According to Precedence Research, the automotive communications technology market is projected to reach approximately US $ 36.3 billion by 2030, growing at a CAGR of 15.4%.
/EIN News/-Ottawa, August 20, 2021 (GLOBE NEWSWIRE)- Ottawa, August 20, 2021 (GLOBE NEWSWIRE) – global Market size of automobile communication technology The valuation in 2020 was US $ 7.63 billion. Automotive communication technology consists of a computer network that allows vehicles and roadside units to share information and data such as traffic information and safety warnings. Very useful for avoiding accidents and small traffic jams. It is part of the Intelligent Transport Systems and allows buyers to become part of a more reliable transportation network.
Vehicles use a variety of communication protocols to provide real-time information about peripheral systems, such as traffic jams, the location of nearby vehicles, and safety alerts. There are different types of communication protocols, including CAN, LIN, MOST, FlexRay, and Ethernet, which are used to establish smooth communication between different parts of the vehicle. CAN is the oldest protocol with a wide range of uses due to its high security, but automotive Ethernet seems to be growing rapidly due to its high data transmission rate. However, both technologies have their own strengths and weaknesses, depending on the requirements and purposes of the vehicle.
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The surprising rate of increase in air pollution, primarily due to carbon emissions from the transportation sector, is one of the major drivers of market growth in automotive communications technology. To control emissions from vehicles in different regions, the government is significantly switching its transportation sector to green mobility, including zero-emission vehicles, shared mobility, electric and solar vehicles, and more. These state-of-the-art renewable energy vehicle vehicles are equipped with new and advanced technologies that add to the complexity within the vehicle. This all raises the need for better advanced communication protocols for automobiles.
In addition, growing interest in safety and security has spurred sales expansion of luxury cars equipped with advanced safety and comfort functions. This is mainly due to higher disposable income and higher road fatality rates in developing countries. According to the World Health Organization (WHO), 1.35 million people die each year in road accidents, with 90% of these deaths occurring in developing or undeveloped areas. This is due to poor health on national and urban roads.
- The Asia-Pacific region leads the global automotive communication technology market with the world’s largest semiconductor market.
- MEA is the fastest growing region of the world market due to its high disposable income and significant growth in the region’s infrastructure.
- In the bus module, the CAN bus dominated the global automotive communication technology market with more secure communication between internal ECUs.
- Ethernet is the fastest growing bus module due to its fast data transfer rate.
- Body control and comfort are leading the global automotive communications technology market as demand for intelligent body control modules increases.
- Powertrain is the fastest growing application segment due to the growing demand for a safe and smooth driving experience.
- With 50% of the world’s population being middle class and affordable, the mid-sized car class is a prime candidate in terms of both revenue and growth.
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The Asia-Pacific region is one of the most important automotive markets and has emerged as a global automotive communications technology market with a significant global revenue share. The region will retain 44.7% of its revenue share in 2020 and is expected to continue to dominate with a growth rate of 11.8% during the analysis period. It accounts for more than three-fifths of the world’s car sales, and its share is increasing at a significant rate each year. China and India are leading candidates for the Asian automotive industry and are expected to be the most promising regions for automotive sales growth in the coming years. The main reason for explaining the growth of these countries is the advanced semiconductor market, coupled with a large consumer base.
On the contrary, the Middle East and Africa are the fastest growing markets, recording a CAGR of 22.8% during the forecast period of 2021-2031. The automotive industry is very embracing advanced technology and MEA is one of the fastest growing regions in terms of technology. development. The region is also a hotspot for a variety of smart upcoming technologies such as smart homes, smart communication devices, smartphones and smart cars.
In addition, the automotive industry is undergoing significant changes due to the impact of these new technologies, so pioneers and newcomers approach the market differently. New entrants are taking different approaches to jump directly into the penetration of new technologies, while market pioneers are inorganic for growth, including mergers and acquisitions, collaborations and investments in R & D. Focuses on a unique approach. For example, Dubai-based automaker W Motors plans to relocate its luxury hypercar center for production from its Italian facility to the UAE in 2020. Therefore, MEA is a promising region for the growth of the automotive industry.
- Intelligent Transport Systems Market -The global market is valued at US $ 29.69 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.3% from 2020 to 2030 to reach US $ 47.89 billion by 2030.
- Third Party Logistics Market -The global market is valued at US $ 919.12 billion in 2020, is projected to reach US $ 171.58 billion by 2027, and is projected to grow at a compound annual growth rate (CAGR) of 8.3% from 2021 to 2027. increase.
- Electrical Power train market -The global market is projected to reach a compound annual growth rate (CAGR) of 13.8% during the forecast period and will exceed US $ 200 billion by 2027.
Key players and strategies
The automotive communication technology market is highly fragmented due to the large number of industry participants. In addition, some players in the automotive communications technology market are making significant investments in the advancement and development of automotive Ethernet. For example, in March 2020, Argus Cyber Security, a leading cybersecurity solution provider for the automotive sector, and NXP Semiconductor, an automotive semiconductor supplier, announced a new integrated solution to protect Ethernet network communications based on the NXP S32G vehicle processor. .. This solution uses Argus’ Ethernet Intrusion Detection System (IDS) to upgrade the security of Ethernet ports. Similarly, other market players are investing heavily in product progress.
Leading players in the global automotive communications technology market include Toshiba Corporation, Robert Bosch, Texas Instruments, Broadcom Inc., NXP Semiconductors, Infineon Technologies AG, STMicroelectronics, Renesas Electronics Corporation, Microchip Technology Inc., ON Semiconductor, Roam Semiconductor, Maxim Integrated, Merexis NV, Zylinks, Inc., Hermos Semiconductor SE, Analog Devices, Vector Infineon GmbH, Intel Corporation and more.
Bus module outlook
- Controller Area Network (CAN)
- Local Interconnect Network (LIN)
- Media Oriented System Transport (MOST)
By application outlook
- Power train
- Infotainment and communication
- Body control and comfort
- Safety and ADAS
Vehicle class outlook
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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Automotive communication technology market will reach US $ 36.3 billion by 2030
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