|[April 20, 2017]
Global Automotive Software Market - Size, Projections, Drivers, Trends, Vendors, and Analysis Through 2021 by Technavio
According to the latest market study released by Technavio,
automotive software market is projected to grow to USD
11.47 billion by 2021, at a CAGR of close to 11% over the forecast
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Technavio has published a new report on the global automotive software market from 2017-2021. (Graphic: Business Wire)
This research report titled 'Global
Automotive Software Market 2017-2021' provides an in-depth
analysis of the market in terms of revenue and emerging market trends.
This market research report also includes up to date analysis and
forecasts for various market segments and all geographical regions.
The automotive software is a set of instructions that enable the
user to interact with the underlying in-vehicle hardware and also
perform control functions in a vehicle. The introduction of
infotainment systems in mid-range and mass-market segment vehicles
is expected to be a major factor driving the global automotive
software market through 2021.
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Based on the applications, the report categorizes the global automotive
software market into the following segments:
Infotainment and Telematics
The top three revenue-generating application segments in the global
automotive software market are discussed below:
"Safety systems are responsible for generating over 29% of the
total revenue for the automotive software market. The rise in demand for
safety features in vehicles owing to legislations mandating their
installation in automobiles is a key driver for the market segment," says
Siddharth Jaiswal, a lead analyst at Technavio for automotive
The installation of rare-view cameras in all vehicles to reduce
back-over accidents and the mandatory installation of eCall systems will
further boost the growth of the market segment. Also, safety
technologies such as tire pressure monitoring system (TPMS), adaptive
cruise control (ACC), blind-spot detection (BSD), and lane-departure
warning system (LDWS) will impact the market.
Infotainment and telematics
The infotainment and telematics segment of the global automotive
software market is projected to grow at a CAGR of 11.34% through 2021,
making it the fastest growing application segment. The increasing demand
for infotainment systems in mid-segment and mass produced segment, which
was earlier limited to premium vehicles, is a key factor responsible for
the growth of the market segment. Also, the rise in disposable income
due to sustained economic growth is resulting in high demand for
infotainment systems, which has reduced their average selling price
(ASP), resulting in its higher adoption.
"The powertrain is the powerhouse of the vehicle as it is used to
convert energy generated by the engine to propel the vehicle. This
segment of the market is projected to be worth USD 2.5 billion by 2021,
driven by the rapid electrification of the powertrain," says
A powertrain is made up of an engine, drive shafts, and transmission.
The powertrain of a vehicle has been continuously evolving, driven by
the increased demand for fuel-efficient vehicles. Also, initiatives by
governments around the world to reduce the emission of greenhouse gases
is driving the adoption of newer and more efficient powertrains.
The top vendors highlighted by Technavio's research analysts in this
Adobe (News - Alert) Systems
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Technavio analysts employ primary as well as secondary research
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and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
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View source version on businesswire.com: http://www.businesswire.com/news/home/20170420006372/en/
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