According to Absolute Markets Insights report, passenger cars segment accounted for the higher market share in 2021in the automotive communication technologymarket. This is attributed to the huge demand for special utility vehicles (SUVs) in past few years due to the growing leisure and tour activities across the globe. In addition, the developing countries such as India and China are seeing considerable increase in purchase of passenger cars by middle class population owing to rise in disposable income. This growth of the passenger cars fuels demand for automotive communication technologies.
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In past few years, vehicle-to-infrastructure (V2I) as well as vehicle-to-Vehicle (V2V) technology has become essential in automotive industry to enable cars to communicate with other cars and infrastructure. In addition, modern automotive systems are complex distributed computer systems with various demands on networking capabilities. Moreover, advanced driver assistance systems (ADAS) are seeing huge demand owing to the current trend of driverless cars. Such technological innovations has boosted demand for enhanced automotive communication technologies. Further,the future-mobility technologies such as autonomous-vehicle (AV) technologies and smart mobility is seeing heavy investments, creating lucrative growth opportunities for the automotive communication technology market. For instance, in March 2022, General Motors has expanded its ownership stake in Cruise LLC, the self-driving car subsidiary of General Motors. This partnership is aimed at making new discoveries and developing sustainable technologies across the fields ranging from life sciences to manufacturing.
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Key Findings – Global Automotive Communication Technology Market:
- In terms of revenue, the global automotive communication technology market was valued at US$ 13,345.21 Mn in 2021 growing at a CAGR of 19.67% over the forecast period (2022 – 2030).
- By offering, the servicessegment is expected to witness highest growth rate during the forecast period in the automotive communication technology market. Growth of this segment is mainly driven by the need for maintenance services associated with the automotive communication technology products.
- By application, telematics and networking segment is anticipated to witness highest growth rate during the forecast period in the automotive communication technology market.This segment includes communication technology that deals with information generated from and flowing to vehicles via wireless networks. Technological advancements and advent of autonomous vehicles drives growth of this segment. On the other hand, increasing count of electronic control units in the vehicles for safety, motor control, engine management, and infotainment needs to be networked, secure, and upgradeable. This has further boosted demand for automotive communication technology.
- Bydistribution channel, OEMs segment accounted for the major share in 2021. However, aftermarket segment is projected to witness highest growth rate during the forecast period. The factors such as crash repair and wear & tear supports growth of this segment. In addition, the growing customer expectations related to increasing the performance of automotive electrical & electronics components and its communication capabilities is further projected to boost growth of this segment.
- North America is expected to witnessconsiderable growth rate in the global automotive communication technology market during the forecast period. Growth of this region is driven by demand for advanced automotive technologies, high standards of living, and growing government mandates for secure & safe vehicles.
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Competitor Insights:
The key companies profiled in the global automotive communication technologymarket are mentioned below:
- Analog Devices, Inc.
- Broadcom
- EnSilica
- HAWYANG SEMICONDUCTOR CORP.
- Infineon Technologies AG
- Marvell
- Maxim Integrated
- Microchip Technology Inc.
- Micron Technology, Inc.
- NVIDIA Corporation
- NXP Semiconductors
- Qualcomm Technologies, Inc.
- Renesas Electronics Corporation
- Samsung
- Semiconductor Components Industries, LLC
- STMicroelectronics
- Texas Instruments Incorporated
- TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION
- Vector Informatik GmbH
- WOLFSPEED, INC.
- Other Market Participants
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In November 2021, Elektrobit (EB), an automotive software company and developer of embedded software products, launched the EB zoneo SwitchCore, the Automotive Ethernet switch firmware, designed for making it easier for car makers as well as their suppliers to develop advanced and high-bandwidth communications systems needed by next-generation vehicles.Such factors are boosting the demand for the automotive communication technology market.
Global Automotive Communication Technology Market:
By Offering
- Products
- System-on-Chips (SoCs)
- Microcontrollers (MCUs)
- Memory
- Ethernet
- Sensors and Processors
- SerDes
- PCIE Switches
- Power Management ICs (PMICs)
- MOSFETs
- eFuse
- LIN bus
- SiP
- FlexRay
- Controller Area Network (CAN)
- ASIC
- Others
- Services
By Application
- Advanced Driver Assistance System (ADAS)
- Chassis & Safety
- Infotainment System
- Powertrain System
- Body and Convenience
- Telematics and Networking
- Others
By Vehicle Type:
- Passengers Cars
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Distribution Channel
- OEMs
- Aftermarket
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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