Global Automotive Communication Technology Market: Overview
The number of automobiles sales is soaring and is expected to grow in the coming years. The growing disposable income and the rapid urbanization in the regions have increased the automobile production and its sales. Increased demand from the consumers for comfort and safety measures has increased the demand for the adoption of the new technologies such as automotive communication technology.
Global Automotive Communication Technology Market: Growth Factors
It is anticipated that the global automotive communication technology market will grow at a rapid rate in the coming years. The major factor that is driving the automotive communication technology market is the growing demand for the automotive systems owing to the increasing government mandates. Another factor that is driving the growth of the automotive communication technology market is the increasing use of the electrical systems in the automobiles. The government has imposed norms and regulations to increase the safety measures in the automobiles and to reduce the emissions.
The development of the autonomous vehicles is expected to open up growth opportunities for the market.
The reduced reliability and the increased complexity in the electronics architecture are expected to limit the growth of the automotive communication technology market. The complexity in troubleshooting the network architecture in the vehicles and the soaring maintenance cost attributes to pose challenges for the growth of the market.
Global Automotive Communication Technology Market: Segmentation
The global automotive communication technology market can be segmented into bus module, application, and by vehicle class. Based on the bus module, the market is segregated into controller area network (CAN), media-oriented systems transport (MOST), local interconnect network (LIN), FlexRay, and Ethernet. On the basis of application, the global automotive communication technology market is categorized into body control & comfort, safety & ADAS, powertrain, and infotainment & communication. In terms of vehicle class, the market is divided into luxury, mid-size, and economy.
Global Automotive Communication Technology Market: Regional Analysis
The Asia Pacific anticipates holding the majority of the shares of the automotive communication technology market. The major factors that are contributing to the growth of the market in this region are the development of the advanced electronics and the government mandates related to the utilization of electronics in order to reduce the harmful emissions and to improve the safety measures in the automobiles.
The Asia Pacific is expected to be followed by Europe and it is anticipated that the market will grow at a good growth rate in the coming years in this region. The growth of the automotive communication technology market can be attributed to increasing awareness among the Europeans regarding advanced vehicle electronics and the importance of the safety features within a vehicle.
Global Automotive Communication Technology Market: Competitive Players
Some of the most important market players involved in the automotive communication technology market includes Toshiba, Texas Instruments, STMicroelectronics, Renesas, Microchip, Cypress Semiconductor, Xilinx, Elmos Semiconductor, Intel, Qualcomm, Robert Bosch, Broadcom, NXP, Infineon, On Semiconductor, Continental, Rohm Semiconductor, Melexis, Vector Informatik, and Maxim Integrated, among others.
Global Automotive Communication Technology Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
What Reports Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.
