Germany's Bosch expects tech-driven car market to boost software sales

BERLIN, Jan 5 (Reuters) - ⁠Automotive ⁠supplier ‍Bosch expects strong software sales over the coming years thanks largely ‍to an increasingly tech-driven car market, ​the German company said on Monday at ​the CES trade show in Las Vegas.

Bosch expects annual sales in software and services of over ​6 billion euros ($7.01 billion) by the start of next decade, it said ​in a statement, attributing some two thirds of this ‌to the mobility segment.

Further ahead, sales of software, sensor technology, high-performance ​computers and network components ⁠are forecast to double by the mid-2030s to well over ‌10 billion euros.

The company generated sales of 90.3 billion euros in 2024.

Bosch, which makes ‌components for cars as well as kitchen appliances ‌and other consumer goods, presented new technology systems for drivers at the trade show, including ‍an AI-based cockpit and by-wire systems for autonomous driving.

It also ⁠announced over 2.5 billion euros in investment in artificial intelligence by the end of 2027.

($1 = 0.8561 euros)

(Reporting by Rachel More, Editing by Friederike Heine)

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