainment and connectivity features in their vehicles, driving the demand for advanced multimedia systems, navigation systems, and connected services. This trend is supported by the proliferation of smartphones, IoT devices, and high-speed internet connectivity, which enable seamless integration with vehicle systems.
- Emphasis on Fuel Efficiency and Emissions Reduction: Stringent fuel efficiency regulations and environmental concerns are driving automakers to adopt electronic and software-based solutions to optimize engine performance, reduce emissions, and improve fuel economy. This includes technologies such as engine management systems, hybrid powertrains, and electric vehicle drivetrains, which rely on sophisticated electronics and software algorithms.
- Shift towards Digitalization and Over-the-Air (OTA) Updates: Automakers are increasingly embracing digitalization and OTA update capabilities to enhance vehicle functionality, improve user experience, and streamline maintenance processes. This trend requires robust software platforms, cybersecurity measures, and reliable communication networks to facilitate remote software updates, diagnostic checks, and performance optimizations.
- Partnerships and Collaborations: Collaboration among automotive OEMs, technology companies, and software developers is driving innovation and accelerating the development and adoption of advanced electronics and software solutions in the automotive industry. Strategic partnerships enable companies to leverage complementary expertise, share resources, and accelerate time-to-market for new technologies, contributing to market growth and competitiveness.
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Automotive Electronics and Software Market: Partnership and Acquisitions
- In 2022, Texas Instruments, a leading semiconductor manufacturer for vehicles, unveiled a new 77-GHz radar sensor capable of detecting objects up to 40% farther away from the vehicle compared to conventional radar sensors, enhancing automotive safety and collision avoidance capabilities.
- In 2021, The Volkswagen Group and Microsoft Corporation have teamed up to expedite the advancement of automated driving. This collaboration involves the joint development of an automated driving platform by Volkswagen’s Car Software Organisation and Microsoft, aiming to accelerate innovation in autonomous vehicle technology.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 340,734.2 Million |
| Projected Market Size in 2033 | USD 519,597.8 Million |
| Market Size in 2023 | USD 325,128.1 Million |
| CAGR Growth Rate | 4.8% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Component, Application, Vehicle Type, Sales Channel and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
(A free sample of the Automotive Electronics and Software report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request.
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
- Includes Tables and figures have been updated.
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Automotive Electronics and Software report has been modified to include the COVID-19 impact study prior to delivery.)
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Automotive Electronics and Software Market: COVID-19 Analysis
The COVID-19 pandemic has significantly impacted the Automotive Electronics and Software Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Supply Chain Disruptions: The COVID-19 pandemic led to disruptions in the global supply chain, affecting the availability of electronic components and software modules used in automotive manufacturing. Factory closures, transportation restrictions, and workforce shortages disrupted production schedules, leading to delays in vehicle assembly and deployment of new technologies.
- Decreased Vehicle Sales: Economic uncertainties and lockdown measures resulted in a significant decline in vehicle sales worldwide, impacting demand for automotive electronics and software. Reduced consumer purchasing power, uncertainty about future mobility needs, and shifting priorities towards essential spending further exacerbated the slowdown in automotive sales and production.
- Resumption of Production: As lockdown measures ease and economic activities resume, automotive manufacturers are gradually ramping up production to meet pent-up demand. Restoring normal production levels helps alleviate supply chain constraints and ensures the availability of electronic components and software modules for vehicle assembly.
- Focus on Digital Transformation: The COVID-19 pandemic accelerated the digital transformation of the automotive industry, emphasizing the importance of connected and autonomous technologies. Automakers are investing in advanced electronics and software solutions to enhance vehicle connectivity, enable remote diagnostics, and improve the user experience, catering to changing consumer preferences and expectations.
- Agile Manufacturing Practices: Automotive OEMs are adopting agile manufacturing practices to adapt to changing market conditions and mitigate future disruptions. Flexibility in production processes, modular assembly lines, and supply chain resilience measures help minimize the impact of unforeseen events and ensure the timely delivery of electronic and software components to meet market demand.
- Collaboration and Innovation: Collaboration among automotive stakeholders, technology companies, and government agencies is essential for driving innovation and accelerating recovery in the automotive electronics and software market. Strategic partnerships facilitate knowledge sharing, joint research and development initiatives, and the co-creation of solutions to address emerging challenges and opportunities in the post-pandemic era.
In conclusion, the COVID-19 pandemic has had a mixed impact on the Automotive Electronics and Software Market, with some challenges and opportunities arising from the pandemic.
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Key questions answered in this report:
- What is the size of the Automotive Electronics and Software market and what is its expected growth rate?
- What are the primary driving factors that push the Automotive Electronics and Software market forward?
- What are the Automotive Electronics and Software Industry's top companies?
