NEW YORK, March 01, 2018 (GLOBE NEWSWIRE) -- A new study “Global In-vehicle Apps Market 2018-2022” forecast the global in-vehicle apps market to grow at a CAGR of 11.70% during the period 2018-2022.
A market report at Market Reports Center said the adoption of over-the-air updates for software and high bandwidth automotive networks were two trends that are and will be responsible for the market’s growth.
In-vehicle apps feature infotainment, safety, convenience, travel, and assistance-based services (navigation). They allow remote access and usability of automotive and related features in the vehicle. These apps can be installed or are pre-installed on the vehicle's infotainment system.
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Traditionally, engine capacity, acceleration, and horsepower were the basis for competition among automotive manufacturers. But recently, consumers and OEMs have shifted their focus toward the software or OS used. These technologies act as the product differentiator between brands, the report says.
The report divided the global in-vehicle apps market into segments including infotainment apps, navigation apps and telematics apps. It found that the infotainment apps segment held the largest market share in 2017, accounting for nearly 41% of the market. The fastest-growing segment was navigation apps, which will see a 5% increase in market share by 2022.
In recent years, driver assistance and other safety features have also propelled the use of electronic components in cars. As a result, there is a growing need for software and application updates installed in vehicles leading OEMs to focus on developing remote over-the-air (OTA) update firmware and software platforms.
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Standardization of product offerings and the use of open-source platforms to reduce the cost of application and firmware development is a major factor driving the market’s growth.
Further, the report states that one challenge in the market is rising complexity in application architecture for end-use leading to higher production costs for OEMs and suppliers. The integration of numerous in-vehicle systems like ADAS, infotainment, and telematics systems have made it very difficult for in-vehicle app developers to deliver defect-free and efficient applications. The presence of different APIs and SDKs, as well as non-standardized platforms, further leads to complexities as software and content developers have to customize solutions for each platform.
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