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Home Business Mobility

IDTechEx Forecasts Software-Defined Vehicles Market to Be Worth over $700bn by 2034

by Techeconomy
January 17, 2024
in Mobility
0
Software-defined vehicles
Software-defined vehicles (Credit: AdobeStock)

Software-defined vehicles (Credit: AdobeStock)

UBA
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IN THIS REPORT, James Falkiner, Technology Analyst at IDTechEx looks at:

  • Software-Defined Vehicles:
  • An extensive discussion on how software is becoming a key differentiator for automakers and consumers, enabling new features, services, and business models, with a look at key market players, industry trends, and granular market forecasts covering both software sales and hardware sales.
  • V2X and Connected Vehicle Technology:
  • An introduction to automotive radio access technologies (RATs) such as DSRC, C-V2X, ITS-G5, 4G, and 5G and their regulation worldwide.
  • V2X Use Cases for Safety and Sustainability: How V2X communication can enable use cases that improve safety, efficiency, and sustainability.
  • V2X ITS Hardware: A comparison of the key players and products in the V2X hardware market
  • Autonomous Vehicle Connectivity: How connectivity is essential for supporting autonomous vehicles.

Connected and Software-Defined vehicles (SDVs) represent a new paradigm for automakers and consumers.

Whereas older ICE vehicles were a conglomeration of 70+ Electronic Control units, kilometers of wiring, and many thousands of components, the new era of vehicles can be more centralized, connected, and convenient, bringing benefits to both the consumer and OEM.

The most basic form of SDV is a vehicle where the user experience is affected in some way by the software in a vehicle.

However, vehicles can become more ‘software-defined’ as the number of software-based features on the vehicle increases, unlocking new experiences such as allowing drivers to update or upgrade their vehicle via over-the-air updates or allowing passengers to watch on-demand movies on the go.

Generally, a software-defined vehicle requires a constant cellular connection (4G or 5G), a large, touch-enabled screen, and a powerful central compute system that is also connected to the vehicle’s constituent components.

Many SDVs also take advantage of third-party apps and in-vehicle payments to add more features and convenience to the user.

Software-defined vehicles
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Credit: IDTechEx

Categorizing and comparing software-defined vehicles can be difficult, as almost every vehicle released in the last 5-10 years is arguably ‘software-defined’ in some way.

Details: IDTechEx gained a comprehensive understanding of the current status of software-defined vehicles.

[Featured Image Credit]

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    Techeconomy

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