Automotive Communication Technology Market to surpass 18 billion USD by 2024c

The global automotive communication technology market is slated to surpass a total remuneration portfolio of about USD 18 billion by the end of 2024. Foremost semiconductor manufacturers such as Texas Instruments, Cypress Semiconductor, Infineon, Melexis, Xilinx, Robert Bosch, Intel, Broadcom, Continental, and On Semiconductor are leading the competitive landscape of the automotive communication technology industry.

In terms of geographical trends, Europe has been emerging rapidly as one of the most lucrative growth terrains for the automotive communication technology market in the recent past. In fact, as per a research report compiled by Global Market Insights, Inc., Europe automotive communication technology market apportioned more than 26 percent of the total revenue share in the year 2017. The increasing product demand can be attributed to the gradually rising public awareness regarding automotive safety and strict government regulations.

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Owing to the advent of highly innovative automotive electronics, the automotive communication technology market has been emerging as one of the most lucrative niche verticals of the global automotive and transportation industry. The incorporation of telematics, anti-lock brakes, automatic transmission, and infotainment capabilities has revolutionized the automotive sector in the recent years. Moreover, the advanced electronic systems help in meeting the safety guidelines such as lane chase assist, blind spot detection, and adaptive cruise control, enabling the rapid expansion of automotive communication technology market.

It is quite a well-known fact that the integration of advanced technologies in vehicles reduces the automobile fatalities. Considering this plausibility, numerous major automotive electronics manufacturers have been introducing vehicle-to-everything communications chipset to ensure improvement in safety features. Qualcomm Technologies Inc., for instance, recently launched a new 9150 C-V2X chipset which brings automakers one step closer to installing the communications unit required for fully autonomous vehicles. The new auto chipset encompasses two transmission modes viz. network-based communications and direct communications. Needless to mention, the introduction of such highly advanced automotive electronics is certain to provide an exceptional impetus to the automotive communication technology market trends in the near future.

Amongst all the advanced technologies being unveiled in the automotive communication technology market, the Media Oriented Systems Transport (MOST) technology has been gaining exceptional traction in the recent times. As per a research report put together by Global Market Insights, Inc., the MOST bus segment apportioned a revenue share of more than USD 1 billion in 2017 and has been growing at a commendable pace. The latest versions of this technology are capable to transport control, packet, audio, and video information throughout the vehicle much efficiently and predictably without time-synchronization protocols, utilizing dedicated channels for minimum processor overhead in the major infotainment control systems. Moreover, the upgraded versions MOST150 offer a speed of about 150 Mbps, enabling its utilization in different automotive communication applications.

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According to a few reliable estimates, about 200 million MOST interface controllers have been installed in more than 200 vehicle models of different automotive brands since the year 2001. Prominent car manufacturers across the globe have been successfully implementing MOST technology in their multi-node infotainment systems, as it provides a whole-system, low-risk, and field-proven solution. For instance, the German automotive behemoth Daimler AG had announced in 2017 that it would incorporate Microchip Technology’s new OS81118 Intelligent Network Interface Controller (INIC) with a coaxial transceiver to create the next-gen infotainment networking platform for its various car models. The new INIC has been equipped with all the benefits of Daimler’s MOST150-based systems and would help the conglomerate in significantly lowering the costs by moving to coaxial cabling.

In this regard, it would prudent to take note of the fact that Poland has been at the forefront in terms of incorporating the newly launched and high-grade automotive communication technology. In addition to this, Poland is set to become the second largest automotive hub in the continent after Germany in the upcoming years, paving the way for more automotive communication technology market participants to establish their base in the nation. The region is already home for prominent automotive semiconductor providers such as Vector Informatik, STMicroelectronics, NXP Semiconductor, and Elmos Semiconductor, impelling the growth prospects of the automotive communication technology industry.

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