PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498777
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498777
Automotive Communication Technology Market size was valued at USD 11,298.43 million in 2023, expanding at a CAGR of 16.20% from 2024 to 2032.
The development of autonomous vehicles requires sophisticated communication systems for real-time data exchange between vehicles, infrastructure, and the cloud. This drives the need for robust automotive communication technologies. Electric vehicles rely heavily on communication technologies for battery management, charging infrastructure, and integration with smart grid systems, driving the demand for automotive communication solutions. As vehicles become more connected, they become susceptible to cyber-attacks and data breaches. Ensuring the security of communication networks and data transmission poses a significant challenge for automotive manufacturers. Furthermore, the proliferation of connected car services, including telematics, over-the-air (OTA) updates, and predictive maintenance, opens up avenues for automotive communication technology providers to offer value-added services and solutions.
Automotive Communication Technology Market- Market Dynamics
Increasing Demand for Connected Vehicles
Consumers increasingly expect their vehicles to be connected, offering features such as in-car Wi-Fi, real-time navigation, remote diagnostics, and entertainment streaming. According to the data, In 2021, there were about 84 million connected cars on the roads in the United States. Connectivity enhances the overall driving experience and convenience for consumers. Automotive communication technology enables vehicle-to-cloud (V2C) communication, allowing vehicles to access cloud-based services such as over-the-air updates, predictive maintenance, and remote diagnostics. This enhances vehicle efficiency, reduces downtime, and lowers maintenance costs for both consumers and fleet operators.
Automotive Communication Technology Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 16.20% over the forecast period (2024-2032)
Based on vehicle type segmentation, passenger was predicted to show maximum market share in the year 2023
Based on application segmentation, Infotainment, and Telematics was the leading type in 2023
Based on technology segmentation, Controller Area Network (CAN) was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Automotive Communication Technology Market is segmented based on Vehicle Type, Application, Component, Technology, and Region.
The market is divided into seven categories based on technology: Controller Area Network (CAN), Local Interconnect Network (LIN), FlexRay, Media Oriented Systems Transport (MOST), Ethernet, BroadR-Reach, and Wireless Communication Technologies. The CAN module is anticipated to maintain its supremacy in the upcoming years, having secured a significant market share. Due to its growing range of uses, the CAN bus is now a common option for vehicles (cars, buses, trucks, tractors, and so on), as well as for EV batteries, machinery, airplanes, ships, and many other applications.
The market is divided into four categories based on vehicle type: Passenger Vehicles, Commercial Vehicles, Electric Vehicles (EVs), and Autonomous Vehicles. Automotive communication technology in commercial vehicles provides numerous benefits that enhance safety, efficiency, and overall operational effectiveness. Communication technologies enable advanced driver assistance systems (ADAS) like collision avoidance, lane departure warnings, and adaptive cruise control, significantly reducing the risk of accidents.
Automotive Communication Technology Market- Geographical Insights
North America, particularly the United States and Canada, is at the forefront of adopting advanced automotive communication technologies. This includes V2V (Vehicle-to-Vehicle) and V2I (Vehicle-to-Infrastructure) communication systems. The region hosts several key players in the automotive industry, such as General Motors, Ford, and Tesla, which are heavily investing in communication technology R&D. The U.S. government has implemented various regulations and initiatives to promote road safety and reduce traffic congestion through advanced communication technologies. North America has a substantial market size with a robust growth trajectory, driven by technological advancements and consumer demand for connected vehicles.
Major players in the automotive communication technology market include Robert Bosch, Toshiba, STMicroelectronics, Texas Instruments, Microchip Technology, etc. Bosch is a leading global supplier of technology and services, with a strong presence in automotive components. The company's expertise in various automotive systems, including powertrain and safety, gives it a competitive edge. Continental is known for its extensive portfolio in automotive safety, infotainment, and communication systems. Their integrated solutions cater to a wide range of automotive communication needs. As a major supplier in the automotive sector, Denso provides robust communication and control systems. Their strong research and development capabilities help in pioneering new technologies. Valeo and Qualcomm deepen technology collaboration to support small mobility (2-wheelers and 3-wheelers) in India.
In June 2024, L&T Technology Services as well as the IIT Hyderabad have established a relationship to promote industrial and academic growth in the fields of ADAS as well as Cellular Vehicle-to-Everything.
In July 2023, Tech Auto, and ZettaScale collaborated to launch in-vehicle, V2X service. This collaboration will bring software-defined vehicle technology providers and open-source communication middleware firms.
GLOBAL AUTOMOTIVE COMMUNICATION TECHNOLOGY MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Toshiba Corporation
Robert Bosch
Texas Instruments
Broadcom Inc.
NXP Semiconductors
Infineon Technologies AG
STMicroelectronics
Renesas Electronics Corporation
Microchip Technology Inc.
ON Semiconductor
Rohm Semiconductor
Maxim Integrated
Melexis NV
Xilinx Inc.
Elmos Semiconductor SE
Analog Devices
Vector Informatik GmbH
Intel Corporation
Others