Technology

AI Revolutionizes the Software-Defined Vehicle Market, Growth of USD 76.1 Billion Driven by Autonomous Vehicles (2024-2028) – Technavio Report

Published

1 week ago

September 12, 2024

NEW YORK, Sept. 12, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global software-defined vehicle (SDV) market size is estimated to grow by USD 76.12 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 22.73% during the forecast period. Increasing demand for autonomous vehicles is driving market growth, with a trend towards integration of advanced safety technologies in luxury cars . However, decline in automotive production due to global shortage of semiconductor chips poses a challenge. Key market players include Arm Ltd., Arorian Technologies GmbH, BlackBerry Ltd., Bluekei Solutions Pvt.Ltd., Continental AG, ETAS GmbH, Expleo Group SAS, Keysight Technologies Inc., Larsen and Toubro Ltd., Li Auto Inc., MulticoreWare Inc., NCC Group Plc, NIO Ltd., NTT DATA Corp., NXP Semiconductors NV, Real-Time Innovations Inc., Rivian Automotive LLC, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Siemens AG, TE Connectivity Ltd., Tesla Inc., u blox AG, Vector Informatik GmbH, XPeng Inc., and Zhejiang Geely Holding Group Co. Ltd..

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Software-Defined Vehicle (Sdv) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 22.73%

Market growth 2024-2028

USD 76121.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

21.28

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 40%

Key countries

US, China, Germany, Canada, and UK

Key companies profiled

Arm Ltd., Arorian Technologies GmbH, BlackBerry Ltd., Bluekei Solutions Pvt.Ltd., Continental AG, ETAS GmbH, Expleo Group SAS, Keysight Technologies Inc., Larsen and Toubro Ltd., Li Auto Inc., MulticoreWare Inc., NCC Group Plc, NIO Ltd., NTT DATA Corp., NXP Semiconductors NV, Real-Time Innovations Inc., Rivian Automotive LLC, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Siemens AG, TE Connectivity Ltd., Tesla Inc., u blox AG, Vector Informatik GmbH, XPeng Inc., and Zhejiang Geely Holding Group Co. Ltd.

Market Driver

The automotive industry is experiencing a shift towards safer and more reliable vehicles, particularly in the luxury segment. With growing concerns over road safety and increasing customer demand for advanced safety features, automotive Original Equipment Manufacturers (OEMs) are incorporating technologies such as emergency brake assist, lane departure warning systems, collision mitigation warning, blind-spot detection, and automatic emergency braking systems. These safety technologies have higher penetration rates in sedans than in SUVs, but are now being introduced on a larger scale in crossovers. Customers’ preferences for safety systems, coupled with safety awareness and ratings by automotive bodies like the New Car Assessment Program (NCAP), have driven the focus on safety features. For instance, the Australasian New Car Assessment Program (ANCAP) conducts safety tests, including frontal crashworthiness and side-impact tests, to determine a vehicle’s safety quotient. These ratings significantly influence customers’ purchasing decisions. In response, automakers are integrating Software-Defined Vehicles (SDV) to enhance safety and meet customer demands. SDVs enable the integration of advanced safety systems and connectivity features, providing real-time data processing and improved vehicle performance. This shift towards SDVs is expected to positively impact the luxury vehicle market during the forecast period.

The Software-Defined Vehicle (SDV) market is experiencing significant growth, particularly in the area of Hybrid Electric Vehicles (HEVs). Key trends include the use of Hybrid powertrains, Battery Management Systems, Electric Motor Control, Energy Regeneration, Human-Machine Interfaces (HMIs), and Cybersecurity. These innovations aim to improve vehicle performance, efficiency, and safety. SDVs also face challenges such as Safety and Environmental Regulations, Hardware configurations, Faults, and Recall campaigns. Logistical challenges arise from the need for Over-the-Air updates and Online fixes, which require Cybersecurity measures to prevent cyberattacks. The market is also seeing advancements in areas like Infotainment, Connectivity and Security, Autonomous Driving, Navigation, and V2X Communication. However, the complexity of these Software systems can lead to operational costs and potential risks from Remote Hacking. The future of the SDV market lies in balancing innovation with security and regulatory compliance.

