Over 13% CAGR, Automotive Communication Technology Market Will Expand by Powertrain Application

Global Automotive Communication Technology Market is projected to grow at a CAGR of over 13% by powertrain application over 2018-2024. As automobile manufacturers are inclined toward decreasing their dependence on the gasoline engine, the adoption of powertrain application is growing further. The use of network communication in powertrain sensor provides all the relevant information for transmission control and engine management, augmenting its usage rate.
The vehicle-to-everything (V2X) communicates directly with nearby cars, which includes vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P) and vehicle-to-vehicle (V2V). Qualcomm's product launch bears testimony to the fact that vehicles integrated with advanced technologies are likely to reduce automobile fatalities, which would further encourage automotive communication technology market players to work on their existing product portfolios.
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The Latin America automotive communication technology market is anticipated to cross over USD 1 billion by 2024. The growth is attributed to the rise in car sales throughout the region. In 2017, Brazil accounted for a rise of around 10% in new car sales, followed by Argentina and Mexico. Latin America is also projected to have around 8.5 million connected cars by 2023, which increases the demand for in-vehicle connectivity solution, accelerating the automotive communication technology market.
Global Automotive Communication Technology Market is projected to grow at a CAGR of over 14% by mid-sized car over 2018-2024. The average wiring in a mid-sized car consists of over thousand wires weighing around 45 kilos and measuring around a km in length. This has enabled automotive manufacturers to include bus networking in their vehicles to reduce the electronic system complexity and cost. Furthermore, the government has also enforced various restrictions for reducing CO2 emissions from vehicles of all sizes, driving the adoption of automotive communication technology solutions in these vehicles.
Some of the recent tech-based inventions in the auto space include anti-lock brakes, telematics, infotainment capabilities and automatic transmission, that are revolutionizing the automotive industry, further encouraging automotive communication technology market players. One of the most important factors that will drive the automotive communication technology market growth is the stringent regulatory landscape established by regional governments regarding safety standards.
The global automotive communication technology market has lately been emerging as a highly pivotal vertical of the overall automotive space, primarily owing to the robust innovations pertaining to automotive electronics. Incidentally, post the introduction of electronic control units (ECUs) in the automotive industry, vehicles had begun to come equipped with numerous wires, circuits with enormous dedicated wiring, which led to complex, bulky and expensive wiring equipment. However, with the deployment of noteworthy advancements, the technologies used in automobiles have transformed drastically, paving the way for the expansion of automotive communication technology industry.
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The leading companies functioning in the automotive communication technology market include: Robert Bosch, NXP Semiconductors, Microchip, Texas Instruments, Broadcom, Toshiba, Rohm Semiconductors, Qualcomm, Intel, and STMicroelectronics. The companies have adopted the strategy of mergers and acquisitions to expand their market presence and serve a larger customer base.
Major table of content: -
Chapter 3. Automotive Communication TechnologyIndustry Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Industry landscape, 2013-2024
3.4. Automotive communication technology ecosystem analysis
3.4.1. Automotive communication bus module providers
3.4.2. Automotive manufacturers
3.4.3. System integrators
3.4.4. Distributors
3.4.5. End users
3.5. Automotive communication technology architecture analysis
3.6. Automotive communication technology evolution
3.7. Technology & innovation landscape
3.7.1. Predictive analytics
3.7.2. Automotive telematics
3.7.3. Wireless technology
3.8. Regulatory landscape
3.8.1. North America
3.8.2. Europe
3.8.3. Asia Pacific
3.8.4. LAMEA
3.9. Industry impact forces
3.9.1. Growth drivers Stringent government regulations for reduction in automotive emission and improved vehicle safety Rise in the sales for luxury vehicles Development of autonomous vehicles Growth in the demand for automotive electronics Growing investment in automotive technology
3.9.2. Industry Pitfalls and Challenges Growing cybersecurity threats in connected vehicles High cost of the communication nodes inside the automotive Challenges in the maintenance of vehicle network infrastructure
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