Automotive Software Market The Future Of Automobile Business

The automotive software market is anticipated to witness the fastest growth rate from 2018 - 2028. The trend of using electronics and software systems has had a huge influence on the automobile business. Thus, constant evolution has added consumer necessities and ecological calibration to the equation of software expansion. At present, almost automobile functions are electronically monitored or controlled.

Strict government policies in relation to vehicle safety and partnership of government authorities with motorized software creators are anticipated to boost innovation in the technology industry. The rapid acceptance of Internet-of-Things (IoT) and rising use of internet will help motorists to visualize obstacles, vehicles, and objects on the road to evade accidents and maintain a safe distance by applying software enabled automatic brakes automatically. This, in turn, will escalate product penetration in the near future.

Long product life, reliability, and security requirements will boost industry demand in the forecast period. For instance, in 2018, BlackBerry Limited launched its three novel safety-certified self-propelled software products that will ease the trials of constructing superior motorized systems to be acquiescent with ISO 26262, industry’s functional safety standard. The three products include BlackBerry’s QNX OS for Safety 2.0, QNX Hypervisor for Safety, and QNX Platform for ADAS 2.0. This software enables automakers to reduce costs and enhance development timelines in ongoing projects.

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Factors such as short-cycle recertification after OTA software updates, ethical and legal responsibility, and cybersecurity are expected to hamper industry demand. The recent trend of using enhanced technology such as vehicle to infrastructure (V2I) and vehicle-to-vehicle (V2V) will increase the utilization of electronic products in autonomous software. Thus, it will upsurge product demand in the projected period.

ZF, BMW, Toyota, Bosch, Magna, Daimler, Hyundai, Ford, and GM are the major industry leaders of autonomous software’s. Several manufacturers are establishing IT development centers across the world to enable the fast move towards uniting electronics and IT systems. This, in turn, will create a novel opportunity for industry development in the next six years. Also, participation of key leaders such as Huawei, Apple, and Google to expand autonomous software platforms will create new avenues in the coming years.

Automotive software industry is categorized based on type, application, sales channel, and region.

•	Based on type, the industry is categorized into the dealer management system. Further, sub-segmented into digital marketing solutions, F&I solution, inventory solutions, and electronic vehicle registration.

•	Based on application, the industry is categorized into auto part wholesaler & agent, manufacturer retail store, automotive repair store, and automotive dealer.

•	Based on the sales channel, the industry is categorized into distribution channels and direct channels.

•	Geographically, the industry is categorized into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Globally, North America is anticipated to witness the fastest growth in the forecast period. The high growth is attributable to a rise in vehicle production, presence of key manufacturers in the region, and rising number of connected cars. In addition, development of enhanced technology such as C-V2X technology and rapidly varying in-vehicle electronics architecture will augment product demand in the coming years. Also, the region is known for its promising governing framework for autonomous vehicles.

Prominent players of automotive software market include Shoujia Software, CDK Global, Guangzhou Surpass, Cox Automotive, Checking - On - Tech, Reynolds and Reynolds, Qiming Information, Dealertrack, Kingdee, Dominion Enterprise, Shenzhen Lianyou, Wipro Limited, Yonyou, Infomedia, WHI Solutions, TitleTec, RouteOne, Epicor, Auto/Mate, Auto - IT, ARI, MAM Software, and NEC. These players are concentrating on delivering automated ride-hailing services across the globe.