Selbyville, Delaware,, Oct. 12, 2022 (GLOBE NEWSWIRE) -- The vehicle networking market valuation is expected to cross USD 3 billion by 2030, as reported in a research study by Global Market Insights Inc. A strong focus of governments on curbing carbon emissions from automobiles will boost the deployment of vehicle network communication technology. The automobile industry dominated a major proportion of the total annual carbon emissions worldwide. Notable carbon emission reduction initiatives will encourage consumers to make a shift toward lightweight and electric vehicles equipped with a wide range of electrical components.
Automotive in-vehicle networking can enable electrical components to transform and transfer data from one component to another. The consistent increase in demand for autonomous vehicles to reduce carbon emissions will therefore stimulate networking components integration.
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The vehicle networking market value from the automated guided vehicles (AGV) segment is poised to depict a CAGR of about 7% through 2030. The burgeoning investment in smart factories to lower operational costs and increase the efficiencies of production facilities is among the major growth factor. Additionally, AGVs are designed to provide self-driving experiences, making them an ideal mode of transport in facilities such as warehouses. Since autonomous driving relies heavily on proper communication among components, the need to improve the operations of smart production facilities will increase the adoption of vehicular network architecture.
The CAN (controller area network) connectivity standard segment held more than 29.5% of the market revenue share in 2021. CAN bus systems have the capability of to enable seamless communication between electronic control units (ECUs), through the connection of each ECU to the serial bus. The report also cites that the CAN connectivity protocol is becoming increasingly applicable in different vehicles due to medium- and low-speed automotive control applications.
In terms of the application, the vehicle networking market share from the infotainment segment is projected to exhibit growth of over 7.5% between 2022 and 2030. The deployment of vehicle networking in infotainment systems can enhance driving experiences. It can also be connected to ADAS systems, sensors, V2X connectivity solutions, and other smart automotive technologies which are available in connected cars. The rising production and sales of connected vehicles will thus influence installation of vehicle networking solutions for infotainment applications.
The Latin America vehicle networking industry revenue surpassed USD 149 million in 2021. The region has witnessed an increasing rate of road accidents in nations such as Mexico and Brazil. According to the World Health Organization, in Brazil, road traffic accidents accounted for 3.01% of the total deaths in 2020. Incidents such as these will augment the use of networking technologies for seamless communications between auto components to deliver safer driving, bolstering the regional outlook.
The competitive landscape of the vehicle networking market comprises of participants such as Analog Devices, Bosch, Broadcom Inc., Elmos Semiconductor AG, Infineon Technologies AG, Melexis NV, Microchip Technology Inc, NXP Semiconductors, Spirent, Communications PLC, Toshiba Corp., and Xilinx Inc., among others. These companies are focusing on new product launches to gain a competitive edge over rivals in the global market.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Vehicle networking industry 360º synopsis, 2018 – 2030
2.1.1 Business trends
2.1.1.1 Total Addressable Market TAM, 2022 – 2030
2.1.2 Regional trends
2.1.3 Vehicle type trends
2.1.4 Connectivity standards trends
2.1.5 Application trends
Chapter 3 Vehicle Networking Industry Insights
3.1 Introduction
3.2 COVID-19 impact
3.3 Ukraine-Russia war impact
3.4 Industry ecosystem analysis
3.5 Vehicle networking architecture
3.6 Vehicle networking connectivity standards
3.7 Technological & innovation landscape
3.8 Patent landscape
3.9 Key News, by region
3.10 Regulatory landscape
3.11 Industry impact forces
3.11.1 Growth drivers
3.11.2 Industry pitfalls & challenges
3.12 Growth potential analysis
3.13 Porter’s analysis
3.14 PESTEL analysis
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
