Portland, OR, Jan. 17, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global automotive data cables market was valued at $7.0 billion in 2021 and is expected to hit $20.2 billion by 2031, registering a CAGR of 11.7% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report Coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $7.0 Billion |
| Market Size in 2031 | $20.2 Billion |
| CAGR | 11.7% |
| No. of Pages in Report | 247 |
| Segments Covered | Cable Type, Vehicle Type, Application, and Region. |
| Drivers | Rapid proliferation of advanced technologies in automobile electronics |
| Increasing sales of connected vehicles with sophisticated ADAS technologies | |
| Opportunities | Growing inclination toward lower energy usage |
| Restraints | Use of counterfeit auto parts |
| Lack of awareness about the usage of advanced automotive cables |
COVID-19 Scenario:
⦁ The disrupted supply chain across the world hampered the electronics and automotive sectors negatively, which had a negative impact on the global automotive data cables market, especially during the initial phase. Also, lack of availability of skilled professionals to develop automotive data cables solutions worsened the scenario even more.
⦁ However, a steep rise in the adoption of automotive data cables was reported as soon as remote working and learning practices became in most countries. This, in turn, gave way to an increase in demand for cables.
The global automotive data cables market is analyzed across cable type, vehicle type, application, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By cable type, the Controller Area Network (CAN) segment held the largest share in 2021, garnering around one-fourth of the global automotive data cables market revenue, and is projected to maintain its dominance by 2031. The Controller Area Network Flexible Data-Rate (CAN-FD) segment, on the other hand, would showcase the fastest CAGR of 12.83% during the forecast period.
By vehicle type, the passenger vehicles segment contributed to nearly three-fifths of the global automotive data cables market share in 2021, and is projected to rule the roost by 2031. The commercial vehicles segment, however, would display the fastest CAGR of 12.26% throughout the forecast period.
By application, the powertrain segment accounted for the highest share in 2021, generating nearly two-fifths of the global automotive data cables market revenue. The same segment would also portray the fastest CAGR of 12.27% during the forecast period. The other segments assessed through the study include Safety and ADAS, Body Control and Comfort, and Infotainment and Communication.
By region, Asia-Pacific held the major share in 2021, garnering nearly half of the global automotive data cables market revenue. The same region would also showcase the fastest CAGR of 12.62% from 2022 to 2031. The other provinces studied through the report include Europe, North America, and LAMEA.
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The key market players analyzed in the global automotive data cables market report include ACOME Group, Furukawa electric co., LTD, Belden Inc, Champlain Cable Corporation, Prysmian Group, Condumex S.A. de C.V., Coroplast Fritz Müller GmbH & Co. KG, BorgWarner Inc., COFICAB Group, Gebauer & Griller, Automotive Interconnect Solutions, and Sumitomo Electric Industries Ltd.
These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
Key Benefits For Stakeholders:
- This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current global automotive data cables market forecast is quantitatively analyzed from 2021 to 2031 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the automotive data cables market.
- The report includes the market share of key vendors and global automotive data cables market trends.
Automotive Data Cables Market Key Segments:
By Cable Type:
- Ethernet
- Controller Area Network Flexible Data-Rate (CAN-FD)
- Controller Area Network [CAN]
- Low Voltage Differential Signaling (LVDS)/High Speed Data (HSD)
- FlexRay
- Coaxial Cables
By Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
By Application:
- Safety and ADAS
- Body Control and Comfort
- Infotainment and Communication
- Powertrain
By Region:
- North America (U.S., Canada, and Mexico)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East and Africa)
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