Automotive Communication Technology Market Size, Share & Segmentation By Application, By Bus Module, By Vehicle Class, By Regions & Global Forecast 2023-2030

AUSTIN, TEXAS, UNITED STATES, February 20, 2024 /EINPresswire.com/ — Automotive Communication Technology Market Efficient communication is crucial for tasks such as power management and coordinated operations, especially with the rising focus on Electric Vehicles (EVs) and Autonomous Mobility. Seamless communication facilitates various functions, including optimizing energy usage and ensuring smooth interactions between different components of the vehicle.

Market Size –

The SNS Insider report indicates that the Automotive Communication Technology Market was valued at USD 7.10 billion in 2022, and it is projected to achieve a market size of USD 22.61 billion by 2030, with a compound annual growth rate (CAGR) of 15.57% expected over the forecast period from 2023 to 2030.

Major Players:

• Robert Bosch
• Broadcom Inc
• NXP Semiconductors N.V.
• Continental AG
• ON Semiconductor
• Toshiba Corporation
• Texas Instruments
• Infineon Technologies AG
• Renesas Electronics Corporation
• STMicroelectronics

Request For PDF Sample Copy: https://www.snsinsider.com/sample-request/1026

Market Report Scope –

Electronic networks, which allow information and data to be exchanged between vehicles and road equipment such as security alarms and traffic updates, are included in the automotive communication technology. In order to avoid accidents, it is advisable to provide guidance on traffic congestion. This component of intelligent transport enables buyers to take part in a more secure transportation network. It has a wide range of applications in the powertrain and promotes safety as it helps to lower

Market Growth Factors –

The growth in the industry is due to a growing demand for integrated vehicles with advanced features and emphasis on vehicle safety and ADAS, which are enhancing the need for reliable communication technologies. Efficient communication of power management and coordinated operations is also needed in view of the increasing focus on e.g. EVs and Autonomous Mobility. In addition, communication technologies are essential to ensure effective traffic flow in the context of developments in connectivity infrastructure and intelligent cities. The demand for vehicle-to-vehicle communication is predicted to rise over the upcoming years, yielded by the growing awareness regarding its capability to exchange information sans wire about the position and speed of surrounding vehicles to potentially ease traffic congestion, avoid crashes, and better the environment. Moreover, the growing concerted efforts of regulatory bodies, the automotive industry, and academic institutions to provide a safe space for V2V communication.

Segmentation Analysis –

In 2022, the safety & ADAS sector accounted for more than 15.6% of market shares in car communication technology. In order to improve road safety, these technologies allow for the communication of vehicle components, sensors and control units at an instant. The features such as collision detection and avoidance, lane departure warning, and adaptive cruise control are facilitated by automotive communication technology. The rising demand for enhanced safety and ADAS features in vehicles is feeding the surge of robbery.

On the basis of application, body control & comfort acquired the maximum market revenue of US$ 2.63 billion in 2022 because of rising adoption of higher level of safety and comfort features in modern cars & vehicles. In particular, the number of road fatalities is increasing. Moreover, the significant revenue share of Body Control & Comfort segment is largely attributable to a growing demand for luxury cars and premium vehicles.

By Application:

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

By Bus Module:

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

By Vehicle Class:

• Economy
• Luxury
• Mid-Size

Key Regional Development –

Between 2023 and 2032, the Asia Pacific automobile communications technology industry is expected to grow by about 17.5%. The factors, which include a boom in the car industry, rapid urbanization and increased consumer demand for connected vehicles, are leading to this trend. At the forefront of automotive innovation are countries such as China, Japan and South Korea, which are investing heavily in advanced communication technologies. The region’s focus is on the development of electric and smart vehicles, which in turn supports the implementation of vehicle communication systems. Rapid growth in the region is underpinned by supportive government policies and partnerships with technology companies.

Key Takeaway’s–

The global automotive communication technology market is looking for tremendous growth due to the increasing penetration of the Internet of Things, IoT big data, facial recognition, artificial intelligence, machine learning, and many others, to upgrade the features of the vehicle and to miniaturize electronic devices that make it easier to integrate into the vehicle. Moreover, the integration of advanced technologies into modern vehicles is also an attractive opportunity for vehicle manufacturers and dealers.

Make An Enquiry: https://www.snsinsider.com/enquiry/1026

Recent Developments –

In March 2023, Toshiba developed a new communication driver/receiver IC for the CXPI standard. Its typical uses include steering controls, instrument clusters, light switches, door locks, external mirrors and so on. The most recent development enables a physical layer interface for CXPI compliant vehicle communication protocols to be established. In addition, it offers a wide range of fault detection features, such as overheating and low voltage detection.

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Global Automotive Communication Technology Market Segmentation, by Application
8.1 Powertrain
8.2 Body Control & Comfort
8.3 Infotainment & Communication
8.4 Safety & ADAS

9. Global Automotive Communication Technology Market Segmentation, by Bus Module
9.1 Local Interconnect Network (LIN)
9.2 Media-Oriented Systems Transport (MOST)
9.3 Controller Area Network (CAN)
9.4 FlexRay
9.5 Ethernet

10. Global Automotive Communication Technology Market Segmentation, by Vehicle Class
10.1 Economy
10.2 Luxury
10.3 Mid-size

11. Regional Analysis

Read More…!

Drive Your Growth Strategy: Purchase the Report for Key Insights@ https://www.snsinsider.com/checkout/1026

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company ‘s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety.

Akash Anand
SNS Insider
+1 4152300044
[email protected]
Visit us on social media:
Facebook
Twitter
LinkedIn
Instagram