Automotive Software Market Size To Grow Based On Growing Application In Power-Driven Vehicles, And Rise In Electronic Application In Vehicles By 2028 | Radiant Insights, Inc.
SAN FRANCISCO, Feb. 4, 2020 /PRNewswire/ — The Automotive Software Market is expected to account for the largest revenue share over the forecast period. Rising R&D activities for development of autonomous and connected vehicles will escalate product demand in the forecast period. Software in autonomous industry plays an important role by enhancing driving experience, safety, and performance. It concentrates on the mounting trend towards acceptance of the on-board vehicle diagnostic system and health monitoring, sensor fusion and automotive haptic.
Drivers and Restraints:
Growing demand for power-driven vehicles, intervention of innovative technologies for advanced user interface, and rise in electronic application in vehicles will show a positive impact on overall industry growth in the next six years. Factors such as high maintenance costs and troubleshooting aspects are expected to restrain overall product demand. Also, dearth of standard procedures to develop software platforms will show a negative impact on market growth in the coming years.
Opportunities & Challenges:
Introduction of advanced software like Over-The-Air (OTA) to reduce vehicle recalls will create a novel opportunity for industry growth in the forecast period. In addition, information monetization in a protracted automotive network and rising importance of software in autonomous and semi-autonomous vehicles will create new avenues in the industry. A rise in cyber security threats on account of rising software daises in vehicles and strengthening of ECUs are the major challenges that will propel industry demand in the forecast period.
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. Digital marketing solution segment is anticipated to remain dominant over the forecast period owing to expansion of digital automotive sector and rising demand for highly digitalized electric vehicles with enhanced software.
Download PDF to know more details about “Global Automotive Software Market”Report 2028.
Based on application, the industry is categorized into auto part wholesaler & agent, manufacturer retail store, automotive repair store, and automotive dealer. Manufacturer retail store segment is anticipated to account for the largest revenue share and continue its dominance over the forecast period. Changing preference of customers from vehicle ownership to mobility services and rising competition in the industry owing to the consumer-centric approach will escalate segment growth in the forecast period. In addition, digitization, strict government policy, and several new entrants will boost segment growth in the near future.
Automotive dealer segment is anticipated to witness the fastest growth in the forecast period on account of rising number of options and products, pressure enforced by OEMs, and highly competitive industry. These traders use software to improve the inventory management and supply chain to diminish the operative cost. This, in turn, will propel segment growth in the coming years.
Based on 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, Asia Pacific is anticipated to remain dominant over the forecast period on account of a rise in automobile production. India and China are the major hubs for automobiles. Asia Pacific was followed by North America and Europe.
North America was the second-largest region with a significant revenue share on account of the presence of a huge number of technology giants and automakers. Rapidly altering in-vehicle electronics architecture and rising vehicle production will propel product demand in this region. Europe is anticipated to witness a lucrative growth rate in the forecast period. The high growth is attributable to the presence of well-established information and communications infrastructure.
Access 133 page research report with TOC on “Global Automotive Software Market” available with Radiant Insights, Inc. @: https://www.radiantinsights.com/research/2013-2028-report-on-global-automotive-software-market
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 focusing on enhancing R&D activities to sustain themselves amongst fierce competition and invest in expansion of their business to maintain a leading position in the industry.
This report provides detailed historical analysis of global market for Automotive Software from 2013-2018, and provides extensive market forecasts from 2019-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Automotive Software market.
- Leading players of Automotive Software including:
- CDK Global
- Cox Automotive
- Reynolds and Reynolds
- Dominion Enterprise
- Wipro Limited
- Auto – IT
- MAM Software
- Internet Brands
- WHI Solutions
- Shenzhen Lianyou
- Qiming Information
- Checking – On – Tech
- Guangzhou Surpass
- Shoujia Software
- Market split by Type, can be divided into:
- F&I Solution
- Electronic Vehicle Registration
- Inventory Solutions
- Digital Marketing Solution
- Market split by Application, can be divided into:
- Manufacturer Retail Store
- Automotive Dealer
- Automotive Repair Store
- Auto Part Wholesaler & Agent
- Market split by Sales Channel, can be divided into:
- Direct Channel
- Distribution Channel
- Market segment by Region/Country including:
- North America ( United States, Canada and Mexico)
- Europe ( Germany, UK, France, Italy, Russia and Spain etc.)
- Asia-Pacific ( China, Japan, Korea, India, Australia and Southeast Asia etc.)
- South America Brazil, Argentina, Colombia and Chile etc.)
- Middle East & Africa ( South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Browse reports of similar category available with Radiant Insights, Inc.:
- Automotive Rain Sensor Market
- Automotive MEMS Sensors Market
- Automotive Surround-View Systems Market
- Automotive Traffic Sign Recognition Market
About Radiant Insights, Inc.:
At Radiant Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.
Contact:Michelle Thoras.Corporate Sales SpecialistRadiant Insights, Inc.Phone: +1-415-349-0054Toll Free: 1-888-928-9744Email: email@example.comWeb: https://www.radiantinsights.com Blog: https://radiantinsightsinc.blogspot.com/
View original content: http://www.prnewswire.com/news-releases/automotive-software-market-size-to-grow-based-on-growing-application-in-power-driven-vehicles-and-rise-in-electronic-application-in-vehicles-by-2028–radiant-insights-inc-300998186.html
SOURCE Radiant Insights, Inc.
Provided by: The Street Retirement
Comments are closed.