Autonomous driving will be the fastest growing automotive software market by 2027, according to a report by MarketsandMarkets


Disruptive technology has started to deepen its roots in the automotive industry and over time we have seen the increasing adoption of features such as ADAS, telematics or simply connected mobility solutions.

Indicating this, a report by MarketsandMarkets states, “The global automotive software market size is projected to grow at a CAGR of 13.1% to reach $40.1 billion by 2027, from $21.7 billion in 2022. Compliance with standards for energy efficiency, comfort and convenience, and the need to reduce vehicle downtime will drive the automotive software market.

With growing consumer interest in connected cars and ADAS solutions, the automotive industry is expected to show a decent growth chart. Features such as safety, comfort and luxury are seen as key growth drivers that enable seamless autonomous communication between driver and vehicle.

While experts are betting that passenger cars are the dominant segment, the automotive software market will see higher penetration of software services compared to the commercial vehicle segment. According to the report, the increase in disposable income in developing Asia-Pacific countries has fueled the demand for passenger cars with technologically advanced services and hence the demand for such careers is also hot.

Major industry players have recently signed strategic partnerships and are open to such collaborations with such manufacturers that would help them in terms of market expansion, R&D and product advancements in times of change. the only constant. This is where the software development and coding trades held firm and we began to focus on exploiting the prospects of custom-coded software. It requires excellent software career opportunities in the automotive industry and success is a guarantee.

Read more: AI-powered vehicles pave the way for software engineers to build a career in the automotive industry

According to the report, autonomous driving will be the fastest growing automotive software market by 2027. That is why automotive giants have already ventured into Level 2 driver assistance features globally entire.

India still has a long way to go to avoid full utilization of the connected vehicle service experience. However, the transition is on the road and we are not very far from the demand for high-level automation in the near future.

Read also: Top 5 careers to explore in the automotive industry

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