Press release
Automotive LIN Transceivers Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends
Automotive LIN Transceivers Global Market Report 2024
According to The Business Research Company's, The automotive LIN transceivers market size has grown strongly in recent years. It will grow from $3.62 billion in 2023 to $4.17 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to growth of LIN-enabled electronic power steering (EPS) systems, demand for LIN in automotive passive entry/passive start (PEPS) systems, growing use of LIN in automotive climate control modules, increasing deployment of LIN in automotive instrument clusters.
The automotive LIN transceivers market size is expected to see strong growth in the next few years. It will grow to $5.68 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to increasing demand for advanced comfort and convenience features, increasing demand for advanced electronics and communication systems, growing adoption of electric and hybrid vehicles, adoption of LIN 2.x technology, increasing use of LIN in advanced driver assistance systems. Major trends in the forecast period include integration of LIN transceivers with other communication protocols, shift towards LIN for decentralized automotive architectures, technological advancement, integration of LIN in automotive HVAC systems, integration of LIN transceivers with other communication protocols.
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Market Drivers and Trends:
The growing demand for electric and hybrid vehicles is expected to propel the growth of automotive LIN transceivers markets going forward. Electric and hybrid vehicles refer to automobiles that utilize electric propulsion systems either exclusively (electric vehicles) or in conjunction with an internal combustion engine (hybrid vehicles) for power. The increasing demand for electric and hybrid vehicles is due to their lower emissions of greenhouse gases and pollutants compared to traditional gasoline-powered cars. Automotive LIN transceivers enable efficient communication between various vehicle components, enhancing overall system performance, and facilitating the integration of advanced features crucial for electrified vehicle platforms. For instance, in July 2023, according to the International Energy Agency, a France-based autonomous intergovernmental organization, the total sales of electric cars experienced significant growth, more than tripling over three years, rising from approximately 4% in 2020 to 14% in 2022. Further, in the first quarter of 2022, sales of electric cars surpassed 2.3 million units, reflecting a notable increase of about 25% compared to the corresponding period last year. It is expected to see 14 million sales by the end of 2023, representing 35% year-on-year. Furthermore, in February 2024, according to the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade association, hybrid electric car sales saw a robust increase of 40.0%, while plug-in hybrid electric cars experienced a notable growth of 25.1%. Electrified vehicles accounted for 5.6% of the market, marking a rise from 4.0% in 2022. Therefore, the growing demand for electric and hybrid vehicles is driving the growth of the automotive LIN (local interconnect network) transceivers market.
Automotive LIN Transceivers Market Fueled By Demand For Advanced Electronics And Communication Systems
The increasing demand for advanced electronics and communication systems is expected to propel the growth of automotive LIN transceivers markets going forward. Advanced automobile electronics and communication systems refer to a complex network of interconnected technologies to enhance vehicle performance, safety, and connectivity. Increasing demand for advanced electronics and communication systems in the automotive sector is driven by consumers' growing emphasis on safety features. Automotive LIN transceivers facilitate the transmission of vital data among sensors, controllers, and actuators, ensuring the real-time responsiveness and precision needed for advanced electronic and communication systems such as ADAS to function efficiently and bolster driving safety. For instance, in April 2022, according to the Highway Loss Data Institute, a US-based nonprofit organization, the projection for 2026 indicates a significant advancement in the integration of advanced driver assistance and safety features within the registered vehicle landscape, with an estimated increase of over 20%. Specifically, rear cameras and parking sensors are expected to be standard in 71% and 60% of registered vehicles by 2026. Furthermore, the adoption of front automatic emergency braking (AEB) is anticipated to rise from 18% in 2021 to 43% by 2026 among registered vehicles. Therefore, the increasing demand for advanced electronics and communication systems is driving the growth of the automotive LIN (local interconnect network) transceivers market.
Major companies operating in the automotive LIN transceivers market focus on developing local interconnect network (LIN) system basis chips (SBC), such as TLIN1431x-Q1, to gain a competitive edge. The TL1431-Q1 is a precision programmable reference designed for use in electronic circuits. It is a local interconnect network (LIN) system basis chip (SBC) that facilitates seamless communication in automotive and industrial settings, simplifying wiring and reducing user costs. For instance, in October 2023, Texas Instruments Incorporated, a US-based semiconductor company, launched TLIN1431x-Q1, an automotive local interconnect network system basis chip. The chip features a watchdog, a high-side switch, limp home capability, a configurable WAKE input pin, a low dropout voltage regulator, a window-based watchdog supervisor, and wake-up methods.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
TDK Corporation, Toshiba Electronic Devices & Storage Corporation, STMicroelectronics, Infineon Technologies, Murata Manufacturing Co. Ltd., NXP Semiconductors, Analog Devices, Renesas Electronics Corporation, Texas Instruments, ROHM Semiconductor, Maxim Integrated, Littelfuse Inc., ON Semiconductor, Diodes Incorporated, Microchip Technology, Silicon Laboratories Inc., Allegro MicroSystems, Melexis, TT Electronics plc, Elmos Semiconductor SE, Kvaser AB
Automotive LIN Transceivers Market 2024 Key Insights:
• The automotive LIN transceivers market size is expected to see strong growth in the next few years. It will grow to $5.68 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
• Electric And Hybrid Vehicles' Impact On The Automotive LIN Transceivers Market
• Advancements In Automotive LIN Transceivers For Enhancing Communication And Efficiency With System Basis Chips
• Asia-Pacific was the largest region in the automotive LIN transceivers market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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