Press release
Automotive Ethernet Global Market Report 2024 - By Size, Report, Trends, Key Factors, Forecast To 2033
The Business Research Company presents an extensive market research report on the Automotive Ethernet Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The automotive ethernet market size has grown exponentially in recent years. It will grow from $2.41 billion in 2023 to $2.91 billion in 2024 at a compound annual growth rate (CAGR) of 20.5%. The growth in the historic period can be attributed to bandwidth demand, data transmission speed, cost efficiency, standardization and interoperability, reliability and safety, scalability.
The automotive ethernet market size is expected to see rapid growth in the next few years. It will grow to $5.81 billion in 2028 at a compound annual growth rate (CAGR) of 18.9%. The growth in the forecast period can be attributed to emerging automotive use cases, R&D investments in connected cars, standardization and compatibility, demand for over-the-air (OTA) updates, regulatory push for vehicle efficiency. Major trends in the forecast period include industry collaboration and innovation, rise of subscription-based service, increased focus on environmental impact, evolving automotive software architectures, demand for in-vehicle connectivity.
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Key Market Players:
Major companies operating in the automotive ethernet market report are Broadcom Inc., Texas Instruments Incorporated, TE Connectivity Ltd., STMicroelectronics N.V., NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corp., Microchip Technology Inc., Marvell Technology Group, Keysight Technologies Inc., Marvell Technology Group Ltd., Visteon Corporation, Realtek Semiconductor Corp., Molex LLC, Cadence Design Systems Inc., Vector Informatik GmbH, Spirent Communications plc, ACTIA Technologies Group, TTTech Computertechnik AG, Excelfore Corp., Ruetz System Solutions GmbH, AllGo Embedded Systems Private Limited, Inova Semiconductors GmbH, KDPOF SL, System-on-Chip Engineering S.L., TSN Systems GmbH, Aukua Systems Inc., Acome Group
Market Drivers:
The increased demand for motor vehicles has contributed to the growth of the automotive ethernet market during the forecast period. The addition of innovative solutions, such as connected devices and artificial intelligence (AI) and technology, to connected vehicles accelerates innovation in the automotive industry, which further increases demand for automotive Ethernet solutions. According to statistics from the International Organization of Motor Vehicle Manufacturers, the total number of vehicles produced from January to September 2021 increased to 57.2 million units from 52.1 million units in 2020 during the same period. Hence, the increasing automobile demand is expected to generate high demand for automotive Ethernet, thus driving the market during the period.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/automotive-ethernet-global-market-report
The automotive ethernet market covered in this report is segmented -
1) By Component: Hardware, Software and Services
2) By Application: Advanced Driver Assistance Systems (ADAS), Infotainment, Powertrain, Body and Comfort, Chassis
3) By Vehicle Type: Passenger Cars, Commercial Vehicles, Farming and Off-Highway Vehicles
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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