The Latin America, Middle East and Africa Automotive Software Market would witness market growth of 17.4% CAGR during the forecast period (2020-2026).
Automotive software is a set of instructions that assist the user interact with primary in-vehicle hardware and also execute control functions in a vehicle. It aims at the growing trend towards automotive haptic, sensor fusion, and adoption of the on-board vehicle health monitoring and diagnostic system. The main factors that lead to the growth of the market are the involvement of innovative technologies for advanced UI, the growing number of connected cars, rising demand for electric vehicles, upsurge in electronic applications in vehicles and automobiles with advanced driver assistance systems.
UI are expected to lead the market growth. Although, the lack of connected infrastructure, the lack of standard protocol to develop software platforms, and maintenance of automotive software restricted the market growth. Additionally, the potential of 5G and AI, increasing development in semi-autonomous and autonomous vehicles and data monetization in extending the automotive ecosystem are a few of the factors that are expected to provide lucrative opportunities for automotive software market growth.
The new technological advancement in the commercial factor of automotive software has encouraged the consumers as well as OEMs to slowly increase their focus on automotive infotainment systems and the manufacturers are resisting on the basis of the software or operating system, which is used in these systems. Nowadays, vehicles contain operating system platforms like Android, Windows CE, QNX, Apple OS, and Linux-based OS. Moreover, the adoption of ADAS features in vehicles, the increasing adoption of connected vehicles, and government partners to construct infrastructure for connected vehicles has positively anticipated increasing the growth of the automotive software market.
Based on Product, the market is segmented into Application Software, Middleware and Operating System. Based on Application, the market is segmented into Safety System, Infotainment & Telematics, Powertrain and Chassis. Based on Vehicle Type, the market is segmented into ICE Passenger Car, ICE Light Commercial Vehicle, Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, ICE Heavy Commercial Vehicle, Hybrid Electric Vehicle and Autonomous Vehicles. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Automotive Software Market in LAMEA is expected to register a CAGR of 17.4% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, NVIDIA Corporation, Renesas Electronics Corporation, Microsoft Corporation, Intel Corporation, Adobe, Inc., BlackBerry Limited, PTC, Inc. (Atego Systems, Inc.), NXP Semiconductors N.V. and Airbiquity, Inc.
By Product
By Application
By Vehicle Type
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Companies Profiled
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