LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global in-vehicle apps market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global in-vehicle apps market will grow at a CAGR of close to 12% during the forecast period. Standardization of product offerings and the use of open-source platforms to reduce the cost of application and firmware development is a major factor driving the market’s growth.
Traditionally, engine capacity, acceleration, and horsepower of vehicles were the basis of competition among automotive manufacturers. However, recently, consumers and OEMs have shifted their focus toward the software or OS used. Software or OS used in the system act as the product differentiator between brands as manufacturers of automotive infotainment systems started adopting the PC-like architectural concept.
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The two emerging market trends driving the global in-vehicle apps market according to Technavio research analysts are:
- Over-the-air updates for software components
- Adoption of high-bandwidth automotive networks
Over-the-air updates for software components
In recent years, the increase in the installation of driver assistance and safety features in automobiles have propelled the use of electronic components in cars. The advent of IVI and connected car technology have increased the complexity in automobiles. Thus, the most crucial part of today's automobiles consists of electronic hardware, software, and applications.
The number of ECUs and program execution in automobiles has grown due to the rise in demand for infotainment systems and connected vehicles. As a result, there is a growing need for software and application updates installed in automobiles. With the number of connected devices increasing, it will not be a cost-effective option for OEMs to provide updates via their dealerships. This might pose a challenge for customers as they will have to visit the dealer frequently for even small software updates. As a result, OEMs have focused their efforts toward the development of remote over-the-air (OTA) update firmware and software update platforms.
“OEMs, such as Tesla Motors have already implemented OTA in their automobiles. Players such as BMW and Daimler, are also planning to introduce OTA in their fleets. As it offers enhanced user experience, this feature can act as a product differentiator for many OEMs,” says a senior analyst at Technavio for research on automotive electronics.
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Global in-vehicle apps market segmentation
This market research report segments the global in-vehicle apps market into the following three major types (infotainment apps, navigation apps, telematics apps) and three major regions (the Americas, APAC, and EMEA).
The infotainment apps segment held the largest market share in 2017, accounting for nearly 41% of the market. The fastest growing type is navigation apps, which will witness an increase of 5% in market share by 2022.
EMEA was the leading region for the global in-vehicle apps market in 2017, accounting for a market share of 44% followed by the Americas and APAC. However, by 2022, APAC is expected to surpass the Americas in terms of market share and capture the second position after EMEA.
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