- What are the different categories that the Automotive Electronics and Software Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Automotive Electronics and Software market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2024−2033
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Automotive Electronics and Software Market – Regional Analysis
The Automotive Electronics and Software Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:
- North America: In North America, trends in automotive electronics and software include a strong focus on autonomous driving technologies, with companies investing heavily in research and development. Additionally, there’s a growing demand for connected car features, such as in-vehicle entertainment and navigation systems, driven by consumer preferences for seamless connectivity and enhanced driving experiences.
- Europe: In Europe, there’s a notable emphasis on sustainability and environmental concerns, leading to increased adoption of electric vehicles (EVs) and hybrid vehicles. Consequently, trends in automotive electronics and software revolve around EV drivetrains, battery management systems, and charging infrastructure development. Additionally, there’s a push towards integrating advanced driver assistance systems (ADAS) to improve road safety and meet stringent regulatory standards.
- Asia-Pacific: In the Asia-Pacific region, trends in automotive electronics and software are influenced by rapid urbanization, a growing middle-class population, and increasing demand for affordable mobility solutions. Key trends include the development of compact and fuel-efficient vehicles, as well as a strong focus on connected car technologies and infotainment systems tailored to the preferences of tech-savvy consumers.
- LAMEA (Latin America, Middle East, and Africa): In LAMEA, trends in automotive electronics and software are shaped by diverse factors, including economic conditions, infrastructure development, and regulatory environments. In regions like the Middle East, there’s a focus on luxury vehicles equipped with advanced entertainment and navigation systems. In contrast, in parts of Latin America and Africa, trends lean towards cost-effective vehicles with basic connectivity features and aftermarket upgrades.
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Browse the full “Automotive Electronics and Software Market Size, Trends and Insights By Component (Electronic Control Units (ECUs), Sensors, Actuators, Displays, Connectivity Solutions, Software, Others), By Application (Advanced Driver Assistance Systems (ADAS), Infotainment Systems, Powertrain Control Systems, Safety Systems, Body Electronics, Telematics, Others), By Vehicle Type (Passenger Vehicles, Commercial Vehicles, Electric Vehicles (EVs), Hybrid Vehicles), By Sales Channel (Original Equipment Manufacturers (OEMs), Aftermarket), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” Report at https://www.custommarketinsights.com/report/automotive-electronics-and-software-market/
List of the prominent players in the Automotive Electronics and Software Market:
- Robert Bosch GmbH
- Continental AG
- Aptiv PLC
- Denso Corporation
- Valeo SA
- Infineon Technologies AG
- NXP Semiconductors N.V.
- Panasonic Corporation
- ZF Friedrichshafen AG
- Harman International Industries Incorporated
- NVIDIA Corporation
- Intel Corporation
- Texas Instruments Incorporated
- STMicroelectronics N.V.
- Renesas Electronics Corporation
- Others
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The Automotive Electronics and Software Market is segmented as follows:
By Component
- Electronic Control Units (ECUs)
- Sensors
- Actuators
- Displays
- Connectivity Solutions
- Software
- Others
By Application
- Advanced Driver Assistance Systems (ADAS)
- Infotainment Systems
- Powertrain Control Systems
- Safety Systems
- Body Electronics
- Telematics
- Others
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Electric Vehicles (EVs)
- Hybrid Vehicles
By Sales Channel
- Original Equipment Manufacturers (OEMs)
- Aftermarket
Click Here to Get a Free Sample Report of the Global Automotive Electronics and Software Market @ https://www.custommarketinsights.com/report/automotive-electronics-and-software-market/
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
This Automotive Electronics and Software Market Research/Analysis Report Contains Answers to the following Questions.
- Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Automotive Electronics and Software Market? What are Their Company Profile, Product Information, and Contact Information?
- What Was the Global Market Status of the Automotive Electronics and Software Market? What Was the Capacity, Production Value, Cost and PROFIT of the Automotive Electronics and Software Market?
- What Is the Current Market Status of the Automotive Electronics and Software Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Automotive Electronics and Software Market by Considering Applications and Types?
- What Are Projections of the Global Automotive Electronics and Software Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Automotive Electronics and Software Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is the Economic Impact On Automotive Electronics and Software Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Automotive Electronics and Software Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Automotive Electronics and Software Industry?
Click Here to Access a Free Sample Report of the Global Automotive Electronics and Software Market @ https://www.custommarketinsights.com/report/automotive-electronics-and-software-market/
Reasons to Purchase Automotive Electronics and Software Market Report
- Automotive Electronics and Software Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- Automotive Electronics and Software Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Automotive Electronics and Software Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Automotive Electronics and Software Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the global Automotive Electronics and Software market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
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What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Automotive Electronics and Software market analysis.
- The competitive environment of current and potential participants in the Automotive Electronics and Software market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Automotive Electronics and Software market should find this report useful. The research will be useful to all market participants in the Automotive Electronics and Software industry.
- Managers in the Automotive Electronics and Software sector are interested in publishing up-to-date and projected data about the worldwide Automotive Electronics and Software market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Automotive Electronics and Software products' market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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