Global Automotive Communication Technology Market Report - Market Size, Share, GPosted by Ajay on December 22nd, 2020 Global Automotive Communication Technology Market Report - Market Size, Share, Growth, Latest News & Trends, Current Strategies Adopted, Demand & Supply, Industry and Competitors Analysis, Impact of Covid 19 and Forecast 2020-2028.
Market Overview and Latest Updates: Automotive Communication Technology Market was valued at US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2028, at a CAGR of XX % during a forecast period. The automotive industry has evolved rapidly over the past decade with the rising usage of Electronic Control Units (ECUs), which have positively influenced the way various automobile subsystems communicate. These automobiles have a large number of sensors, wires, and circuits with enormous dedicated wiring, leading to bulky, complex, and expensive wiring harnesses. This has led to the adoption of automotive communication technology as they provide higher bandwidth, security, determinism, and fault tolerance capabilities, reducing circuit complexity. The growth in the demand for automotive electronics plays a vital role in the rising demand for automotive communication technology market. The electronic systems assist in meeting the safety regulations such as adaptive cruise control, blind spot detection, and lane chase assist, encouraging manufacturers to incorporate these systems into their vehicles. All these subsystems are connected to the central gateway through various bus modules including CAN, MOST, and Ethernet, enhancing in-vehicle communication and safety. The powertrain, chassis, safety, infotainment, and body comfort are the major applications that use the automotive communication technology due to which car manufacturers have increased the adoption of in-vehicle electronics, in turn augmenting the automotive communication technology market growth. Market Dynamics: Drivers:
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GlobalAutomotive Communication Technology Market: Growth Factors: It is anticipated that the global automotive communication technology market will grow at a rapid rate in the coming years. The major factor that is driving the automotive communication technology market is the growing demand for the automotive systems owing to the increasing government mandates. Another factor that is driving the growth of the automotive communication technology market is the increasing use of the electrical systems in the automobiles. The government has imposed norms and regulations to increase the safety measures in the automobiles and to reduce the emissions. The development of the autonomous vehicles is expected to open up growth opportunities for the market. The reduced reliability and the increased complexity in the electronics architecture are expected to limit the growth of the automotive communication technology market. The complexity in troubleshooting the network architecture in the vehicles and the soaring maintenance cost attributes to pose challenges for the growth of the market. Fore More information click on :- https://visionmarketresearch.com/report/global-automotive-communication-technology-market-report/133754 Segments covered for the Automotive Communication Technology Market: By Bus Module:
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By Region Analysis: Asia Pacific dominates the automotive communication technology market with the market revenue anticipated to reach over USD XX billion by 2028. The major factors contributing to the market growth include rapid improvements in communication capabilities, increasing demand for premium cars, rising FDI in the automotive sector, and increased government mandates for reducing CO2 emissions from powertrain systems. China accounts for the largest market revenue in this region with the country witnessing an increase in the car registrations with a corresponding growth in the automotive electronics market in 2017, driving the market growth. North America is projected to grow at the highest rate and is expected to grow at a CAGR of around XX % over the forecast period. Factors such as high standards of living, demand for advanced technologies, and growing government mandates for safe & secure vehicles have led to market growth in this region. The U.S. Environmental Protection Agency (EPA) has established standards for vehicle emissions to improve the air quality. By Region: North America
South America
Europe
Asia-Pacific
Middle East and Africa
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