Press release
Global Vehicle Networking Market: Surge in Demand, Rising CAGR & Remarkable Players Driving Growth
Vehicle Networking Market Trends
What Is The Projected Market Size Of The Global Vehicle Networking Market And Its Growth Rate?
The global Vehicle Networking Market has witnessed an impressive growth over the past few years and continues to expand. Key statistics include:
- The market size was $1.16 billion in 2024 and is expected to rise to $1.25 billion in 2025 at a CAGR of 8.0%.
- The market is projected to expand to $1.76 billion in 2029 at a CAGR of 8.9%.
- Major driving factors in the historic period included the rise of intelligent transportation systems, 5G connectivity, and emergence of electric and hybrid vehicles.
- The forecast period growth is expected to be driven by 5G implementation, autonomous vehicles, cybersecurity concerns, and environmental sustainability initiatives.
What Is Driving The Growth In The Vehicle Networking Market?
The global Vehicle Networking Market has surged due to the increasing demand for autonomous vehicles. Self-driving cars, known for their efficiency and convenience, are gaining market traction. For example, in September 2022, Nissan Motor Co. Ltd. revealed that 55% of small businesses believe in having a fully autonomous fleet within the next two decades. These advancements in autonomous vehicle technology significantly contribute to the growth of the market.
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Who Are the Key Players Driving Vehicle Networking Market Growth?
The major companies instrumental in driving the vehicle networking market growth include:
- 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
What Are The Key Trends In The Vehicle Networking Market?
Major trends anticipated in the forecast period include:
- Expansion of over-the-air (OTA) updates
- Growing ecosystem of connected services
- Shift toward electrification and autonomous vehicles
- Emphasis on standardization and interoperability
- Integration of edge computing
What Are The Segments Of The Global Vehicle Networking Market?
The global Vehicle Networking Market is segmented by:
1) Connectivity Standard: Controller Area Network [CAN], Local Interconnect Network [LIN], Radio Frequency [RF], FlexRay, Ethernet, Media Oriented Systems Transport [MOST]
2) Vehicle: Passenger Vehicles [PV], Light Commercial Vehicles [LCV], Heavy Commercial Vehicles [HCV], Automated Guided Vehicles [AGV]
3) Application: Powertrain Safety, Body Electronics, Chassis, Infotainment, Other Applications
Which Region Leads The Vehicle Networking Market?
North America was the largest region in the vehicle networking market in 2024. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What Is Covered In The Vehicle Networking Market Global Market Report?
- Market Size Analysis: Analyze the Vehicle Networking Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Vehicle Networking Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Vehicle Networking Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Vehicle Networking Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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