COVID-19 Recovery Analysis: Automotive Software Market | Increased Adoption of ADAS in Mass Produced Vehicles to Boost the Market Growth | Technavio
Summary
LONDON--(BUSINESS WIRE)--Technavio has been monitoring the automotive software market and it is poised to grow by $ 10.70 bn during 2020-2024, progressing at a CAGR of over 9% during the forecast period. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Increased adoption of ADAS in mass produced vehicles has been instrumental in driving the growth of the market. However, rising complexity in software architecture and higher production costs for OEMs and suppliers might hamper the market growth. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.