Automotive Communication Technology Market by Bus Module (LIN, CAN, FlexRay, MOST, and Ethernet), Application (Powertrain, Body Control & Comfort, Infotainment & Communication, and Safety & ADAS), Vehicle Class, and Region - Global Forecast to 2025
Northbrook, IL -- (SBWIRE) -- 06/25/2018 -- The global automotive communication technology market is estimated to be USD 6.78 billion in 2018 and is projected to grow at a CAGR of 16.7% during the forecast period, to reach USD 19.99 billion by 2025. Some of the major growth drivers for the market are the growing number of electronic systems in passenger cars, government mandates, and industry norms to reduce emission and improve the safety of vehicles. The rise in sales of premium vehicles and the emergence of autonomous vehicles can create new revenue generation opportunities for automotive communication technology providers. However, increase in cybersecurity threats for connected vehicles can pose a challenge for automotive communication technology providers.
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Asia Pacific to hold the largest share of Automotive Communication Technology Market in 2025
Asia Pacific is projected to be the largest market for automotive communication technology from 2018 to 2025. The market growth in the region can be attributed to factors such as factory fitted advanced electronics and government initiatives regarding the use of electronics to minimize the emissions from powertrain system and improve the safety applications in the vehicle. Europe is projected to be the second largest market for automotive communication technology from 2018 to 2025. The market growth in Europe can be attributed to the increasing awareness regarding advanced vehicle electronics and convenience inside a vehicle.
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Ethernet to be the fastest growing market and CAN to hold the largest market during the forecast period
The Automotive Communication Technology Market for Controller Area Network (CAN) segment is estimated to be the largest during the forecast period. The increase in electronic components in the powertrain and body control & comfort applications is driving the market for CAN in the global Automotive Communication Technology Market. Ethernet is estimated to be the fastest growing segment during the forecast period. The increasing installation of connected technologies and safety & ADAS features is driving the growth of Ethernet segment.
Luxury vehicle is expected to be the largest segment of Automotive Communication Technology Market, by vehicle class, from 2017 to 2025
The luxury vehicle segment is expected to hold the largest share of the Automotive Communication Technology Market, by vehicle class. This segment is projected to grow at a significant CAGR and is expected to remain the largest market during the forecast period. The increasing demand for premium vehicles with advanced comfort and safety features is expected to drive the growth of this segment.
The Automotive Communication Technology Market is dominated by a few globally established players, such as Robert Bosch (Germany), Toshiba (Japan), Broadcom (US), Texas Instruments (US), and NXP (Netherlands).
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