Selbyville, Delaware, May 21, 2024 (GLOBE NEWSWIRE) --
The software-defined vehicle market valuation is anticipated to reach USD 249.8 billion by 2032, as reported in a research study by Global Market Insights Inc.
Significant advancements in connectivity technologies like 5G to enable seamless communication between vehicles and infrastructure are facilitating the implementation of software-defined functionalities. The rising demand for enhanced safety features and autonomous driving capabilities are pushing the integration of sophisticated software systems into vehicles.
According to the India Brand Equity Foundation (IBEF), in January 2024, the total passenger vehicle sales reached approximately 3,93,074 in the country. Automotive vehicles are fitted with ADAS and infotainments systems, thus, increasing the product appeal. The strong consumer preference for personalized and customizable driving experiences is also fueling the adoption of software-defined vehicle platforms. The growing emphasis on sustainability and energy efficiency is further encouraging the development of software-driven solutions for electric and hybrid vehicles.
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The software-defined vehicle market from the powertrain control application segment will expand at notable rate through 2032, due to the increasing emphasis on fuel efficiency and emissions reduction. Advanced software solutions are providing dynamic control and optimization of powertrain components, leading to enhanced fuel economy, and reduced environmental impacts. The integration of predictive analytics and machine learning algorithms is offering real-time adjustments to powertrain settings for improving performance and responsiveness while meeting stringent regulatory standards for emissions control.
The commercial vehicle type segment in the software-defined vehicle market is estimated to record substantial gains from 2023 to 2032, owing to the growing demand for fleet management solutions. Fleet operators are seeking software-defined platforms to optimize vehicle performance, monitor driver behavior, and enhance operational efficiency. The integration of telematics and real-time data analytics is enabling better route planning, fuel management, and maintenance scheduling, contributing to cost savings and improved productivity in commercial vehicle operations.
Asia Pacific software-defined vehicle market is projected to depict significant growth between 2023 and 2032. The rapid expansion of the automotive sector coupled with the increasing investments in R&D is fueling the adoption of software-defined technologies. The growing urbanization and demand for smart mobility solutions is driving the integration of advanced software functionalities in vehicles. The launch of supportive government policies and initiatives are also promoting innovations and technological advancements in the region.
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Some of the leading firms operating in the software-defined vehicle market include Aptiv PLC, Continental, Mobileye, NVIDIA Corporation, Robert Bosch GmbH, Tesla Inc., and Waymo LLC. These players are incorporating several inorganic strategies like mergers & acquisitions, collaborations, and launching novel solutions to increase their market footprint.
For instance, in March 2024, NXP, a semiconductor company, launched the Open S32 CoreRide Platform, a comprehensive solution tackling software-defined vehicle (SDV) development challenges. This platform provides designers a complete solution for SDV development across diverse vehicle architectures.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market definitions
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Software-defined vehicle market 360º synopsis, 2018 - 2032
2.2 Regional trends
2.3 Vehicle type trends
2.4 Propulsion type trends
2.5 Level of Autonomy trends
2.6 Offering trends
2.7 Application trends
Chapter 3 Software-Defined Vehicle Market Insights
3.1 Impact of COVID-19
3.2 Impact of Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Vehicle Type & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Rising demand for advanced features in vehicles
3.10.1.2 Stringent vehicle safety regulations
3.10.1.3 Increased investments in research and development
3.10.1.4 Enhanced navigation and connectivity
3.10.2 Industry pitfalls & challenges
3.10.2.1 Vast amount of data raises data privacy concerns
3.10.2.2 Complexity and interoperability issues
3.11 Profit margin analysis
3.12 Vendor matrix analysis
3.13 Growth potential analysis
3.14 Porter’s analysis
3.15 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
4.3.1 Aptiv PLC
4.3.2 Continental
4.3.3 Mobileye
4.3.4 NVIDIA Corporation
4.3.5 Robert Bosch GmbH
4.3.6 Tesla Inc.
4.3.7 Waymo LLC
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
