According to UnivDatos Market Insights (UMI)’ research report “Automotive Software and Electronics Market”, the market is expected to witness a CAGR growth of around 8% during the forecast period 2021-2027F. Automotive Software and Electronics Market is experiencing significant growth due to Growing government initiative to increase the adoption of Electric Vehicles and PHEV, Growing necessity to expand the target functionality and customize the core Software for a broad range of vehicles, Rising demand for premium cars and ACES (Autonomous, Connected, Electric, Shared) trends and the architecture evolution. However, Price comparability is a barrier for many consumers, to purchase EV, this would hamper the growth of EV sales, which would in turn restrict the growth of software and electronics in the automotive sector.

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Autonomous driving (AD), connected cars, electrification of powertrain, and shared mobility (ACES) are the major trends that are mutually reinforcing developments in the automotive industry. These trends combined, are not only disrupting the automotive value chain, and impacting all stakeholders but are also major driver for the automotive software and electronic component market. Significant deviation is expected across the market segments. Electric vehicle (EV) platforms will evolve as a new market for high-voltage (HV) harnesses, whereas the overall demand for low-voltage (LV) harnesses is expected to shrink, resulting in the harness segment grow at the slowest rate

China is estimated to produce more than 13 million battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV) by the end of FY2023, more than any other country globally. China’s estimated production level is also anticipated to exceed the combined output of few major auto manufacturing countries including the United States, Germany, and Japan. Total stock volume of BEVs and PHEVs in China stood at around 3.3 million in 2019, an increase of 46% compared to the stock in 2018. SAIC Motor is the leading electric vehicle manufacturers in China. It was ranked among the top three manufacturer of electric vehicles globally in 2020. However, the company’s plug-in electric vehicle sales declined by almost 20% between 2018 and 2019. Hence, growing sale of EV and PHEV would increase the overall demand for software and electronic component in the Automotive sector.

Based on Component, the Automotive Software and Electronics Market is segmented into Software, ECUs/DCUs, Sensors, Power electronics (excl. battery cells), Other electronic components. In 2020, ECUs/DCUs dominated the market accounting for almost 35% share. Further, growth for the software and sensors segment would be majorly driven by the development and adoption of Autonomous driving (AD), which would require advanced software functionality.

Based on Software domain, the market is bifurcated into OS and middleware, Body and energy, Powertrain and chassis, Infotainment, ADAS and AD. Based on estimate software for ADAS and AD segment dominated the market in 2020. Major factors that contribute to the overall growth of automotive software market includes complexity in the software domains, majorly influenced by ACES trends, customization effort for integrating functions for the growing number of platforms, and growing labor costs of software developers.

Based on ECU/DCU domain, the market is segmented into AD (Autonomous driving), Chassis, Infotainment, ADAS, Body, Powertrain. In 2020, ECU/DCU for Powertrain segment dominated the market. It is expected that convergence of Electronic control units would open new market for domain controllers. ECUs within the vehicle are responsible for controlling the electrical subsystems of the vehicle.

Based on Sensor domain, the market is segmented into Body, Chassis, Powertrain, ADAS/AD. Currently, sale of sensor for ADAS/AD segment dominated the market, followed by Powertrain segment. Body sensors is expected to grow as it offer increase of comfort features offsetting decline of prices of commodity-type sensors. In addition, ADAS/AD sensors include cameras, LiDAR, and radar.

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Based on Power electronics domain, the market is segmented into BMS (Battery management system), DC/DC converter, CMC (Cell management controller), On-board charger, BJB (battery junction boxes), E-motor, Inverter. Based on estimate Inverter segment dominated the market. Power electronic segment is expected to witness highest CAGR growth.

Based on Other electronic components domain, the market is bifurcated into Harness, others. In 2020, harness segment dominated the market. Harness segment is majorly driven by the introduction of electric vehicle platforms, which has opened a strong growing market for High-voltage harnesses that connect High-voltage battery, charger, e-motor, and further High-voltage components within electric vehicle.

Based on Vehicle Type, the Automotive Software and Electronics Market is segmented into Volume car, with ICE powertrain, Purpose-built Robo-taxi as BEV, Premium car as PHEV. Currently, software and electronics are majorly used in Purpose-built Robo-taxi as BEV, followed by Premium car as PHEV. Electronic and software costs for Robo-taxis is expected to be significantly high in 2025, driven primarily by high costs of sensors as well as a low vehicle base.

Asia-Pacific dominates the market

Based on regions, the report provides detailed analysis for overall demand of Automotive Software and Electronics for major regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, South Korea, Rest of Asia-Pacific); and Rest of World. In China, the New Energy Automobile Industry Plan (2021-2035) targets 20% of vehicle sales to be ZEVs by 2025. In addition, the China Society of Automotive Engineers set a goal of over 50% EV sales by 2035. Hence, increased adoption of electric vehicle would propel the overall demand for software and electrical and electronic component in the automotive sector.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Automotive Software and Electronics Market are Robert Bosch, NXP Semiconductors, Renesas Electronics, BlackBerry Limited, NVIDIA, Continental, Denso Corporation, Magna International, ZF Friedrichshafen AG, Aisin Corporation etc. These companies are investing heavily on Automotive Software and Electronics to increase their customer base.

§ November 2021: NXP and Ford Collaborate to Deliver Next-Generation Connected Car Experiences and Expanded Services across its global fleet of vehicles, including the 2021 Ford F-150 pickup, Mustang Mach-E and Bronco SUVs

§ October 2021: NXP and Partners Test Advanced V2X Application Scenarios for Collision-Free Driving. V2X electronics can help protect bikes and other road users from accidents

§ February 2021: Microsoft and Bosch partnered to build a vehicle platform to streamline and accelerate development and deployment of vehicle software for cars. The partnership aimed at integrating cars with cloud to allow software downloads to happen easily and to reduce technical complexities in development

§ May 2019: Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, today introduced the RX23E-A Group 32-bit RX microcontrollers (MCUs), combining high-precision analog front end (AFE) and an MCU on a single chip

§ The two biggest technology companies in China Baidu and Alibaba are aggressively developing platforms for connected cars, which is further expected to drive the demand for automotive software for connected services in China and overall Asian market

“Automotive Software and Electronics Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1.     By Component (Software, ECUs/DCUs, Sensors, Power electronics (excl. battery cells), Other electronic components)

2.     By Software domain (OS and middleware, Body and energy, Powertrain and chassis, Infotainment, ADAS and AD)

3.     By ECU/DCU domain (AD (Autonomous driving), Chassis, Infotainment, ADAS, Body, Powertrain)

4.     By Sensor domain (Body, Chassis, Powertrain, ADAS/AD)

5.     By Power electronics domain (BMS (Battery management system), DC/DC converter, CMC (Cell management controller), On-board charger, BJB (battery junction boxes), E-motor, Inverter)

6.     By Other electronic components domain (Harness, others)

7.     By Vehicle Type (Volume car, with ICE powertrain, Purpose-built Robo-taxi as BEV, Premium car as PHEV)

8.     By Region (North America, Europe, Asia-Pacific, Rest of World)

9.     By Company (Robert Bosch, NXP Semiconductors, Renesas Electronics, BlackBerry Limited, NVIDIA, Continental, Denso Corporation, Magna International, ZF Friedrichshafen AG, Aisin Corporation)

Key questions answered in the study:

1.     What are the current and future trends of the Automotive Software and Electronics industry?

2.     How the industry has been evolving in terms of end-user demand and product category?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the Automotive Software and Electronics industry?

5.    What is the customer orientation, purchase behavior, and expectations from the Automotive Software and Electronics suppliers across various countries?