Software Defined Vehicle Market worth USD 1,237.6 billion by 2030 | MarketsandMarkets

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Software Defined Vehicle Market Scope:

SDV segment is expected to have significant growth opportunities in global Software Defined Vehicle market.

During the forecast period, SDVs are expected to have largest growth prospects. Unlike conventional vehicles, which mostly rely on predefined hardware configurations, SDVs are more flexible and adaptive in nature which allows their functionality to be upgraded and improved over time through software upgrades. Among contemporary OEMS, Tesla has been setting the standard for the switch to SDVs since 2012. Leading OEMs such as Stellantis, BMW, Volkswagen among others are currently in the transition phase, moving from Semi-SDVs to SDVs fully by 2030, including increased flexibility and agility through OTA updates that enable quick response to market demands and problem solving without necessitating physical recalls. This will reduce production costs by focusing on standardizing hardware and software differentiation. Further, it prolongs the life of automobiles by upholding software upgrades.

"China to lead the Software Defined Vehicle market in Asia Pacific."

China is the largest vehicle market in the Asia Pacific and one of the biggest automobile markets worldwide, is expected to have significant growth in the Software Defined Vehicle industry. This will be led by continuous R&D and advancement in the autonomous driving technology by local software mobility providers and sophisticated automotive ecosystems integrating cloud-native technologies. Leading OEMs and technology providers in the country are utilizing open-source platforms to develop next-generation vehicle equipped with software stacks, which enhances SDV capabilities such as driving assistance, connectivity, and digitalization. SDV providers such as NIO, Li Auto Inc., ZEEKR, XPENG Inc. among others currently provide SDVs in China.  Also, these SDV providers are partnering with software mobility providers to enhance their SDV capabilities. For instance, in May 2024, XPENG partnered with TrueEV, an Australia based Electric mobility provider company. TrueEV will handle distribution and retail of XPENG vehicles in Australia, starting with the launch of the XPENG G6 SUV, built on the SEPA 2.0 platform, by the end of 2024, for global markets.

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Software Defined Vehicle Market Dynamics:

Drivers:

1.  Reduced recall and manufacturing costs

Restraints:

1.  Increase in risk of cyberattacks

Opportunities:

1.  SDV platform monetization

Challenge:

1.  Complex software updates and security patching

Key Market Players Software Defined Vehicle Industry:

Prominent players in the Software Defined Vehicle Market include Tesla (US), Li Auto Inc. (China), NIO (China), Rivian (US), XPENG Inc. (China), and ZEEKR (China) and among others.

The break-down of primary participants is as mentioned below:

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Software Defined Vehicle Industry Recent Developments:

Software Defined Vehicle Market Size - Key Benefits of Buying the Report:

This report provides insights on:

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Autonomous / Self-Driving Cars Market - Global Forecast to 2030

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