Automotive Ethernet Market To Reach USD 3201.2 Million by 2029, witnessing a CAGR of 12.3%| Valuates Reports
BANGALORE, India, March 30, 2023 /PRNewswire/ -- Automotive Ethernet Market is segmented by Type (Automotive Local Area Network (LAN), Automotive Metropolitan Area Network (MAN)), By Application (Automotive Diagnostics, Cameras and ADAS, Infotainment, Other) : Global Opportunity Analysis and Industry Forecast, 2021-2028. It is published in Valuates Reports under the Autos & Vehicles Category.
The global Automotive Ethernet market was valued at USD 1596 million in 2022 and is anticipated to reach USD 3201.2 million by 2029, witnessing a CAGR of 12.3% during the forecast period 2023-2029.
Major factors driving the growth of the Automotive Ethernet Market
The widespread use of Advanced Driver Assistant Systems (ADAS), infotainment, the quick advancement of autonomous vehicle technology, and the low cost of ethernet have all contributed to the enormous growth of the automotive ethernet market. Automotive ethernet connects in-vehicle electronic systems more effectively than traditional harness does.
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TRENDS INFLUENCING THE GROWTH OF THE AUTOMOTIVE ETHERNET MARKET
The technology and applications assisting autonomous vehicles and ADAS systems are undergoing a significant shift within the automobile sector. Surprisingly, technology is blossoming and offering daily new and fascinating methods to communicate with the outside world and interact with other drivers while operating a vehicle. Although LVDS and other interfaces are used to send camera data, more and more often, LiDAR and other sensor data are transferred using automotive Ethernet. Because of the massive amount of data, automotive SoC designers are using Ethernet to enable high-performance networked communication. Ethernet with Time Sensitive Networking is the networking of choice as real-time networking becomes essential, especially for safety-critical applications like ADAS. This factor is expected to drive the growth of the Automotive Ethernet Market.
Vehicle access for diagnostics and ECU programming must be similarly effective due to the continuously evolving complexity of electronic systems and the steadily increasing volume of data in vehicles. Diagnostics via Internet Protocol have been specified for communication-based on Ethernet technology for this purpose (DoIP). Using standardized interfaces and data formats makes processing less prone to errors and reuse throughout a vehicle's entire life cycle significantly more effective. All pertinent standards that serve as the foundation for the components of diagnostic testers have taken DoIP into account. This factor is expected to drive the growth of the Automotive Ethernet Market.
Intelligent infotainment systems are extending the owner's digital lifestyle into their vehicles. In fact, infotainment systems are increasingly seen by consumers as a crucial distinction. Government-mandated safety measures like reversing cameras are further increasing the demand for efficient, dependable, and quick data transmission. Also, there is an increasing need for efficient, dependable, and high-speed connections as cars become more data-hungry. Given that the technology is generally understood, Ethernet is quickly gaining popularity for infotainment systems. This factor is expected to drive the growth of the Automotive Ethernet Market.
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AUTOMOTIVE ETHERNET MARKET SHARE ANALYSIS:
A rapid movement in consumer tastes towards technologically advanced automotive vehicles and a critical requirement for safe and fuel-efficient cars are driving demand for the driver assistance sub-segment. Likewise, OEMs are responding to the growing demand for next-generation autonomous and connected vehicles by offering in-car infrastructure in response to the huge growth in customer demand for vehicle infrastructure integration with high-tech devices.
In addition to dominating the global market in 2021, Asia-Pacific is anticipated to develop at the highest rate throughout the course of the analysis period. The automotive sector in the Asia-Pacific has undergone a remarkable transformation as a result of technological developments, stable socio-political conditions, and strong economic growth.
Key Companies:
- Broadcom
- Marvell
- Microchip Technology
- NXP Semiconductors
- TE Connectivity
- Infineon Technologies
- Realtek Semiconductor
- Toshiba
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SIMILAR REPORTS:
- Ethernet Testers market size is projected to reach USD 3002.4 million by 2028, from USD 760 million in 2021, at a CAGR of 21.4% during 2022-2028.
- Metro Ethernet market estimated at USD 28860 million in the year 2022, is projected to reach a revised size of USD 53420 million by 2028, growing at a CAGR of 10.8% during the forecast period 2022-2028.
- Power Over Ethernet (POE) Controllers market was valued at USD 247.9 million in 2020 and it is expected to reach USD 342.7 million by the end of 2027, growing at a CAGR of 4.6% during 2021-2027.
- The global In-Car Infotainment market size is projected to reach USD 44620 million by 2028, from USD 25730 million in 2021, at a CAGR of 7.7% during 2022-2028.
- Automotive Remote Diagnostics market size is projected to reach USD 14920 million by 2027, from USD 7116.3 million in 2020, at a CAGR of 10.7% during 2021-2027.
- Automotive Plastics market size is estimated to be worth USD 42530 million in 2022 and is forecast to a readjusted size of USD 71060 million by 2028 with a CAGR of 8.9% during the review period.
- Due to the COVID-19 pandemic, the global Automotive Motor market size is estimated to be worth USD 53900 million in 2022 and is forecast to a readjusted size of USD 63250 million by 2028 with a CAGR of 2.7% during the review period.
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- Automotive Upholstery market size is estimated to be worth USD 4915.4 million in 2022 and is forecast to a readjusted size of USD 6700.9 million by 2028 with a CAGR of 5.3% during the review period.
- Bluetooth in Automotive market size is projected to reach USD 128880 million by 2028, from USD 37220 million in 2021, at a CAGR of 19.3% during 2022-2028.
- The global automotive software market was valued at USD 18.5 billion in 2019, and is projected to reach USD 43.5 billion by 2027, registering a CAGR of 14.5% from 2020 to 2027.
- Automotive Headliner market size is estimated to be worth USD 26040 million in 2022 and is forecast to a readjusted size of USD 33330 million by 2028 with a CAGR of 4.2% during the review period.
- Due to the COVID-19 pandemic, the global Automotive Connectors market size is estimated to be worth USD 20540 million in 2022 and is forecast to a readjusted size of USD 29130 million by 2028 with a CAGR of 6.0% during the review period.
- Off Road Vehicle market estimated at USD 12.6 billion in the year 2021, is projected to reach a revised size of USD 16.8 billion by 2028, growing at a CAGR of 4.2% during the forecast period 2022-2028.
- Electric Vehicle (EV) Charging Stations market size is estimated to be worth USD 2419.2 million in 2022 and is forecast to a readjusted size of USD 12490 million by 2028 with a CAGR of 31.5% during the review period.
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