Automotive Communication Technology Market Expansion Continues, with Forecast Valuation of $25.52 Billion by 2029

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How Large Will the Automotive Communication Technology Market Size By 2025?
The market size of automotive communication technology has seen a rapid expansion in recent years. It is set to escalate from $12.86 billion in 2024 to $14.84 billion in 2025, boasting a compound annual growth rate (CAGR) of 15.4%. Several factors have contributed to this historic growth, including the adoption of Controller Area Network (CAN) as a standard communication protocol, the introduction of the Local Interconnect Network (LIN) to enhance economical communication in entry-level vehicles, the creation of Flex Ray for high-speed data transmission in high-end automotive systems, the incorporation of Ethernet for improved bandwidth and connectivity in modern vehicles, and the implementation of Media-oriented systems transport (MOST) for premium multimedia streaming in luxury vehicles.

How Big Is the Automotive Communication Technology Market Size Expected to Grow by 2029?
The market size for automotive communication technology is projected to experience robust growth in the forthcoming years, escalating to $25.52 billion by 2029 with an impressive compound annual growth rate (CAGR) of 14.5%. The expected growth during the forecast period can be accredited to several factors such as the surge in connected and autonomous vehicles, the rising demand for advanced communication technology, incorporation of 5G connectivity offering faster and more trustworthy communication between vehicles and infrastructure, broadening of edge computing capabilities facilitating real-time data processing in automotive operations, increasing focus on cybersecurity solutions safeguarding against cyber threats in connected vehicles, and the increasing popularity of electric vehicles (EVs) enhancing the demand for communication technology for optimal battery management and charging infrastructure. Notable trends predicted for the forecast period comprise of a transition towards centralized vehicle architectures to facilitate communication efficiency and decrease complexity, growing utilization of OTA (over the-air) updates for vehicle software and firmware enhancements, emergence of vehicle-to-everything (V2X) communication to improve safety and efficiency on roads, increasing adoption of AI (Artificial Intelligence) and machine learning for predictive maintenance and personalized driving experiences, along with the implementation of blockchain technology for safe and transparent data exchange in automotive ecosystems.

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Which Key Market Drivers Powering Automotive Communication Technology Market Expansion and Growth?
The surge in connected car demand is anticipated to bolster the progression of the automotive communication technology market. Connected vehicles denote automobiles that are outfitted with internet and communication tech, facilitating their interaction with other cars, infrastructures, and external systems. The popularity of connected cars is on the rise due to advances in safety features, consumer appeal, value, and green concerns. Automotive communication technology is employed within these vehicles to enable uninterrupted connectivity, data interchange, and functionality synthesis, improving the overall driving experience, safety, and comfort. For instance, the Otonomo Report in March 2022, indicated that an Israel-based firm providing cloud-based SaaS solutions for car manufacturers expects the count of connected cars on the streets to grow from approximately 237 million in 2021 to over 400 million by 2025. Hence, the escalating demand for connected vehicles is fueling the expansion of the automotive communication technology market.

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Which Fast-Growing Trends Are Poised to Disrupt the Automotive Communication Technology Market?
Key players in the automotive communication technology market are aiming to stay competitive and attuned to changing consumer needs and regulatory standards by innovating, notably through the creation of centers of excellence. Such centers are set up to establish new standards in innovation and customer satisfaction within intelligent automotive communication. Taking the example of February 2024, CallRevu LLC, a software company from the United States, set up its center of excellence (COE) within the automotive communication technology sphere, aiming to redefine norms of innovation and customer satisfaction. The center features technology initiatives like an AI training prototype, improved security, operational efficiency, accessibility and inclusivity, and data analytics. This move showcases CallRevu's dedication to merging top-tier technology with strategic alliances, emphasizing a tech-neutral approach that concentrates on high-quality, scalable, and appropriate solutions.

What Are the Emerging Segments in the Automotive Communication Technology Market?
The automotive communication technologymarket covered in this report is segmented -

1) By Bus Module: Controller Area Network (CAN), Local Interconnect Network (LIN), Media-Oriented Systems Transport (MOST), FlexRay, Ethernet
2) By Vehicle Class: Luxury, Mid-Size, Economy
3) By Application: Powertrain, Infotainment Ans Communication, Body Control And Comfort, Safety And Advanced Driver Assistance System

Subsegments:
1) By Controller Area Network (CAN): High-Speed CAN (CAN HS), Low-Speed CAN (CAN LS), Fault-Tolerant CAN
2) By Local Interconnect Network (LIN): LIN 2.x, LIN 1.x
3) By Media-Oriented Systems Transport (MOST): MOST150, MOST25, MOST50
4) By FlexRay: FlexRay Standard (High-Speed), FlexRay Low-Speed
5) By Ethernet: Automotive Ethernet 100BASE-T1, Automotive Ethernet 1000BASE-T1, Time-Sensitive Networking (TSN) Ethernet

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Who Are the Global Leaders in the Automotive Communication Technology Market?
Major companies operating in the automotive communication technology market are Huawei Technologies Co. Ltd., Hitachi Ltd., Siemens AG, General Electric Company, Schneider Electric Inc., Honeywell International, Inc., ABB Ltd., Emerson Electric Co., Enbridge Inc., The Williams Companies, Inc., Wipro Enterprises (P) Ltd., Rockwell Automation Inc., Xylem Inc., Moxa Technologies, Targa Resources Corp., KROHNE Group, BRUGG Group AG, ORBCOMM, PSI Software, Optasense, Microflex, LLC, Pure Technologies Ltd., Necon Group, Sensornet, Open Access Technology International Inc.

Which are the Top Profitable Regional Markets for the Automotive Communication Technology Industry?
Asia-Pacific was the largest region in the automotive communication technology market in 2024. The regions covered in the automotive communication technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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