Automotive communication technology Market Size 2021-2030, Market Share Analysis, Growth, Trends, and Covid 19 Outbreak Impact Research Report Added by Precedence Research.
The global automotive communication technology market size is projected to hit USD 36.30 billion by 2030. Furthermore, the CAGR from 2021 to 2030 is positioned to be at a CAGR of 15.4%.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030.
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Automotive Communication Technology consists of computer networks that permit vehicles as well as roadside units for sharing information and data for example traffic information and safety warnings. It is very beneficial in avoiding accidents and small traffic jams. It is a part of intelligent transportation system that allows buyer for being a part of more reliable transport network.
Various communication protocols are used in a vehicle to provide real-time information of surrounding systems such as traffic congestion, position of surrounding vehicle, and safety warnings. There are various types of communication protocols that include CAN, LIN, MOST, FlexRay, and ethernet that are used for establishing smooth communication between various parts of an automobile. CAN is the oldest protocol that has wide application owing to its higher level of safety, whereas automotive ethernet seems to grow at rapid rate because of higher data transmission speed. However, both the technologies have its own advantage and disadvantage depending on the requirement and purpose in the vehicle.
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.
- 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
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.
The automotive communication technology market report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation, and so on.
Some of the key players in the global automotive communication technology market include:
- Toshiba Corporation
- Robert Bosch
- Texas Instruments
- Broadcom Inc.
- NXP Semiconductors
- Infineon Technologies AG
- 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
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2030. For the purpose of this study, Precedence Research has segmented the global Automotive Communication Technology Market report on the basis of bus module, application, vehicle class, and region:
By Bus Module Outlook
- Controller Area Network (CAN)
- Local Interconnect Network (LIN)
- Media-Oriented Systems Transport (MOST)
By Application Outlook
- Infotainment & Communication
- Body Control & Comfort
- Safety & ADAS
By Vehicle Class Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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