Automotive Communication Technology

Automotive Communication Technology Market to Soar at 15.4% CAGR till 2030 Automotive Communication Technology Market Size, Share and Growth Analysis, Global Industry Analysis, Trends, Regional Outlook, and Forecast 2021 - 2030

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[150+ Pages Report] The automotive communication technology market size in terms of value is projected to reach $ 36.30 billion by 2027, at a CAGR of 15.4% between 2020 and 2027, according to a 2021 study by Precedence Research, the Canada based market insight company.

The study provides the overall revenue of the global automotive communication technology market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.

The global automotive communication technology market research report gives a brief summary of definitions, size analysis, and place of production, sales, applications, types, and major players/key vendors of the automotive communication technology industry. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace. This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

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Growth Factors

Rise in the air pollution with an alarming rate mainly because of carbon emission particularly from the transportation sector is one of the prime factors that drives the market growth for automotive communication technology. To control the emission rate from vehicles government of various regions are significantly switching their transportation sector into green mobility that includes zero-emission vehicles, shared mobility, electric & solar powered vehicles, and so on. These modern renewable sourced vehicles are equipped with new and advanced technologies and hence increase complexity within vehicles. This all triggers the need for better and advanced communication protocol for automobiles.

In addition, rising concern for safety and security spurs the sales growth of luxury vehicles along with vehicles equipped with advanced safety & comfort features. This is primarily attributed to the rising disposable income in developing nations coupled with increase in the road fatality rate. According to World Health Organization (WHO), every year 1.35 million people die because of road accidents and 90% of these deaths are in developing or under-developed regions. This is because of bad health condition of national highways and city roads.

Report Highlights

  • The Asia Pacific leads the global automotive communication technology market because of the largest semiconductor market across the globe
  • MEA is the fastest growing region in the global market owing to high disposable income and prominent growth of infrastructure in the region
  • By bus module, CAN bus dominated the global automotive communication technology market owing to more secure communication between internal ECUs
  • Ethernet is the fastest growing bus module due to its high data transmission rate
  • Body control & comfort leads the global automotive communication technology market because of increasing demand for intelligent body control modules
  • Powertrain is the fastest growing application segment due to rising demand for safe and smooth driving experience
  • Mid-size vehicle class is the front-runner in terms of both revenue as well as growth rate owing to 50% of the world’s population is middle class and is highly affordable for them

Report Coverage:

Report Scope Details
Market Size USD 36.30 billion by 2030
Growth rate CAGR of 15.4% from 2021 to 2030
Base Year 2020
Historical Years 2017-2019
Forecast Period 2021 to 2030
Segments Covered Bus Module, Application, Vehicle Class, Region
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Companies Mentioned Toshiba Corporation, Robert Bosch, Texas Instruments, Broadcom Inc., NXP Semiconductors, Infineon Technologies AG, STMicroelectronics, Renesas Electronics Corporation, Microchip Technology Inc., ON Semiconductor

Regional Snapshots

The Asia Pacific emerged as the global in automotive communication technology market as is one of the most significant automotive market and accounts for prominent revenue share on the global scale. The region held 44.7% of revenue share in the year 2020 and expected to continue its dominance with a growth rate of 11.8% during the analysis period. It accounts for more than three-fifth of the global automobile sales and the share is increasing every year at a significant rate. China and India are the front-runners in the Asian automotive industry and expected to be the most promising regions for the automotive sales growth in the forthcoming years. The prime reason accounting for the growth of these countries is advanced semiconductor market coupled with large consumer base.

On the contrary, Middle East and Africa is the fastest growing market and registers a CAGR of 22.8% during the forecast period of 2021 to 2031. Automotive industry is highly receptive to advanced technologies and MEA is one of the fastest growing regions in terms of technology development. The region is a hotspot for various smart upcoming technologies such as smart home, smart communication devices, smartphones, and smart cars as well.

Further, Automotive industry has been transformed to a greater extent by the influence of these new technologies and hence the approach for forerunner players and new comers to the market also varies. New entrants are adopting different approaches for jumping directly to the new technology penetration while forerunners in the market are focusing on inorganic approaches for their growth such as merger & acquisition, collaboration, investment in research & development. For instance, in 2020, a Dubai-based automotive manufacturer, W Motors plans to move its luxury hypercar centre for production to UAE from its facility in Italy. Therefore, MEA is a promising region for the automotive industry growth.

Related Reports

  • Intelligent Transportation System Market – The global market size was valued at USD 29.69 billion in 2020 and is expected to reach US$ 47.89 Bn by 2030, growing at a compound annual growth rate (CAGR) of 6.3% from 2020 to 2030.
  • Third-party Logistics Market – The global market was valued at USD 919.12 billion in 2020 and is projected to hit US$ 1710.58 Bn by 2027, expected to grow at a compound annual growth rate (CAGR) of 8.3% from 2021 to 2027.
  • Electric Powertrain Market – The global market is expected to reach at a compound annual growth rate (CAGR) 13.8% during forecast period and predicted to hit over USD 200 billion by 2027.

Top Players Contending in the Market:

The key companies are aiming towards advanced innovations and are predictable to dominate the target market. Foremost players inspiring in the global automotive communication technology market are as follows:

  • Toshiba Corporation
  • Robert Bosch
  • Texas Instruments
  • Broadcom Inc.
  • NXP Semiconductors
  • Infineon Technologies AG
  • STMicroelectronics
  • Renesas Electronics Corporation
  • Microchip Technology Inc.
  • ON Semiconductor
  • Rohm Semiconductor
  • Maxim Integrated
  • Melexis NV
  • Xilinx Inc.
  • Elmos Semiconductor SE
  • Analog Devices
  • Vector Informatik GmbH
  • Intel Corporation

Market Segmentation

By Bus Module Outlook

  • Controller Area Network (CAN)
  • Local Interconnect Network (LIN)
  • Media-Oriented Systems Transport (MOST)
  • FlexRay
  • Ethernet

By Application Outlook

  • Powertrain
  • Infotainment & Communication
  • Body Control & Comfort
  • Safety & ADAS

By Vehicle Class Outlook

  • Luxury
  • Mid-Size
  • Economy

Regional Segmentation

  • North America (U.S. and Canada)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
  • Latin America (Brazil and Rest of Latin America)
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Some of the key highlights of the report are:

  • Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Precedence Research presents the most precise rate of growth for the market for the assessment period starting from 2021 – 2030.
  • Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
  • Competitive Landscape Analysis – Some of the leading companies operating in the automotive communication technology market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.

Why should you invest in this report?

If you are aiming to enter the global automotive communication technology market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for automotive communication technology are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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