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Automotive Communication Technology Market | 2019 Regional Industry Participants Xilinx, Toshiba, Texas Instruments, STMicroelectronics, Qualcomm, NXP Semiconductors, Microchip Technology, Intel Corporation, Broadcom, Continental

02-05-2019 06:28 PM CET | Media & Telecommunications

Press release from: Global Market Insightshts, Inc.

/ PR Agency: Automotive Industry
Automotive Communication Technology

Automotive Communication Technology

The automotive communication technology market growth is attributed to the increasing demand for automotive electronics. Over the last decade, the total contribution toward automotive electronics has increased from around 20% to 45%. Inventions such as automatic transmission, anti-lock brakes, telematics, and infotainment capabilities are revolutionizing the automotive industry, driving the market demand. The electronic systems also 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.

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The economy car segment is growing at the fastest rate in the automotive communication technology market and is projected to grow at a CAGR of over 16% over the forecast timeline. The major factors contributing to the market growth include the rising demand for vehicular safety from the economy class vehicle consumers and stringent government regulations for emission reduction. Hence, the economy car manufacturers are working with various automotive industry standards organizations to develop efficient networking solutions thereby meeting the stringent design constraints. This has contributed to the introduction of features such as ADAS, advanced safety, and user-friendly infotainment system into the cars, driving their adoption rates. The introduction of networking technologies in these vehicles is growing rapidly, contributing to the automotive communication technology market growth.

Automotive Communication Technology Market, By Bus Module

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

Automotive Communication Technology Market, By Vehicle Class

o Economy
o Mid-Sized
o Luxury

Automotive Communication Technology Market, By Distribution Channel

o OEM
o Distributors

Automotive Communication Technology Market, By Application

o Powertrain
o Body and Comfort Electronics
o Infotainment and Communication
o Safety and ADAS
o Others

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The safety & ADAS segment dominates the automotive communication technology market with a projected market revenue of over USD 8 billion by 2024. The automotive systems have become more sophisticated as they include ADAS applications from collision avoidance, automatic emergency braking, and lane departure warning to autonomous driving, making the system bandwidth critical. To meet this high bandwidth and latency requirements, it is essential for automotive manufacturers to provide high-performance network connectivity. The use of automotive Ethernet in these systems delivers a single in-vehicle network, enabling a seamless cross-domain communication and accelerating their adoption rates in the automotive communication technology market.

The distributors segment is growing rapidly with a projected CAGR of over 17% over the forecast timespan. The communication technology providers mainly align with the distributors to provide its technology to automotive manufacturers worldwide. The distributors dominate the aftermarket landscape by developing strategies to deepen their relationship with customers, driving the company sales. They also provide an insightful understanding regarding the prevailing market conditions and the changing customer requirements, which enable companies to bring about necessary transformations in its offerings, contributing to the automotive communication technology market growth.

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The companies operating in the global automotive communication technology market are focusing on bringing about innovations in production technologies, resulting in the development of advanced solutions for the automotive communication technology market. Major players functioning in this market include On Semiconductor, NXP Semiconductor, Microchip, Continental, Broadcom, Intel, Qualcomm, Renesas, Vector Informatik, Robert Bosch, Elmos Semiconductor, Xilinx, STMicroelectronics, Melexis, Infineon, Cypress Semiconductor, and Texas Instruments. These players are also entering into strategic partnerships with various automotive manufacturers to expand their presence and gain a competitive edge in the automotive communication technology market.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

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