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Market Challenges

The global semiconductor chip shortage is negatively impacting the automotive industry and, consequently, the growth of the software-defined vehicle (SDV) market. As vehicles become more reliant on advanced electronic systems and software-driven functionalities, the disrupted automobile manufacturing process due to the chip shortage has led to production delays and reduced output. Automakers are prioritizing critical vehicle components, causing delays in software development and integration investments. This bottleneck hinders the adoption of innovative software-driven technologies and stifles revenue opportunities for SDV vendors. The chip shortage has forced carmakers to idle production lines, resulting in reduced automotive production in various parts of the world. For instance, Ford Motor Co. And Renault have announced production reductions due to chip shortages. This production slowdown will hinder the growth of the global SDV market during the forecast period.The Software-Defined Vehicle (SDV) market is experiencing rapid growth as technologically advanced vehicles become the norm. OEMs and Tier 1 hardware providers collaborate to create safer, more connected vehicles. However, challenges persist. Safety protocols and encryption procedures are crucial for secure SDV platforms. Monetization through software-centric business models and continuous customer engagement are essential. Remote diagnostics, fleet management, and software updates are key features. Security patching and vehicle safety are top priorities, as interconnected systems increase vulnerabilities to cyber threats. Standardizing hardware and autonomous driving technology are critical to overcoming legacy OEMs’ resistance to software upgrades. SemiSDVs offer a middle ground, while cloud-native technologies and opensource platforms enable innovation. Driving assistance, connectivity, digitalization, and electrification are driving the market forward. NIO, Tesla, and other automotive manufacturers are leading the charge towards autonomous driving and electrification, using advanced technologies like sensor fusion and vehicle-to-everything (V2X) communication. The future of the SDV market is bright, but addressing cybersecurity concerns and ensuring standardization will be crucial for success.

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Segment Overview

This software-defined vehicle (sdv) market report extensively covers market segmentation by

Type 1.1 Semi-SDV1.2 SDVVehicle Type2.1 Passenger cars2.2 Commercial vehiclesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Semi-SDV- The Software-Defined Vehicle (SDV) market is experiencing significant growth due to the increasing demand for customizable automobiles and the rapid advancement of technology. Semi-SDVs, a subset of SDVs, are gaining popularity as they allow users to manage and control underlying vehicle hardware and capabilities through software. Infotainment systems, sensors, diagnostics, navigation, and battery charging are just a few functions being simplified by SDV software. This software offers an economical solution for modifying vehicles to meet changing user needs, eliminating the need for costly hardware upgrades. The automotive industry’s focus on comfort and convenience has also driven the development of SDVs. With the competition increasing and sales growing in the global automotive market, the development timeline for innovative SDV technologies and their adoption among Original Equipment Manufacturers (OEMs) are decreasing. Additionally, the increasing dependency on automation technologies in vehicles necessitates improvements in safety and security. Semi-SDVs, which can be controlled both automatically and manually, are designed to meet these requirements while ensuring the driver remains ready to take control. This shift towards semi-SDVs is expected to positively impact the growth of the SDV market.

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Research Analysis

Software-Defined Vehicles (SDVs) represent the future of the automotive industry, offering advanced features and capabilities through complex software systems. Unlike conventional vehicles with fixed hardware configurations, SDVs allow for over-the-air updates, online fixes, and continuous customer engagement. However, these vehicles also present unique challenges. Faults in software can lead to recall campaigns, and logistical challenges arise from the need for constant connectivity and remote diagnostics. Cyberattacks and cyber threats, including remote hacking, are significant concerns due to the interconnected nature of SDVs. Navigation, autonomous driving, and V2X communication are just a few of the advanced technologies enabled by SDVs. However, software development shortcomings, safety protocols, and encryption procedures must be addressed to ensure vehicle safety. Monetization of SDV platforms and a software-centric business model offer new opportunities for OEMs, Tier 1 hardware providers, and chip providers. Standardizing hardware and addressing cyber vulnerabilities are essential to the automotive life prolongation and the adoption of autonomous driving technology. Cloud-native technologies are also crucial for managing fleet operations, software updates, and security patching.

Market Research Overview

Software-Defined Vehicles (SDVs) represent the future of the automotive industry, offering advanced technologies and capabilities that go beyond conventional vehicles. Unlike traditional vehicles with fixed hardware configurations, SDVs allow for over-the-air updates and online fixes, reducing operational costs and improving vehicle safety. However, these complex software systems also present new challenges, such as cyberattacks and vulnerabilities. SDVs enable features like autonomous driving, navigation, and V2X communication through continuous software updates and security patching. The software-centric business model offers opportunities for monetization and customer engagement, while fleet management and remote diagnostics become more efficient. However, SDVs also face logistical challenges, including standardizing hardware and ensuring cybersecurity and safety protocols. OEMs, technologically advanced vehicle manufacturers, and Tier 1 hardware providers collaborate to address these challenges and create a seamless connected ecosystem. SDVs also include semi-SDVs, which offer a hybrid approach between hardware-centric and software-centric designs. The automotive industry’s digitalization and electrification trends further drive the adoption of SDVs, with electric mobility and hybrid powertrains becoming increasingly popular. Despite the benefits, SDVs also present new challenges, such as cyber threats and vulnerabilities, which require ongoing attention and innovation from the industry. The future of the SDV market lies in advanced technologies, autonomous driving, and the integration of cloud-native technologies and opensource platforms.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeSemi-SDVSDVVehicle TypePassenger CarsCommercial VehiclesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

