The in-vehicle app market is projected to grow by 12% from now through 2022. But what’s driving that growth?
A market report published by Technavio said the adoption of over-the-air updates for software and high bandwidth automotive networks were two trends that are and will be responsible for the market’s growth.
Traditionally, engine capacity, acceleration, and horsepower were the basis for competition among automotive manufacturers. But recently, consumers and OEMs have shifted their focus toward the software or OS used. These technologies act as the product differentiator between brands, the report says.
The report divided the global in-vehicle apps market into segments including infotainment apps, navigation apps and telematics apps. It found that the infotainment apps segment held the largest market share in 2017, accounting for nearly 41% of the market. The fastest-growing segment was navigation apps, which will see a 5% increase in market share by 2022.
In recent years, driver assistance and other safety features have also propelled the use of electronic components in cars. As a result, there is a growing need for software and application updates installed in vehicles leading OEMs to focus on developing remote over-the-air (OTA) update firmware and software platforms.
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.