Automotive Data Cables Market Worth USD 20.0 Billion In 2031 | Acome Group, Aptiv , Belden Incorporated, Coficab GroupThe global automotive data cables market was valued at USD 7.0 billion in 2022 and it is anticipated to grow further till USD 20.0 billion by 2032, at a CAGR of 11.1% during the forecast period.
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Automotive data cables are the type of cables that are used to transfer data. The increasing use of connected cars coupled with the increasing availability of smart vehicle infotainment system is boosting the demand for the automotive data cables market. Moreover, increasing popularity of autonomous vehicle is led to the increasing requirement of data cables, which is likely to influence the growth of the automotive data cables market.
Market Trends and Drivers
The increasing contribution of electronic systems in passenger cars coupled with emergence of autonomous vehicles is anticipated to boost the growth of the market. Moreover, rise in sales of premium vehicles and growing popularity of vehicle telematics along with increasing role of data connectivity for in-vehicle infotainment and V2V communication is likely to refuel the growth of the market.
Major Players in the Global Automotive Data Cables Market
The key players studied in the report are ACOME Group, Aptiv PLC, Belden Incorporated, Coficab group, Condumex S.A. de C.V., Coroplast, Amphelone Corporation, General Cable Technologies Corporation, Furukawa Electric Industries Ltd., Champlain Cable Corporation, among others.
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The COVID-19 pandemic had a detrimental effect on the sector because to delays in the production process and strict lockdowns that prohibited mobility. However, a drop in coronavirus incidence and a rise in consumer disposable income encouraged sales of passenger cars and the automotive industry as a whole, especially as it related to bettering vehicle connectivity. Additionally, businesses continued to invest heavily in challenging R&D initiatives, which increased demand for vehicle data connections.
For instance, well-known semiconductor maker NXP debuted CAN SIC technology in October 2021. This technology boosts possible data rates by actively enhancing the CAN signal, allowing CAN FD networks to function in larger, more complicated networks.
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Global Automotive Data Cables Market Segmentation
Controller Area Network
Controller Area Network Flexible Data-Rate
Low Voltage Differential Signaling/High Speed Data
Body Control & Comfort
Infotainment & Communication
Safety & ADAS
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