Not a single industry operating today exists, that is not at least partially governed by software, and automotive industry is no different. In 2008, a conservative assessment of the average software value per car was $425 and it is estimated to increase to $575 by 2020 , indicating a rise in value of over 35%. Furthermore, the worldwide market value of automotive embedded software is estimated to grow from $30 billion in 2008 to over $52 billion in 2020 .
Software is an indispensable part of today’s vehicles and its importance is perhaps the most significant in electric vehicles (EVs). EVs are actively pushing for a bigger share in the automotive market and are poised to replace internal combustion engine vehicles in the coming years as they emerged as a sustainable, green solution to reduce the CO2 emissions.
Software can increase an EV’s energy and cost efficiency, safety and comfort, all of which are significant aspects customers consider when purchasing a new vehicle. In addition to EVs, connected and autonomous vehicles are fast becoming a reality and with them the importance of software in vehicles increases tenfold.
The entrepreneurial case can be realized by identifying the possible automotive software improvements regarding above mentioned aspects important to EV customers (energy and cost efficiency, safety and comfort) and proposing a solution which addresses these challenges.
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