Wind Turbine Forging Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Seamless Rolled Ring and Open Die Forging) and Component (Flanges, Blades, Bearings, Gears, Shafts, and Others)

According to our latest study, ""Automotive Transceivers Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Protocol, Application, and Vehicle Type,"" the market is expected to grow from US$ 6,340.11 million in 2022 to US$ 9,383.65 million by 2028; it is expected to grow at a CAGR of 6.8% from 2022 to 2028.

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Drive-By-Wire, Steer-By-Wire, and Brake-By-Wire to Fuel Automotive Transceivers Market Growth during Forecast Period

The automotive sector uses drive-by-wire, steer-by-wire, and brake-by-wire technology (together, X by Wire) in electrical or electromechanical systems to perform vehicle functions. This technology replaces traditional mechanical control systems with electronic control systems such as control units, motors, actuators, sensors, and batteries, which further increases the dependency of automotive vehicles on ECUs. This indicates the high demand for automotive transceivers in vehicles is enabled by the drive-by-wire, steer-by-wire, and brake-by-wire technology.

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Mercedes-Benz, BMW, Land Rover, GM, Toyota, Volkswagen, Nissan, and many other automotive manufacturers have implemented X by Wire systems in their vehicles that are manufactured mostly for racing competitions. These models include Audi R8 LMS GT3, BMW M6 GT3, and Mercedes-AMG GT3. However, this technology is still in the development stage and has yet to gain the attention of several other car manufacturers. Thus, currently, only high-end cars are incorporated with X-by-wire technology.

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Automotive transceivers are deployed in premium and SUV-class vehicles. Automotive transceivers are used for sending and receiving digital signals for smoother and safer operations of vehicles. The growing demand for passenger cars is likely to drive the need for automotive transceivers. As per the International Organization of Motor Vehicle Manufacturers (OICA) data, automotive sales grew to ~80.15 million automobiles in 2021, an increase from ~77.62 million units in 2020, and they are expected to grow in the coming years. Thus, growth prospects in the sales of passenger vehicles are anticipated to augment the market growth over the forecast period. Buses and trucks are the prominent commercial vehicles wherein automotive transceivers are deployed. There is a growing preference for safe commercial vehicles, owing to the rise in fatal accidents. Transceivers are used for enhancing the safety of the vehicle and providing smoother operations. Also, the increasing sales of commercial vehicles are further aiding the automotive transceivers market growth.

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The MOST is a serial communication system for transmitting control data, video, and audio through fiber-optic cables. It delivers the point-to-point sound and video information exchange with a speed rate of 24.8 Mbps. It involves plug-and-play functionality, making it preferable for use in the automotive application by adding or removing it from the network. It has medium bandwidth for data transfer capability and has medium complexity of system design. The MOST protocol provides a solution for automotive peripherals such as radios, CD and DVD players, GPS navigation systems, and infotainment electronic control units (ECUs). The MOST protocol was developed to address modern vehicles' rapidly increasing complexity of multimedia interconnects. The ethernet protocol has higher bandwidth data transmission capabilities. The ethernet protocol is used in autonomous and connected cars to communicate properly within the automotive infrastructure. It provides real-time data and ensures the seamless functioning of the in-vehicle systems. The automotive ethernet is a reliable and much faster networking protocol that is fueling the emerging technologies in the automotive industry. Thus, the growing demand for autonomous cars is anticipated to drive the demand for ethernet protocol for faster data transmission.

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Growing supportive incentives and subsidies for the adoption of zero-emission vehicles are accelerating the demand for electric vehicles, which, in turn, support the growth of the automotive transceivers market to grow. For instance, in 2019, the Ecobonus program allocated an investment of ~US$ 353.52 million to subsidize sustainable driving in 2021. The program is also aiming to cut net emissions to zero by 2050 and for electric vehicles to replace polluting models by 2035, which poses a lucrative opportunity for electric vehicle players. Hence, these growing initiatives for adopting electric as well as fuel cell vehicles, along with government support, are fueling the demand for automotive transceivers in vehicles for enhancing the safety and security of the passenger. Also, the growing focus of automotive developers on providing autonomous vehicles is further aiding the demand for automotive transceivers for efficient and faster communication in vehicles. Thus, such growth prospects in the automotive sector are boosting the demand for automotive transceivers, which propel the market growth over the forecast period.

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Key Findings of Study:

The global automotive transceivers market is segmented on the basis of protocol, application, and vehicle type. Based on protocol, the market is segmented into CAN, LIN, FLEXRAY, and others. In 2022, the CAN segment led the market. Based on application, the market is segmented into safety, body control module, chassis, powertrain, steering wheel, engine, and door/seat. In 2022, the safety segment led the market. Based on vehicle type, the market is segmented into passenger vehicles and commercial vehicles. In 2022, the passenger vehicles segment led the market.

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Thinking Caps Market Reports
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Sayantan Paul
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