Global Automotive Software & Electronics Market to Surpass USD 641.3 Bn By 2031

According to a recent market study published by Growth Market Reports, titled,“ Global Automotive Software & Electronics Market Type (Sensors {Body, Chassis, Powertrain, Advanced Driver Assistance Systems}, Power Electronics {Battery management system, DC/DC Converter, Cell Management Controller, On-board Charger, Battery Junction Boxes (BJB), E-motor, Inverter}, ECU/DCUs{Autonomous Driving, Chassis, Infotainment, Advanced Driver Assistance Systems, Body, Powertrain}, Software{Integration, Validation, and Verification Functional Development} and Others), By Vehicle Type (Passenger Cars, Commercial Vehicle {Light Commercial Vehicle and Heavy Commercial Vehicle}), by Sales Channel(OEM and Aftermarket), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031“, the market size was USD 356.2 Bn in 2022 and is expected to surpass USD 688 Bn expanding at a CAGR of 7.6 % by the end of 2031. Driver- The market is attributed to the rising integration of smart technologies in vehicles to enhance safety, energy efficiency, and cost-effectivity.

Recent Developments:

 On 13th June 2023, Robert Bosch GmbH announced that it has established itself as a leading applicant for AI patents in Europe for automotive software & electronics applications. It has filed a patent application for automotive software & electronics applications for more than 1,000 AI inventions. These applications are able to provide content such as music, text, images, and software codes.

Key Market Players Profiled in the Report

• 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
• 3M

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of the market segments, which include type, software, vehicle type, sales channel, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

Regional Highlights:

On the basis of region, the global automotive software & electronics market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is projected to dominate the global market, due to the rising investments in automotive and electronic manufacturing industries and the presence of large-scale industries in the region.

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Key Takeaways from the Study:

• Automotive Software & Electronics refers to the components, systems, and applications used in modern vehicles controlled by software and electronic circuits.
• Automotive software & electronics systems enhance the safety of the vehicles and occupants by automating critical automotive functions such as braking, inflation of airbags, and blind-spot detection.
• Increasing adoption of autonomous vehicles and integration of safety features in the vehicles is likely to create new opportunities for market players.
• The ECU/DCU segment is projected to expand at the fastest CAGR during the forecast period, owing to the electrification of vehicles to manage and control electric power in the vehicles and enhance the safety of the vehicles.
• The passenger vehicle segment is anticipated to hold a major share of the market due to the adoption of cutting-edge technologies such as driver assistance and infotainment systems.
• The OEM segment is expected to dominate the market during the forecast period, owing to the continuous evolvement of integrated technologies by the OEMs to provide enhanced performance, safety, and convenience.

Read 256 Pages Research Report with Detailed TOC on “Global Automotive Software & Electronics Market Segments – by Type(Sensors{Body, Chassis, Powertrain, Advanced Driver Assistance Systems}, Power Electronics{Battery management system, DC/DC Converter, Cell Management Controller, On-board Charger, Battery Junction Boxes (BJB), E-motor, Inverter}, ECU/DCUs{Autonomous Driving, Chassis, Infotainment, Advanced Driver Assistance Systems, Body, Powertrain}, Software{Integration, Validation, and Verification Functional Development}, Others, By Vehicle Type(Passenger Cars, Commercial Vehicle{ Light Commercial Vehicle, Heavy Commercial Vehicle}), by Sales Channel(OEM, Aftermarket), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031

Key Segments Covered

Type

• Sensors
  • Body
  • Chassis
  • Powertrain
  • Advanced Driver Assistance Systems
• Power Electronics
  • Battery management system
  • DC/DC Converter
  • Cell Management Controller
  • On-board Charger
  • Battery Junction Boxes (BJB)
  • E-motor
  • Inverter

• • ECU/DCUs
    • Autonomous Driving
    • Chassis
    • Infotainment
    • Advanced Driver Assistance Systems
    • Body

• Powertrain

• • Software
    • Integration
    • Validation and Verification

• Functional Development
• Others

Vehicle Type

• Passenger Cars
• Commercial Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

Sales Channel

• OEM
• Aftermarket

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, and secondary research & consumer surveys.

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