According to a recent market study published by Growth Market Reports, titled, “Global Automotive Software & Electronics Market” by Type, by Vehicle Type, by Sales Channel, by region: Size, Share, trends and opportunity Analysis, 2016-2031”, the market was valued at USD 356.2 Billion in 2022 and is expected to grow at a growth rate of 7.2 % by the year 2031.

As per Growth Market Reports industry analyst Devashish Roy, “Global Automotive Software & Electronics” is anticipated to witness significant growth during the forecast period 2023-2031. Automotive software refers to the electronic component and computer programs that are used to control the various systems and features in modern cars. Automotive electronics typically include sensors, controllers, and actuators that interact with the mechanical systems of the cars such as engines, transmission, and braking systems. Various fields of use of automotive software and electronics aerospace industry which uses sensors and controllers to control the aircraft system, Medical devices, and industrial automation.

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Key factors such as rapid growth in automotive industry and introduction of new features such as ADAS, autonomous driving, and installation of software are anticipated to propel the growth of the market during the forecast period.

The supply chain is a system between a company and its suppliers to manufacture and distribute particular products to the final buyers. This system includes different activities, information, entities, people, and resources. Entities involved in the automotive software & electronics supply chain include manufacturers, suppliers/distributors, and end-users. Presence of major suppliers and distributors, adoption of technologies, availability of raw materials, and presence of an integrated technology industry are some factors that strengthened the supply chain of automotive software & electronics in the developed region.

The primary as well as secondary research methodology is used for keen observation and study of the global automotive software & electronics market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals on regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, current and future trends done from the key opinion leaders (KOLs).

These KOLs are the CXO level people from leading companies in the industry and possess the experience of around 10-20 years in the industry. On the other-hand the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases analyzed for macro & micro analysis. Research publications and paid data referred to obtain and validate the market estimations, budget, expenditure and other statistical insights.

The COVID-19 pandemic has highlighted economic disparities in the global demand for automotive software & electronics in the crises of global interdependence and governance challenges. Pandemic is the isolated concerns for businesses and prospects for emerging patterns and vulnerabilities.  During the pandemic situation, strict measures were taken for monitoring the circumstances, which in turn, affect the automotive manufacturers causing unanticipated short and long-term effects such as halt in productions, limited or no supply of raw material supply across region. In the long-term, COVID-19 can serve as another opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally. In the current scenario, post-COVID-19, the production process of automotive software & electronics has been resumed.

Key Takeaways from the Study

  • The players include Airbiquity Inc. , BlackBerry Limited, DENSO CORPORATION, Infineon Technologies AG, KPIT Technologies, NXP Semiconductors, Omron Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG, Renesas Electronics Corporation,  Continental AG, and 3M
  • Based on type the global automotive software & electronics market is segmented into Sensors, Power Electronics, ECU/DCUs, Software, and Others. The power electronics segment is anticipated to acquire significant market share during the forecast period. The power electronics comprises of crucial components such as the motor, transmission, and drivetrain that help the development of the vehicle by providing and controlling electric control. The car fabricating companies are investing a tall rate on inquiries about to create tall control motors, and innovatively progressed security and comfort highlights in vehicles. The development in vehicle generation is coupled with the surge in requests for control hardware. Additionally, the fast appropriation of zap within the car industry is encouraging the power hardware section to preserve its dominance for a long time.
  • In terms of vehicle type the global automotive software & electronics market is fragmented into Passenger Cars, Commercial Vehicle. The passenger cars segment is anticipated to acquire a significant market share during the forecast period due to higher sales and production of passenger cars across the globe. The rapid adoption of advanced technologies such as driver assistance systems and infotainment by automotive manufacturers is fueling the growth of the market.
  • In terms of Sales Channel the global Automotive Software & Electronics market is fragmented into OEM and Aftermarket.
  • Asia Pacific is expected to dominate the market during the forecast period, owing to the rising investments in automotive and electronic manufacturing industries as well as the presence of key players manufacturing automotive electronics and components and rising investment in automotive industry in several countries such as China, India, South Korea, and Japan is expected to drive the region.

Report Scope

Report Metric

Details

Market Value in 2022

USD 3,56,200.0 Million

Market Growth Rate (from 2020 to 2028)

7.2%

Historical Data

2020 & 2021

Base Year

2022

Forecast Period

2023 – 2031

Units Considered

Value (USD Million)

Market Segments

By Type, Vehicle Type, Sales Channel

Key Companies Profiled

Airbiquity Inc., BlackBerry Limited, DENSO  CORPORATION, Infineon Technologies AG, KPIT Technologies, NXP Semiconductors, Omron Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG, Renesas Electronics Corporation,  Continental AG, and 3M

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Manufacturer
  • Demand Side: Automotive industry
  • Regulatory Side: Concerned government authorities, and other regulatory bodies.
  • Associations and Industry Bodies: Association of Global Automakers, Automotive Component Manufacturers Association of India, 5G Automotive Association (5GAA), and others