Automotive Communication Technology Market growth, is driven by the demand for sophisticated vehicle electronics that enhance safety, comfort, & efficiency

AUSTIN, TX, UNITED STATES, December 9, 2024 /EINPresswire.com/ --

Automotive Communication Technology Market

The Automotive Communication Technology Market was valued at USD 8.20 billion in 2023 and is projected to reach USD 30.15 billion by 2032, growing at a CAGR of 15.57% during the forecast period from 2024 to 2032.

The Automotive Communication Technology Market Is Surging Due to Electronic Systems That Improve Vehicle Safety and Performance.

The adaptive cruise control, lane-keeping assist, and blind-spot recognition systems are becoming ever more necessary in cases where manufacturers have to meet very strict regulatory safety standards. All these depend on the robust communication technologies that will make interaction between vehicle subsystems appear seamless.

The Automotive Communication Technology Market has applications like power trains, chassis, safety systems, infotainment, and body comfort. The former benefits largely from advanced in-vehicle electronics, which has been a market growth enabler. Electronic control units allow the features of different systems on the vehicle to communicate with each other, simplify the circuits, and make the functioning easier and more efficient.

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Key Players Listed in Automotive Communication Technology Market Are:

• Robert Bosch
• Broadcom Inc.
• NXP Semiconductors N.V.
• •Continental AG
• ON Semiconductor
• Toshiba Corporation
• Texas Instruments
• Infineon Technologies AG
• Renesas Electronics Corporation
• STMicroelectronics

Luxury Vehicles and Autonomous Driving Propel Growth in Automotive Communication Technology Market.

The increasingly diversified population of luxury vehicles, which come equipped with state-of-art communication technologies, is a major growth driver for the Automotive Communication Technology Market. Today, premium automobiles boast autonomy driving capabilities, advanced driver-assistance systems, and active chassis stability, which depends on leading-edge communication technology.

Moreover, the growing sophistication in autonomous driving technologies has opened up significant opportunities in the market for players. As the automotive sector steps into fully autonomous automobiles, the demand for reliable and efficient communication systems is expected to rise. Automakers and technology providers are investing massively in research and development to develop these systems to pave the way for smart and safe vehicles.

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Automotive Communication Technology Market Segment Analysis

By Application:

Infotainment & Communication segment is dominating the Automotive Communication Technology Market as of 2023. Infotainment systems involve audio and video contents, navigation, vehicle diagnostics, social networking, and games, making them an important component for the convenience of driving. Controller Area Network (CAN) and Media-Oriented Systems Transport (MOST) networks played a crucial role in fulfilling the requirements of modern infotainment systems. Technologies like CAN and MOST help in easy communication and allowing for data transmission without disturbance in the vehicle, which supports growth in this market.

By Bus Module:

Ethernet segment is dominating the Automotive Communication Technology Market as of 2023 due to its low cost, scalability in its high bandwidth and synchronization capabilities. Ethernet has thus emerged as the best choice to fulfill the demand for in-vehicle networking technology, along with its adaptability to rapidly evolving automotive platforms as well as robust functionality.

By Vehicle Class:

Luxury segment led in Automotive Communication Technology Market in 2023. Now, the key features in most advanced automobiles include adaptive cruise control, ADAS, and active chassis stability, wherein manufacturers have relied upon the comfort and safety of the vehicle. Integration of all of these technologies over the past ten years has gauged up market growth quite significantly.

Automotive Communication Technology Market Key Segmentation:

By Application:

• Powertrain
• Body Control & Comfort
• Infotainment & Communication
• Safety & ADAS

By Bus Module:

• Local Interconnect Network (LIN)
• Media-Oriented Systems Transport (MOST)
• Controller Area Network (CAN)
• FlexRay
• Ethernet

By Vehicle Class:

• Economy
• Luxury
• Mid-Size

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Regional Analysis:

The Asia Pacific region will lead the Automotive Communication Technology Market in the forecast period 2024-2032. Growth in the region is encouraged by several factors, such as increased vehicle production, rising adoption of advanced safety regulations, and growing infrastructure investments. Escalating sales of luxury vehicles and booming construction activities in the region also drive market demand.

Despite these growth drivers, complexity in electronic architectures remains too high, whereas the involvement of a node for communication means incurs added cost in vehicles. The growth prospects for market players, however, lie in the emerging economies and the constant innovations in communication technologies.

Recent Developments

November 2024: Toshiba launched the TB9084FTG three-phase brushless DC motor gate driver IC. Brushless motors have higher performance and longevity than brushed motors, from which they are increasingly displacing the old leads.
July 2024: Renesas Electronics has launched the R-Car S4 Starter Kit development board for automotive gateway systems. This development board supports both cloud communication and secure vehicle control, representing the trend of advanced automotive solutions supported by Renesas.'

Table Of Contents

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Automotive Communication Technology Market Segmentation, by Application
9. Global Automotive Communication Technology Market Segmentation, by Bus Module
10. Global Automotive Communication Technology Market Segmentation, by Vehicle Class
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Conclusion

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