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

1. Software De?ned Vehicle Market worth USD 1,237.6 billion by 2030 | MarketsandMarkets NEWS PROVIDED BY MarketsandMarkets Jul 17, 2024, 06:00 ET  CHICAGO, July 17, 2024 /PRNewswire/ -- Software De?ned Vehicle market size is projected to grow from USD 213.5 billion in 2024 to USD 1,237.6 billion by 2030, at a CAGR of 34.0%, according to a new report by MarketsandMarkets. There are various factors that a?ect the growth of demand for SDVs in the global market. Receiving over-the-air updates guarantees that customers' car software is always up to date with the newest features and vehicle security improvements. Due to the regular software upgrades can often cure issues remotely, OEMs will pro?t greatly from lower recall costs. Furthermore, new business models that allow for real-time car diagnostics and problem solving, such as remote diagnostics, improve maintenance process.  MarketsandMarkets Logo Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp? id=187205966 Browse in-depth TOC on "Software De?ned Vehicle Market" 

2. 118 - Tables 93 - Figures 238 - Pages Software De?ned Vehicle Market Scope: Report Coverage Details Market Revenue in 2024 USD 213.5 billion Estimated Value by 2030 USD 1,237.6 billion Growth Rate Poised to grow at a CAGR of 34.0% Market Size Available for 2020–2030 Forecast Period 2024-2030 Forecast Units Value (USD Billion) Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends SDV Type (Semi-SDV. SDV), E/E Architecture (Distributed, Domain Centralised, Zonal Control), Vehicle Type (Passenger Car Segments Covered and Light Commercial Vehicle) and Region Geographies Covered Asia Pacific, North America, and Europe. Report Highlights Updated financial information / product portfolio of players Key Market Opportunities SDV platform monetization Key Market Drivers Reduced recall and manufacturing costs SDV segment is expected to have signi?cant growth opportunities in global Software De?ned Vehicle market. During the forecast period, SDVs are expected to have largest growth prospects. Unlike conventional vehicles, which mostly rely on prede?ned hardware con?gurations, SDVs are more ?exible 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 ?exibility 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 di?erentiation. Further, it prolongs the life of automobiles by upholding software upgrades. "China to lead the Software De?ned Vehicle market in Asia Paci?c." 

3. China is the largest vehicle market in the Asia Paci?c and one of the biggest automobile markets worldwide, is expected to have signi?cant growth in the Software De?ned 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. Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp? id=187205966 Software De?ned 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 De?ned Vehicle Industry:

4. Prominent players in the Software De?ned 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: By Company Type: Tier I – 42%, Tier II – 40%, and OEM –18%, By Designation: C-level Executives– 57%, Directors – 29%, and Executives – 14% By Region: North America – 39%, Europe – 33%, and Asia Paci?c – 28% Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=187205966 Software De?ned Vehicle Industry Recent Developments: In June 2024, XPENG Inc. partnered with NVIDIA Corporation for the adoption of the NVIDIA DRIVE Thor platform for its next-generation EVs. This platform will power XPENG's XNGP AI- assisted driving system, enhancing intelligent driving capabilities. XPENG launched the G6 Coupe SUV, G9 SUV, and P7 Sedan equipped with NVIDIA DRIVE Orin, boasts continuously upgraded AI capabilities through over-the-air updates.  In June 2024, XPENG Inc. launched its all-new G6 electric mid-size SUV, positioning it as a strong contender against established rivals like the Tesla Model Y in the Australian market. It is designed on XPENG's SEPA 2.0 platform. The vehicle also features bidirectional charging (V2X) with V2L support up to 3.3 kW AC, making it versatile for energy transfer to external devices. This SUV accelerates from 0 to 100 km/h in 6.9 seconds and reaches a top speed of 200 km/h, powered by a rear-wheel drive system generating 190 kW (258 PS) of total power and 440 Nm of torque. Its battery architecture operates at 800 V, and it supports up to 11 kW AC charging. In June 2024, Rivian launched the second generation of the R1 lineup i.e., R1S and R1T models with software-de?ned technology. These vehicles feature a streamlined electrical architecture, reducing ECUs from 17 to 7 and signi?cantly cutting down wiring. The new Rivian Autonomy Platform, powered by advanced sensors and AI, enhances driving assistance capabilities. In- vehicle connectivity includes digital car keys via Apple Wallet and Google Pixel, a rich entertainment system with streaming video and Apple Music integration, and an interactive user interface powered by Unreal Engine. Software De?ned Vehicle Market Size - Key Bene?ts of Buying the Report: 

5. The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Software De?ned Vehicle market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities. This report provides insights on: Analysis of key drivers (Reduced recall and manufacturing costs, personalized client engagement, integration of ADAS digital cockpits, and increasing adoption of 5G technology), restraints (Limited over-the-air updates and increase in risk of cyberattacks), opportunities (Remote diagnostics, Pay-per-use mobility, SDV platform monetization and Digital twin for emergency repair), and challenges (Complex software updates and security patching and risk of data breach) in?uencing the growth of the Software De?ned Vehicle market. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Software De?ned Vehicle market. Market Development: Comprehensive information about lucrative markets – the report analyses the Software De?ned Vehicle market across varied regions.  Market Diversi?cation: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Software De?ned Vehicle market. Competitive Assessment: In-depth assessment of market shares, growth strategies, and service o?erings of leading players like Tesla (US), Li Auto Inc. (China), NIO (China), Rivian (US), XPENG Inc. (China), and ZEEKR (China), among others in the Software De?ned Vehicle market. Related Reports: Connected Car Market - Global Forecast to 2030 ADAS Market - Global Forecast to 2030 Electric Vehicle Market - Global Forecast 2030  Autonomous / Self-Driving Cars Market - Global Forecast to 2030

6. Get access to the latest updates on Software De?ned Vehicle Companies and Software De?ned Vehicle Industry Growth About MarketsandMarkets™: MarketsandMarkets™ has been recognized as one of America's best management consulting ?rms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine o?ering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us pro?cient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting ?rms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to- Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To ?nd out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets™ INC. 630 Dundee Road 

7. Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com/ Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg SOURCE MarketsandMarkets 