Electronics and Software Predicted to Account for 50% of Total Car Costs by 2030
New Awards Program will Recognize Automotive Industry Trailblazers Driving Once-in-a-Century Transformation
LOS ANGELES, CALIFORIA and WATERLOO, ONTARIO – September 15, 2022 – (Motor Sports NewsWire) – MotorTrend, the leading global automotive media company, announced today that it is joining leading software company, BlackBerry Limited (NYSE: BB; TSX: BB) to launch the Software-Defined Vehicle Innovator Awards. The new awards program looks to celebrate the innovators and pioneers who are leading the automotive industry’s once-in-a-century transformation from hardware to software which will redefine how cars are designed, built, driven and experienced.
For more than a century the bulk of a car’s value was in its mechanical, hardware, and other physical components. However, as personal technology has evolved, software and connected services will soon become the most important drivers of value, and a key differentiator, for automobile manufacturers. With the average new car containing more than 100 million lines of code and thousands of different computer chips already in use, independent research predicts that by 2030, electronics and software will account for 50% of car costs, up from about 30% today. This represents a fundamental shift in the automotive industry, as the software opportunity in autonomous cars will grow from less than one billion dollars today to $25 billion. According to recent forecasts, revenue from software-driven vehicles could account for as much as 50% of the automotive industry’s future earnings. *
As the creator of the most prestigious automotive awards – Car, Truck and SUV of the Year and its annual Power List – MotorTrend is joining forces with BlackBerry, whose BlackBerry® QNX® technology is embedded in over 215 million vehicles worldwide, to encourage OEMs and automotive suppliers to nominate outstanding pioneers, leaders and domain experts in recognition of their extraordinary work using software to push industry boundaries andimprove the driving experience for consumers.
“Speaking with automakers and Tier 1s around the world, nothing is more important to them than software and electronics as both allow them to deliver compelling in-car experiences and differentiate against the competition,” said Mark Wilson, Chief Marketing Officer, BlackBerry. “To that end, we’re thrilled to be teaming up with MotorTrend to…
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