PEAC Institute Launches “24 Hour Pause for Peace: A Global Concert”

Published

2 hours ago

September 21, 2024

24 Hour Pause for Peace Will Be the Largest Peace Initiative Ever Worldwide, Unifying 96 Countries on Six Continents Through Music

MONTCLAIR, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — On this International Day of Peace, PEAC Institute, part of the 2017 Nobel Peace Prize winning team, has launched “24 Hour Pause for Peace: A Global Concert,” the largest peace initiative ever organized worldwide through music.

“Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.”

On October 4, 2025, this ground-breaking program will activate a massive network of youth ensembles that spans 96 countries and territories across six continents and host two 24-hour commercial festivals featuring some of the biggest acts in music and entertainment. This extraordinary day-long event will be live-streamed globally, allowing millions to participate simultaneously.

“It has been 40 years since Live Aid and We Are the World historically unified and changed the world through music,” said Rebecca Irby, president and CEO of PEAC Institute. “With our planet riddled with post-pandemic fatigue, climate chaos, unsettling wars and more, we believe it is time to create a new trajectory for humanity by inviting everyone around the globe to a 24 hour pause for peace to enjoy the sounds of music and feel the transformative power of human connection,” Irby explained.

Additionally, 24 Hour Pause for Peace plans to amass more than 100 million ambassadors to sign an appeal to the United Nations calling for a 24 hour ceasefire during the children’s concerts and commercial music events. All countries are welcome to participate with no exceptions. One of Pause for Peace’s core beliefs is everyone has the right to be equally respected and heard, particularly in collectively calling for peace.

“Achieving this ambitious global endeavor requires the support and participation from the most impactful brands, organizations, and influential leaders, artists and celebrities,” said Jennifer McKenna, 24 Hour Pause for Peace CEO.

Pause for Peace is a $165 million global initiative. Currently, it is in its first phase of raising seed capital through consumer brand-aligned sponsorships and private donors. Funding for the program is tax-deductible through PEAC’s 501(c)(3) status.

“We have assembled an exceptional executive team of change agents in entertainment, production, consumer marketing, charitable development and global security to make this extraordinary, worldwide peace event happen.” McKenna added. “Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.” To become involved in 24 Hour Pause for Peace: A Global Concert as a sponsor, partner or donor, sign up to be an Ambassador, or for more information, go to www.24hourpauseforpeace.org.

About PEAC Institute

PEAC Institute is a 501(c)(3) nonprofit organization based in the United States. PEAC stands for peace, education, art and communication. It was formed in 2016 through a campaign with partner organization, International Campaign to Abolish Nuclear Weapons (ICAN), which garnered a 2017 Nobel Peace Prize. PEAC now holds special consultative status with the Economic and Social Council of the United Nations and has a global presence working with countries and territories worldwide to reach the most marginalized youth through art and communication activities to help them explore and express. For more information on PEAC Institute, go to www.peacinstitute.org.

Media Contact

Chadwick Boyd, Pause for Peace, 1 4046060611, chadwick@24hourpauseforpeace.org, www.24hourpauseforpeace.org

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SOURCE Pause for Peace

Technology

Global Times: China opens 12 nuclear research facilities to global scientists

Published

3 hours ago

September 21, 2024

The involved facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

VIENNA, Sept. 21, 2024 /PRNewswire/ — China will open 12 nuclear research facilities and testing platforms to international scientists and institutions to enhance global cooperation, a senior Chinese official said here on Monday.

These include the China Advanced Research Reactor, the new-generation tokamak device Huanliu-3, and the Beishan Underground Research Laboratory, Liu Jing, vice chairman of the China Atomic Energy Authority (CAEA), said at a meeting on the sidelines of the International Atomic Energy Agency’s (IAEA) annual general conference.

The facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

Monday’s meeting, themed “Share for Development,” was organized by the CAEA to promote international cooperation in nuclear technology research and development, as China marks the 40th anniversary of its accession to the IAEA.

