Q. Covid-19 Impact on Automotive Software Market to Witness a Handsome Growth During 2022-28?
matteasterlin

Covid-19 Impact on Automotive Software Market to Witness a Handsome Growth During 2022-28?

According to the report, the automotive software market is estimated at USD 22.56 billion in 2022 and is likely to grow at a CAGR of 13.36% during 2022-2028 to reach USD 47.88 billion in 2028.
What is automotive software?
Automotive software is designed to support and enhance the experience of operating a motor vehicle. New developments and integrations in the automotive technology world are progressively being implemented as the industry realizes the position of data to a vehicle operator.
COVID-19 Impact
The automotive industry was severely hit by the pandemic in the year 2020. The industry experienced a downshift in global demand. This impact was also felt in the automotive software market directly and the market experienced a decline in sales in the year 2020.
Market Drivers
The growing demand for automotive software is mainly due to stringent government regulations focusing on the vehicle’s safety coupled with the fast adoption of AI and IoT in vehicles to assist better drivers, which is likely to drive the market during the forecast period.


stratview research
0

Answers

2

Views

8

Jun, 2023

News
 0.7 q

Asked in Category

News

News lets us see the different events happening around the world. Televisions, radios, newspapers, and other social media accounts bring different news and scoops everyday; from sports to local and international news. We put our trust in the broadcasting companies that promise us to be a valid and reliable source for current affairs. However, as per observation, fake news are spread everywhere which is purely politicized. Their passion to bring the truth died out. People are easily fooled and deceived. That's how powerful news it. It can make or break someone when manipulation takes over.

  • 2 views overall.
  • Asked on