Automotive Communication Technology Market was valued at US$ 6Bn in 2017 and is expected to reach US$ 20Bn by 2026, at a CAGR of 16.24% during a forecast period.
In trends many vehicle owners are turning towards better communication technology to improve their vehicle performance and life safety. Changing technology are saving money on repairs and fuel costs. New invention in the field of the technology are demanding. The car as a connected mobile device, the possibilities are captivating the information technologies in vehicles, which is now playing a major central role for the customers in purchasing vehicles. Vehicles now are able to access upon the external information and content are factors to impact more on the growth of Automotive Communication Technology market.
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Based on the Bus module, Ethernet segment is expected to hold the largest share in the market during the forecast period. Automation and connectivity are driving the automotive industry. Rising luxury car purchasing power and lowering maintenance costs. Ethernet is emerging as a preferred choice. Automotive Ethernet is slightly different; a flavor of regular Ethernet, itâ€™s optimized for vehicular use. By 2020, it is estimated that 40% of the cost of a car will be in electronics (up from about 32% today). New safety, infotainment, and communication features and technologies will drive this increase. Automotive wiring harnesses will change from heterogeneous networks of proprietary protocols (such as CAN and MOST) to hierarchical homogenous automotive Ethernet networks. In Application, Safety & ADAS is also expected to lead the market growth.
The report provides details list of drivers and restraints of the market, which are influencing the market growth.
Major driving factors of the automotive communication technology market are increasing the quantity of vehicles has expanded essentially over the globe because of modernization and enhanced spending energy of individuals. This has prompted an expansion in the automotive emanation levels too. Increasing demand from passenger and commercial vehicle. Increasing R&D activities by major players for development of cost effective product is expected to create new opportunities. Intelligent transport systems giving alert to drivers in traffic conditions, tolls and optimum routes, as well as driver assistance systems to control speed, stability and even emergency braking if required are factorâ€™s to boost the demand for automotive communication technology market. Less reliability of electronics architecture and higher cost installation will act as a restraint to the market.
In terms of region, Asia pacific is expected to hold the largest share in the market during the forecast period. The Asia-Pacific region is home to some 3.9 billion people representing just over half of the world’s population and increasing number of local automakers and Tier 1 suppliers operating in the region. Increasing awareness of green vehicles and new ideas from new players giving inspirations to the traditional automotive industry. Population with enormous projected growth has important implications in terms of economic development. India, China, Japan, Singapore, Thailand and Malaysia have been reduced the number of road accidents and accident fatalities. China Is the Main Target for In-Vehicle Applications Newcomers Will Make the Automotive Market more exciting.
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The report includes a detailed study of Porterâ€™s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
Scope of the Report for Automotive Communication Technology Market
Automotive Communication Technology Market, by Bus module
Local Interconnect Network (LIN)
Controller Area Network (CAN)
Media-Oriented Systems Transport (MOST)
Â Automotive Communication Technology Market, by Application
Body Control & Comfort
Infotainment & Communication
Safety & ADAS
Automotive Communication Technology Market, by Vehicle class
Automotive Communication Technology Market, by Region
Middle East & Africa
Key Players Operating in Automotive Communication Technology Market
This post was originally published on Raleigh Recorder