Yu Jianfeng, chairman of China National Nuclear Corporation, said at the event that the company aims to deepen cooperation with the IAEA and expand international collaboration. He expressed hope that opening China’s nuclear research facilities will contribute to advancing nuclear technology globally.

IAEA’s Deputy Director General Mikhail Chudakov commended China’s remarkable achievements in nuclear energy development and highlighted the long-standing, fruitful relationship between the IAEA and the CAEA.

Welcoming China’s decision to open up more of its nuclear research and development facilities, Chudakov said the move will further strengthen the agency’s technical capacity to support its member states.

On Monday evening, the CAEA and China’s permanent mission to the United Nations (UN) and other international organizations in Vienna jointly held a reception at the UN headquarters in Vienna to celebrate the 40th anniversary of China’s accession to the IAEA. More than 200 participants, including IAEA representatives and foreign envoys to Vienna, attended the event.

Li Song, China’s permanent representative to the UN and other international organizations in Vienna, said at the reception that China and the IAEA have expanded practical cooperation and jointly promoted the development of nuclear energy over the past 40 years.

China, he said, will continue to strengthen collaboration with the IAEA and its member states to address emerging challenges in international security, safeguard the global non-proliferation regime, and promote the use of nuclear energy and technology for the benefit of the Global South.

At the reception, Liu, Li and IAEA Director General Rafael Grossi jointly unveiled a bronze statue of Qian Sanqiang, a renowned Chinese nuclear physicist and one of the founders of China’s nuclear industry.

The statue, donated by China, will be permanently displayed at the IAEA headquarters, alongside sculptures of Polish-French physicist Marie Curie and other prominent figures who have made significant contributions to the peaceful use of nuclear energy.

Contact: xutianshu@globaltimes.com.cn

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SOURCE Global Times

Technology

The Ar-King of Spirits: Ed Arking’s Impact on the Liquor Industry

Published

4 hours ago

September 21, 2024

In the interest of providing luxury liquors in a convenient and stress-free format, Served Neat was born. When asked about his intentions for the company, Ed states, “My goal with Served Neat is to create a one-stop shop where customers can easily discover these rare gems.”

MOORESTOWN, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — Served Neat is an emerging online platform with a curated selection of some of the world’s most popular luxury spirits. The website offers daily flash deals that highlight a variety of high-end international brands including Pappy Van Winkle, Buffalo Trace, Clase Azul, and more.

“While there are websites selling spirits, none have the decades of experience that we bring from WTSO. Served Neat will offer not only incredible bottles but also the best customer service in the industry.”

Ed and Joe Arking, the father-son team behind the concept of Served Neat, have decades of experience hand-selecting and supplying sought-after liquors. Ed Arking, CEO of New Jersey’s Roger Wilco, grew up in the world of wine and spirits and formed his own business aspirations.

“Growing up, I watched my father navigate and succeed in the ever-evolving wine and spirits industry,” Ed explains. “While I always aspired to create something similar, I knew I needed to wait for the right moment.” Ed has gone on to manage his own liquor store and lead projects for up-and-coming brands, such as the vodka-infused and non-carbonated Smooth Water.

As he evolved in his career, Ed discovered the perfect time to make his lifelong vision a reality. He recalls, “I noticed a gap in the market—especially for whiskey and tequila. These categories have surged in popularity, making it difficult for the everyday consumer to find those elusive sought-after allocated bottles.”

When it comes to Served Neat, quality and knowledge is key. Ed adds, “While there are websites selling spirits, none have the decades of experience that we bring from WTSO. Served Neat will offer not only incredible bottles but also the best customer service in the industry.”

Served Neat is the sister company to WTSO and The Wine Market, two online platforms dedicated to sourcing and distributing top-notch wines from every corner of the globe.

At The Wine Market, an online marketplace for the world’s most popular wine brands, convenience and quality are key. Each bottle in their curated collection is a testament to exceptional flavor and craftsmanship.

Since 2006, WTSO has enjoyed creating a unique wine experience and sharing it with new beginners and seasoned connoisseurs alike. Using an extensive network of wineries and wine makers, WTSO connects customers to thousands of brands from top wine appellations around the globe. The strong relationships they’ve formed within the wine world allow the business to deliver authentic and high-quality bottles to homes across the United States.

Wine and spirits lovers alike are invited to explore Served Neat, WTSO, and The Wine Market to find their next favorite bottle. Visit their websites to learn more about these one-of-a-kind online marketplaces!

Media Contact

Julie Blount, WTSO, 1 8669572795, marketing@wtso.com

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SOURCE WTSO