Global automotive communication technology market is anticipated to grow at substantial CAGR above 15% throughout the forecast period. Furthermore, Market players are primarily focusing on developing new innovative technologies that will supplement growth of the automotive communication technology market.
The automotive industry has evolved rapidly over the past decade with the rising usage of Electronic Control Units (ECUs), which have positively influenced the way various automobile subsystems communicate. These automobiles have a large number of sensors, wires, and circuits with enormous dedicated wiring, leading to bulky, complex, and expensive wiring harnesses. This has led to the adoption of automotive communication technology as they provide higher bandwidth, security, determinism, and fault tolerance capabilities, reducing circuit complexity. The growth in the demand for automotive electronics plays a vital role in the rising demand for automotive communication technology market.
The electronic systems assist in meeting the safety regulations such as adaptive cruise control, blind spot detection, and lane chase assist, encouraging manufacturers to incorporate these systems into their vehicles. All these subsystems are connected to the central gateway through various bus modules including CAN, MOST, and Ethernet, enhancing in-vehicle communication and safety. The powertrain, chassis, safety, infotainment, and body comfort are the major applications that use the automotive communication technology due to which car manufacturers have increased the adoption of in-vehicle electronics, in turn augmenting the automotive communication technology market growth.
The Europe automotive communication technology market held over 26% of the market share in 2017. The growth in this region is attributed to the rising awareness regarding automotive safety among citizens and stringent government regulations. The region is also the home for leading automotive semiconductor providers such as Elmos Semiconductor, NXP Semiconductor, STMicroelectronics, and Vector Informatik, which contributes to the market growth in this region. Poland is one of the fastest growing countries in this region and is anticipated to be the second largest automotive hub in Europe after Germany.
Automotive Communication Technology Market, By Bus Module: Local Interconnect Network (LIN),Controller Area Network (CAN),FlexRay,Media-oriented Systems Transport (MOST),Ethernet
Automotive Communication Technology Market, By Vehicle Class:Economy,Mid-Sized,Luxury
Automotive Communication Technology Market, By Distribution Channel:OEM,Distributors
Automotive Communication Technology Market, By Application:Powertrain,Body and Comfort Electronics,Infotainment and Communication,Safety and ADAS,Others
Global Automotive communication technology Market, by Geography:North America,Europe,Asia-Pacific,Latin America,Middle East and Africa (MEA)
The global automotive communication technology market is characterized by the presence of experienced and established players. Some of the key players include NXP Semiconductor, Intel, Vector Informatik, Continental, On Semiconductor, Broadcom, Qualcomm, Microchip, Robert Bosch, Renesas, Elmos Semiconductor, STMicroelectronics, Xilinx, Melexis, Infineon, Texas Instruments and Cypress Semiconductor.
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