ADAS & safety systems segment has the largest market share among all the applications in the automotive software market. Government mandates and increasing awareness about vehicle safety are expected to fuel the growth of ADAS & safety systems across the globe.

New York, July 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Software Market by Application, Software Layer, EV Application, Vehicle and Region - Global Forecast to 2027" - https://www.reportlinker.com/p05676492/?utm_source=GNW
Implementation of regulations regarding the safety of vehicles, such as UN Regulation on Advanced Emergency Braking Systems (AEBS) for cars, to significantly improve road safety. The regulation has laid down the technical requirements for the approval of vehicle to vehicle (V2V) and vehicle to pedestrian AEBS fitted on cars. Furthermore, in March 2022, the National Highway Traffic Safety Administration (NHTSA) issued a final rule amending the Federal Motor Vehicle Safety Standards for accounting vehicles equipped with automated driving systems. The rule is limited to the crashworthiness standards. In India, all new cars are entrusted with compulsory basic features such as ABS, reverse parking sensors, airbags, speed warning systems for shielding passenger safety, and seat belts from October 2019. Considering safety as the essential factor for the passenger, driver, and pedestrian, the government, provides AEB and ESC as standard on all models from 2022-2023. Thus, the rules and regulations are implemented to boost the ADAS and safety market.

Intervention of innovative technologies for advanced UI is likely to drive the growth of the automotive software market during the forecast period.
Earlier, the focus of the industry was on optimizing the internal functioning of vehicles, but now the trend is shifting toward better and enhanced connectivity solutions.Automotive software allows for optimizing vehicle performance along with better connectivity solutions.

This increasing demand for high-end connectivity is driving the intervention of agile and innovative technologies for software.
The automotive industry is experiencing a change in automobile buying and ownership behavior of consumers.These consumers are getting highly involved in digital solutions through smartphones, which are further changing lifestyles and increasing the comfort and convenience of vehicles.

Hence, various software is required to achieve a high level of UI with machines. Technologies such as HMI and GRS are boosting the market for automotive software.

India is estimated to be fastest growing automotive software market in Asia Pacific during the forecast period.
The automotive software market in India is in a growing stage.Integrated connectivity is expected to be the major driver for the automotive software market in India.

The launch of 4G connectivity and over 100 smart cities initiative that includes smart transportation are the major factors supporting the automotive software market growth in the country.

Various technologies such as telematics systems, connected services, infotainment systems, and communication systems are becoming an integral part of high-end automobiles. Additionally, with improved infrastructure and connectivity solutions, India is providing platforms for vehicle interaction, thereby supporting the sharing of useful information such as fuel economy, roadblocks, shortest routes, traffic congestion, and driving habits.

Growing disposable will allow Indian customers s to spend more on luxury and comfort.Software for engine and powertrain management covers the second-largest share in the Indian market.

The need for high-tech powertrains has greatly increased to meet the stringent emission norms.The growing trend of downsizing engines and the rising demand for automated transmission are some of the key factors driving the demand for powertrain systems.

India has implemented the BS 6 standard that has tightened mass emission limits, particulate matter (PM), and introduction of particle number limits for HDVs and LDVs fitted with gasoline direct injection and compression ignition/diesel engines; the norm was implemented on April 1, 2020.The main reason for the switch is to reduce vehicle pollution.

Meanwhile, the government of India is planning to implement Corporate Average Fuel Economy (CAFE) to meet fleet CO2 targets of 113 g/km from 2022 onwards. The demand for powertrain systems will increase as they can reduce fuel consumption and emissions while providing the required performance of a larger engine.
• By Company Type: OEMs - 21%, Tier 1 – 47%, and Tier 2 - 32%,
• By Designation: CXOs - 39%, Directors - 34%, and Others* - 27%
• By Region: North America - 37%, Europe - 32%, Asia Pacific - 23%, LATAM - 5%, and Rest of the World- 3%
*Others include sales, marketing, and product managers.

The automotive software market comprises major key players such as Robert Bosch (Germany), NXP Semiconductors (Netherland), Renesas Electronics (Japan), BlackBerry Limited (Canada), and NVIDIA (US).

Research Coverage:
The study covers the automotive software market across various segments.It aims at estimating the market size and future growth potential of this market across different segments such as application, software layer, EV application, vehicle type, and region.

The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and acquisitions.

Key Benefits of Buying the Report:
The report will help leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall automotive software market.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05676492/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001