Automotive Communication Technology Market Growth Trends Research and Projections for 2021-2024

By Ronak Bora

Automotive communication technology market is anticipated to accrue annual revenues of over $8 billion from the safety and ADAS segment by 2024. The systems use automotive ethernet that delivers in-vehicle network, which in turn enables a cross-domain communication and will accelerate their rate of their adoption in vehicles over the forecast duration.
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.
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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 industry.
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
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.
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.
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 industry 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.
Driven by an unprecedented advancement in terms of automotive electronics along with enhanced safety regulations, 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.
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Partial Chapter of the Table of Content
Chapter 6.   Automotive Communication Technology Market, By Vehicle Class
6.1.  Key trends, by vehicle class
6.2.  Economy
6.2.1.    Economy market estimates and forecast, 2013-2024
6.3.  Mid-sized
6.3.1.    Mid-sized market estimates and forecast, 2013-2024
6.4.  Luxury
6.4.1.    Luxury market estimates and forecast, 2013-2024
Chapter 7.   Automotive Communication Technology Market, By Distribution Channel
7.1.  Key trends, by distribution channel
7.2.  OEMs
7.2.1.    OEMs market estimates and forecast, 2013-2024
7.3.  Distributors
7.3.1.    Distributors market estimates and forecast, 2013-2024
Chapter 8.   Automotive Communication Technology Market, By Application
8.1.  Key trends, by application
8.2.  Powertrain
8.2.1.    Powertrain market estimates and forecast, 2013-2024
8.3.  Body and comfort electronics
8.3.1.    Body and comfort electronics market estimates and forecast, 2013-2024
8.4.  Infotainment and Communication
8.4.1.    Infotainment and Communication market estimates and forecast, 2013-2024
8.5.  Safety and ADAS
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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