- SDVerse paves the way forward to a software-defined future by connecting buyers and sellers of automotive software, enhancing transparency, and reducing inefficiencies, cost, and time to market
- Major industry leaders such as General Motors, Magna, Wipro, Ampere (Renault Group), FEV, Forvia, HL Mando, NXP Semiconductors, TTTech Auto, Valeo, Cummins, Bosch Engineering Group, PopcornSAR, and SODA.Auto are the first to join the marketplace
- The expansive ecosystem streamlines procurement and accelerates development cycles by transforming how automotive software is sourced, developed and integrated, enabling companies to innovate faster, and more efficiently
DETROIT, Sept. 30, 2024 (GLOBE NEWSWIRE) — SDVerse, a B2B marketplace for buyers and sellers of automotive software, today announced the first-ever automotive software marketplace is now live and open to the automotive industry for use. Designed to meet the evolving needs of the automotive industry, SDVerse includes onboard and offboard software, tools, and services. The marketplace offers robust product discovery and matchmaking capabilities where vendors can showcase their software features while enabling buyers to easily search, securely communicate, compare products side by side, and select the best software products to meet their needs.
Backed by founding members General Motors (GM), Magna, and Wipro, SDVerse’s standard-agnostic marketplace is available to all original equipment manufacturers (OEMs), suppliers, and companies with relevant automotive software offerings and tools. With automakers currently allocating 25% to 30% of their research and development (R&D) budgets to software, the need for a one-stop shop for automotive software systems is critical for the industry to expand access to new innovations, help drive down costs and allow for OEMs to develop software more quickly.
According to McKinsey & Company, the global automotive software market is projected to reach $84 billion by 2030, more than doubling its size since 2020. This rapid growth may outpace the growth of software development talent pools. The current software model will struggle to bridge the gap without impacting profitability and slowing the industry’s ambitions for software-defined vehicles. SDVerse’s marketplace addresses these challenges, delivering significant benefits across the automotive sector.
“Automotive software development is evolving at an extraordinary pace, compelling the industry to rethink how we deliver unique features more quickly,” said Prashant Gulati, CEO of SDVerse. “The launch of the SDVerse marketplace marks a significant milestone, providing a dedicated ecosystem for buyers and sellers of automotive software. This will broaden access to innovative solutions, enable companies to integrate essential solutions more efficiently, and overcome current inefficiencies in implementing automotive software by providing a transparent marketplace that buyers and sellers can trust.”
Key features and benefits of SDVerse include:
- Reduced cost, time and complexity: enables software reuse, increasing quality and reducing duplication of effort, and capitalizes on economies of scale through bundled orders. By connecting buyers and sellers in a transparent marketplace, SDVerse reduces the time from product discovery to RFQ generation by up to 80%, resulting in significant cost savings and optimized resource allocation.
- Improved resource allocation: allows OEMs and suppliers to focus engineering resources for maximum efficiency through make-or-buy decisions, reducing time spent on redundant, and non-differentiated software development.
- Increased revenue for sellers: expands client base and provides new opportunities to monetize existing intellectual property while shortening the sales cycle.
- Innovative software sourcing: enables companies to source software independently from hardware offering a viable alternative to OEM insourcing for software development, leading to the acceleration of software commercialization.
“SDVerse is a platform focused on the speed and sharing that are essential in our industry today,” said Kristin Toth, Executive Director of Electrical Systems and Software at General Motors. “We look forward to using this platform and are committed to a goal of driving more software standardization.”
“The demand for software-defined vehicles is rapidly growing, and SDVerse can significantly increase the share of software reuse, speeding up development timelines and enhancing overall quality,” said Joerg Grotendorst, Senior Vice President, Corporate R&D at Magna. “This results in reduced costs for the end customer and establishes a more efficient, innovative framework for the automotive industry moving forward.”
“The automotive software industry is poised for rapid growth, and while the availability of skilled developers presents a challenge, it also opens exciting opportunities for innovation. Traditional methods of sourcing software are evolving, creating opportunities to optimize costs and accelerate the path toward achieving software-defined vehicles. SDVerse, as a dedicated marketplace for automotive software, realizes this opportunity by providing streamlined access to quality solutions, ensuring the industry stays ahead of its evolving technological goals,” said Srikumar Rao, Global Head, Wipro Engineering Edge.