The global automotive communication technology market was valued at USD 5.84 billion in 2021 and is projected to reach about USD 20 billion by 2026, at a compound annual growth rate (CAGR) of over 17% during the envisioned period.
The sales of automobiles are rising and are expected to grow in the coming years across all the nations. The rapid urbanization and growing disposable income have increased automobile production and sales. Increased demand for comfort and measures for safety from consumers is increasing the need for the implementation of the novel technologies like automotive communication technology. The augment in purchases of premium cars and the advent of autonomous vehicles can build new revenue opportunities for the players in automotive communication technology. Also, the expanding number of electronic systems in passenger vehicles, government regulations and norms to curb gas emissions and enhance the safety is the reason for the growth of automotive communication technological industry.
SLD Laser, a pioneer in the commercialization of visible laser light across the globe, has declared the development of high-resolution sensing and ultra-high-speed LiFi communication technologies that can assist automotive and consumer applications. The organization aims to showcase these innovations, along with its award-winning high brightness Laser Light automotive and specialty lighting products at the Consumer Electronics Show, which happened in January 2020 in Las Vegas, Nevada.
NXP recently introduced new Bluetooth devices for supporting in automotive and industrial markets. This new device includes KW3X range of microcontrollers. The new kw39/38/37 MCUs add the novel Bluetooth 5.0 long-range capability.
Increasing use of the electrical systems in the automobiles and the growing demand for the automotive systems owing to the increasing government mandates are two significant factors that increase the market growth in the automotive communication technology industry.
It is expected that the global automotive communication technology market will grow at a rapid rate in a few years. The primary factor that is driving the automotive communication technology market is the increasing demand for the automotive system owing to the growing government mandates.
Another factor that is driving the growth of the automotive communication technology market is increasing the use of the electrical system in automobiles. The government has imposed various norms and regulation to improve the safety measures in the cars and to reduce the emission.
The global automotive communication technology market is separated on the basis of bus modules, application, vehicle class, and region.
Based on the bus module, the global market is divided into local interconnect technology (LIN), controller area network (CAN), FlexRay, media-oriented systems transport (MOST), and ethernet. Of these, CAN segment takes the most considerable portion in the overall market, which is propelled by various aspects like the augmenting electronic content for applications like powertrain, body control and comfort in automobiles.
By application, the international market is separated as powertrain, body control and comfort, infotainment and communication, and safety & ADAS. The safety & ADAS segment is determined to account for the fastest-growing in the automotive communication technology business. Due to the increasing government mandates for safety norms in the automotive industry.
The economy vehicle class segment of the market is anticipated to grow at the most notable CAGR over the calculated period. It is trailed by other variants like luxury and mid-size vehicle class. The luxury vehicle class portion is relied upon to record the largest share of the market, following its extensive application in the vehicle electronics.
By region, the global automotive communication technology market is divided into four key areas, namely Asia-Pacific, Europe, North America, and the rest of the world (ROW).
The Asia-Pacific market is taking the largest market share, and it is estimated to grow at a significant CAGR during the outlook period. The market growth in this area due to vehicle production and government mandates regarding the active and passive safety of the vehicle. In addition to that, the increasing investment in infrastructure, construction activity, and increasing sales of the luxury vehicle are also driving the growth of this business in this region. After Asia-Pacific, Europe is anticipated that the market will grow at a reasonable growth rate in the coming years in this region. The expansion in the global automotive communication technology market can be credited to the mounting awareness among the consumers in the European nations regarding the benefits of advanced vehicle electronics and the significance of the safety features in the vehicles.
Robert Bosch GmbH is registering the most outstanding share in global automotive communication technology market.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Automotive Communication Technology Market, By Bus Module
6.1.6 Market Size Estimations & Forecasts (2019-2024)
6.1.7 Y-o-Y Growth Rate Analysis
6.1.8 Market Attractiveness Index
6.2 Automotive Communication Technology Market, By Application
6.2.2 Body Control & Comfort
6.2.3 Infotainment & Communication
6.2.6 Market Size Estimations & Forecasts (2019-2024)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
6.3 Automotive Communication Technology Market, By Vehicle Class
6.3.4 Market Size Estimations & Forecasts (2019-2024)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Bus Module
7.2.3 By Application
7.2.4 By Vehicle Class
7.3.1 By Country
188.8.131.52 Rest of Europe
7.3.2 By Bus Module
7.3.3 By Application
7.3.4 By Vehicle Class
7.4 Asia Pacific
7.4.1 By Country
184.108.40.206 South Korea
220.127.116.11 South East Asia
18.104.22.168 Australia & NZ
22.214.171.124 Rest of Asia-Pacific
7.4.2 By Bus Module
7.4.3 By Application
7.4.4 By Vehicle Class
7.5 Latin America
7.5.1 By Country
126.96.36.199 Rest of Latin America
7.5.2 By Bus Module
7.5.3 By Application
7.5.4 By Vehicle Class
7.6 Middle East and Africa
7.6.1 By Country
188.8.131.52 Middle East
7.6.2 By Bus Module
7.6.3 By Application
7.6.4 By Vehicle Class
8. Key Player Analysis
8.1 Robert Bosch
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.4 Texas Instruments
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures