The 4th Annual Automotive Software Survey by Aurora Labs and TechInsights has revealed a significant increase in enthusiasm for the adoption of electric vehicles (EVs) and software-defined vehicles (SDVs). This trend is being driven by a number of factors, including the increasing affordability and availability of EVs, the growing awareness of the environmental benefits of EVs, and the potential for SDVs to offer a wide range of advanced features and services.
The survey found that 76% of respondents plan to own an EV in the future, with 38% planning to do so within the next three years. This is a significant increase from the 11% of respondents who owned an EV in 2021.
The survey also found that a growing number of consumers are willing to pay for optional vehicle functionality after they have already purchased the vehicle. This suggests that consumers are open to new business models that could bring in additional revenue for automakers.
Key Findings of the Automotive Software Survey :
- Increased enthusiasm for EV adoption: 76% of respondents plan to own an EV in the future, with 38% planning to do so within the next three years.
- Growing demand for advanced features: Consumers are willing to pay for optional vehicle functionality after they have already purchased the vehicle, suggesting that advanced features will be a key differentiator for EVs.
- OTA updates as a new revenue stream: Automakers are expected to generate up to 10% of their revenue from the selling of new features and functions over-the-air in model year 2027.
- Need for partnerships: Only 9% of respondents are very confident that OEMs will have the required software development skills in-house by 2025 to develop advanced E/E architectures.
Implications for Automakers:
The findings of the 4th Annual Automotive Software Survey have a number of implications for automakers. First, it is clear that there is a growing demand for EVs and SDVs. Automakers need to be prepared to meet this demand by developing and launching new EV models, as well as by investing in the development of SDV technologies.
Second, automakers need to focus on developing advanced features and services that will differentiate their EVs from the competition. Consumers are willing to pay for these features, so automakers can use them to generate additional revenue.
Third, automakers need to consider partnering with software companies to help them develop and deploy advanced SDV technologies. Only a small number of automakers have the required software development skills in-house.
Examples of Advanced Features:
Some examples of advanced features that could be offered in SDVs include:
- Personalized driving experiences: SDVs can collect data about the driver’s preferences and habits, and then use this data to personalize the driving experience. For example, the SDV could adjust the seat position, climate control, and infotainment system settings to match the driver’s preferences.
- Predictive maintenance: SDVs can monitor the vehicle’s condition and predict when maintenance is needed. This can help to reduce downtime and extend the vehicle’s lifespan.
- Over-the-air updates: SDVs can receive over-the-air updates for new features and software updates. This means that drivers can always have the latest features and software without having to take their vehicle to a dealership.
- Autonomous driving: SDVs are essential for the development of autonomous vehicles. SDVs can provide the necessary computing power and software platform for autonomous driving systems.
Conclusion:
The 4th Annual Automotive Software Survey has shown that there is a growing demand for EVs and SDVs. Automakers need to be prepared to meet this demand by developing and launching new EV models, as well as by investing in the development of SDV technologies.
Automakers also need to focus on developing advanced features and services that will differentiate their EVs from the competition. Consumers are willing to pay for these features, so automakers can use them to generate additional revenue.
Finally, automakers need to consider partnering with software companies to help them develop and deploy advanced SDV technologies. Only a small number of automakers have the required software development skills in-house.
Also, find out about EV Software Companies in the Market.
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