New Delhi, July 25 -- The global automotive software and electronics market is projected to grow to USD 519 billion by 2035, expanding at a compound annual growth rate (CAGR) of 4.5 per cent - more than four times faster than the overall vehicle market - as software-defined vehicles, artificial intelligence (AI) and advanced driver assistance systems (ADAS) reshape the industry, according to a McKinsey report.

The report titled "The Automotive Software and Electronics Market Through 2035" said that while the global vehicle market is expected to grow by only around 1 per cent annually, the software and electronics segment will see much stronger expansion as automakers increasingly differentiate vehicles through software, connectivity and ...