Press release
What's driving the Automotive Communication Technology Market, 2019 Industry Growth? Broadcom Inc, Continental, Intel Corporation, NXP Semiconductors, ON Semiconductor, STMicroelectronics, Texas Instruments, Xilinx, Qualcomm
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Growth drivers
1. Stringent government regulations for reduction in automotive emission and improved vehicle safety
2. Rise in the sales for luxury vehicles
3. Development of autonomous vehicles
4. Growth in the demand for automotive electronics
5. Growing investment in automotive technology
The Latin America automotive communication technology market is anticipated to cross over USD 1 billion by 2024. The growth is attributed to the rise in car sales throughout the region. In 2017, Brazil accounted for a rise of around 10% in new car sales, followed by Argentina and Mexico. Latin America is also projected to have around 8.5 million connected cars by 2023, which increases the demand for in-vehicle connectivity solution, accelerating the automotive communication technology market.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Broadcom
2. Continental
3. Cypress Semiconductor
4. Infineon
5. Intel
6. Maxim Integrated
7. Melexis
8. Microchip
9. NXP Semiconductor
10. ON Semiconductor
11. Qualcomm
12. Renesas
13. Robert Bosch
14. STMicroelectronics
15. Texas Instruments
16. Toshiba
17. Xilinx
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The mid-sized car segment is projected to grow at a CAGR of over 14% over the forecast timespan. The average wiring in a mid-sized car consists of over thousand wires weighing around 45 kilos and measuring around a km in length. This has enabled automotive manufacturers to include bus networking in their vehicles to reduce the electronic system complexity and cost. Furthermore, the government has also enforced various restrictions for reducing CO2 emissions from vehicles of all sizes, driving the adoption of automotive communication technology solutions in these vehicles.
Automotive OEMs dominate the distribution channel segment in the automotive communication technology market with a revenue of over USD 5 billion by 2017. As customer requirements for receiving higher experiences increased, it became necessary for car manufacturers to improve their product offerings. Various automotive communication technology providers are partnering with OEMs to include these technologies into their systems, providing an integrated vehicle solution to their customers and driving the market demand.
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The leading companies functioning in the automotive communication technology market include Robert Bosch, NXP Semiconductors, Microchip, Texas Instruments, Broadcom, Toshiba, Rohm Semiconductors, Qualcomm, Intel, and STMicroelectronics.
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