Automotive software platforms, software services, and applications are growing rapidly and will have a profound impact on the whole industry over the next six years. The value of today’s vehicles is shifting to software and away from mechanical hardware.
IHS Markit estimates that more than 50% of the total cost of developing a vehicle today is related to software or electronic components. As these hardware components become more software-driven, many automakers are openly repositioning themselves as services-based companies by providing things such as UBI and OTA updates.
The pivot toward services is crucial for all auto manufacturers because there are intense competitive pressures on the manufacturing side of the business. Automakers and automotive-specific suppliers also face pressure from software firms such as Apple, Google, and Amazon who are also making inroads into this space.
This report will give perspectives on how automotive software, apps, and services will develop and which segments are the most important.
This report is available to SAS Service subscribers
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Colin Bird-Martinez is a senior analyst with IHS Markit, primarily focused on Software, Apps, and Services (SAS). Along with being a subject matter expert on SAS solutions – such as over-the-air (OTA) updates, cybersecurity and automotive software platforms — Bird-Martinez also manages IHS Markit’s consumer market research as it pertains to automotive technology behaviors and attitudes for new car intenders, with a specific focus on connected car, autonomous car, premium audio, and in-car user experience insights.
Prior to joining IHS Markit, Colin worked for Mintel, a market research firm, as an automotive analyst focusing on consumer behaviors and attitudes as it related to light-vehicle retailing, hybrids & EVs, motorcycles, vehicle financing, and auto service care, among other subjects. In addition to Mintel, he previously worked for Cars.com as an automotive editor in automotive research/media publishing.
Staying abreast of automotive sector/topic-specific developments, trends, and competitive activity can be time-consuming. With many sources available, it is often difficult to find critical and reliable market information that stakeholders of the automotive industry need. Conducting business analysis, product, or market strategy assessments without validated market data is risky.
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