According to a new report, published by KBV research, The Global Autonomous Driving Software Market size is expected to reach $4.3 billion by 2031, rising at a market growth of 13.3% CAGR during the forecast period.
The autonomous driving software market refers to the sector of the technology industry focused on developing and deploying software systems that enable vehicles to operate with little or no human intervention. This market encompasses a wide range of technologies, including those related to perception, decision-making, control, and connectivity, which are essential for autonomous vehicles (AVs) to navigate, interpret their surroundings, and make driving decisions.
The ICE segment led the Global Autonomous Driving Software Market by Propulsion in 2023; thereby, achieving a market value of $2.8 Billion by 2031. Many consumers and manufacturers seek to upgrade existing ICE vehicles with autonomous features rather than investing in entirely new electric vehicle (EV) platforms. The large fleet of ICE vehicles creates opportunities for aftermarket ADS software that can retrofit older models with autonomous capabilities.
The L2 segment is growing at a CAGR of 12.8 % during the forecast period. L2 systems provide significant driver assistance features, such as adaptive cruise control, lane-keeping assist, and automatic emergency braking, while requiring human oversight. This balance enhances safety and convenience without removing the driver from the loop.
The Passenger Vehicles segment is capturing the maximum revenue in the Global Autonomous Driving Software Market by Vehicle Type in 2023; thereby, achieving a market value of $3 Billion by 2031. Passenger vehicles require sophisticated HMI to ensure drivers can intuitively interact with the autonomous systems. This includes touchscreens, voice commands, and heads-up displays, all driven by advanced software.
The Perception & Planning Software segment is registering a CAGR of 12.6 % during the forecast period. Perception and planning are the foundational elements of any autonomous driving system. Perception software enables the vehicle to understand and interpret its surroundings while planning software allows it to make decisions and navigate effectively.
Full Report: https://www.kbvresearch.com/autonomous-driving-software-market/
The North America region dominated the Global Autonomous Driving Software Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.5 Billion by 2031. The Europe region is anticipated to grow at a CAGR of 13.1% during (2024 - 2031). Additionally, The Asia Pacific region would witness CAGR of 13.9% during (2024 - 2031).
By Propulsion
By Level of Autonomy
By Vehicle Type
By Type
By Geography
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