Press release
Vehicle Networking Market 2024-2033 : Market Size, Top Segments, Leading Region Forecast
Vehicle Networking Market Size
As per the report, the vehicle networking market size has grown strongly in recent years. It will grow from $1.08 billion in 2023 to $1.18 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The vehicle networking market size is expected to see strong growth in the next few years. It will grow to $1.61 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
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Surge In Demand For Autonomous Vehicles Propels Growth Of Vehicle Networking Market
The increase in demand for autonomous vehicles is expected to propel the growth of the vehicle networking market going forward. Autonomous vehicles, also known as self-driving cars, or vehicles that can navigate and operate without the assistance of a human. Autonomous vehicles are gaining popularity in the vehicle networking market due to their ability to improve driver and passenger safety, efficiency, and convenience. For instance, in September 2022, according to Nissan Motor Co. Ltd., a Japan-based automotive manufacturer, 55% of small businesses believe that they are going to have a fully autonomous fleet in the next two decades. Therefore, the increase in demand for autonomous vehicles drives the vehicle networking market.
Technological Advancements In Vehicle Networking
Technological advancements are a key trend gaining popularity in the vehicle networking market. Major companies operating in the market are frequently focusing on technological advancements to stay competitive by adopting new technologies. For instance, in December 2021, Marvell Technology, Inc., a US-based semiconductor and technology company, launched a multi-gig Ethernet camera bridge solution, 88QB5224, to distribute uncompressed video through in-vehicle networks. The new Ethernet device enables autonomous driving and brings in the next generation of automotive architectures providing standardization for in-vehicle video distribution in multiple areas including an innovative portfolio of data infrastructure semiconductor solutions spanning computing, networking, security, and storage.
The vehicle networking market covered in this report is segmented -
1) By Connectivity Standard: Controller Area Network [CAN], Local Interconnect Network [LIN], Radio Frequency [RF], FlexRay, Ethernet, Media Oriented Systems Transport [MOST]
2) By Vehicle: Passenger Vehicles [PV], Light Commercial Vehicles [LCV], Heavy Commercial Vehicles [HCV], Automated Guided Vehicles [AGV]
3) By Application: Powertrain Safety, Body Electronics, Chassis, Infotainment, Other Applications
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Major companies operating in the vehicle networking market report are NXP Semiconductors NV, Texas Instruments Incorporated, Robert Bosch GmbH, Microchip Technology Inc., Xilinx Inc., Infineon Technologies AG, Melexis N.V., STMicroelectronics N.V., Spirent Communications plc, Toshiba Corporation, Renesas Electronics Corporation, Broadcom Inc., Continental AG, Sierra Wireless Inc., NVIDIA Corporation, Vector Informatik GmbH, Aptiv plc, Intel Corporation, BlackBerry Limited, Harman International Industries Incorporated, Marvell Technology Group Ltd., Cypress Semiconductor Corporation, Analog Devices Inc., Maxim Integrated Products Inc., ON Semiconductor Corporation, Qualcomm Technologies Inc., Samsung Electronics Co. Ltd., LG Electronics Inc., Huawei Technologies Co. Ltd., ZTE Corporation, Telefonaktiebolaget LM Ericsson, Nokia Corporation .
Contents of the report:
1. Executive Summary
2. Vehicle Networking Market Report Structure
3. Vehicle Networking Market Trends And Strategies
4. Vehicle Networking Market - Macro Economic Scenario
5. Vehicle Networking Market Size And Growth
…..
27. Vehicle Networking Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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