Automotive Data Cables Market for data cables sector is expected to witness fastest growth over 2023-2032

The automotive data cables market is slated to grow massively by 2032 owing to increasing adoption of data cables in vehicle infotainment and V2V communication. In addition, surging demand for premium vehicles, along with a positive outlook among automotive manufacturers for vehicle telematics, is likely to propel market growth over the forecast period.
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The COVID-19 pandemic posed a threat as a result of disruptions in manufacturing processes and strict lockdowns hampering transportation across geographical boundaries. However, government support for automotive components manufacturers has boosted product outreach. For instance, in May 2020, Spanish player Gestamp, a developer and manufacturer of metal components for the automotive industry, received over $228 million from the European Investment Bank (EIB) to develop new research lines enabling the production of safer, lighter, and therefore more environmentally friendly cars.
Moreover, the major players in the industry have been focusing on technological advancements, new product launches, and R&D projects to strengthen their business position. For instance, in September 2022, Aptiv PLC, an automotive technology company, inked an acquisition agreement worth 85% equity stakes in Intercable Automotive Solutions, a provider of high-voltage busbars and interconnect solutions.
The automotive data cables market has been bifurcated in terms of cable, vehicle, application, and region.
Based on cable, the automotive data cables market has been divided into controller area network [CAN], FlexRay, controller area network flexible data-rate [CAN-FD], ethernet, coaxial cables, and low voltage differential signaling (LVDS)/high-speed data (HSD). The coaxial cables segment is anticipated to depict over 8.5% growth from 2023 to 2032. The segment growth is attributed to significant utilization in deployment of central locking, GPS and radio antenna systems as they sustain volatile environmental conditions and ensure high quality data transmission.
With respect to application, the automotive data cables market has been classified into powertrain, body control & comfort), infotainment & communication, safety & ADAS. Th safety & ADAS segment accounted for more than 20% market share in 2022 as a result of considerable demand for advanced assistance systems such as Forward Collision Warning Systems (FCWS), night vision cameras, etc. which requires enterprises to ensure robust connectivity and data transmission for better response management.
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In the regional context, the Latin America automotive data cables market is primed to expand at over 11% CAGR between 2023 and 2032. Favorable government initiatives in the LATAM region are poised to fuel growth in the regional market. For instance, the Brazilian government unveiled Route 2030 Program for the automotive industry which consists of a 15-year plan divided into three five-year phases.
Meanwhile, the automotive data cables industry in the Middle East & Africa is expected to witness growth at over 9.5% CAGR over the next 10 years due to mounting government efforts towards carbon neutrality and accelerating electric mobility infrastructure.