The latest publication released by QY Research titled, ‘Global Vehicle Embedded Software Market Size, Status and Forecast 2019-2025’, provides an analysis of the global vehicle embedded software market in terms of volume and value. The report classifies and forecasts the market based on segments, regions, and competitive landscape. It also identifies the drivers, trends, opportunities, and challenges of the market during the forecast period.
According to the report, the global vehicle embedded software is expected to reach over US$4000 mn by 2025 from US$2418 mn in 2018, with a CAGR of more than 8% over the forecast period.
QY Research has used the tried and tested methodologies to collect the data from primary and secondary sources. The systematic research method includes in-depth secondary research, primary research, and a summary of the report to determine the actual size of the market. QY Research has provided a foolproof report without any statistical errors that maintain the authenticity throughout. Adequate cross-checking of the data has ensured highly accurate data that can directly be used by the reader to make well-informed decisions.
Launch of Anti-Braking Systems in Vehicles Boosts Market
The global vehicle embedded software market will witness a promising growth due to growing research and development activities for autonomous and connected vehicles and the increasing use of electric and hybrid vehicles across the world. Hybrid and electric vehicles are predominantly using embedded software to improve efficiency and reduce pollution. The launch of airbags and anti-braking systems for the vehicles is gaining lucrative opportunities for the market to grow. The increasing investment in the automobile industry with rising support from the governments is augmenting the market.
Embedded software ensures reliability, power-efficiency, adaptability, accuracy, and speed in automobiles. These systems are mainly designed to meet real-time limitations. The growing demand for convenience systems, advanced safety, and comfort system are the factors that are likely to propel the market growth.
Commercial Vehicle Segment Leads the Market
The product type segment includes a Linux operating system, Android operating system, Microsoft operating system, and others. The application type segment includes commercial vehicles, cars, pickup trucks, and SUVs. The commercial vehicle segment will witness significant growth due to rising demand for commercial vehicles across the globe as transportation gains momentum.
Asia Pacific to be the Largest Region in the Vehicle Embedded Software Market
Asia Pacific dominates the vehicle embedded software market due to growing demand for autonomous and connected vehicles in this region. The rising trend of integrating smart technologies and the Internet of Things (IoT) in modern vehicles is further expected to drive the market growth in this region. Increasing demand for electric and hybrid vehicles in North America and Europe is also likely to fuel the growth of the global vehicle embedded software market.
Global Vehicle Embedded Software Market: Leading Players
Aptiv PLC, NXP Semiconductors, Continental, STMicroelectronics, BlackBerry QNX, Luxoft Company, Texas Instruments, MSC Software, Panasonic, Intel, Robert Bosch, Microsoft, Denso, Mitsubishi Electric, IBM, and AdvanTech are the key players that are operating in the global vehicle embedded software market.