Booming Automotive Sector to Promote In-Vehicle Networking (IVN) Market Outlook 2019-2025
Market Overview:
The in-vehicle networking market is gaining immense popularity across the globe. Surging demand for convenience, advanced safety, and comfort systems are considered some of the major factors propelling the market growth in the estimated timeframe. Electronic systems are used to offer comfort, enhanced safety, and better convenience in automobiles, which is considered a major growth factor of the in-vehicle networking market across the globe. Surging trend of vehicle electrification and rising vehicle production are predicted to contribute to the growth of the market in the foreseeable future.
The market is envisioned to attain an imposing impetus while riding on the performance of connecting various functionalities such as control and communication. Vehicles are becoming extremely electrified with every innovation proliferating the automobile industry. Thus, there can be the advent of electronic functionality in vehicles in order to enhance comfort, safety, and environmental performances. Moreover, novel consumer applications in this sector will fortify the growth of the market in the coming years.
On the contrary, extensive pricing pressure from low-end cars, especially in the emerging nations will dampen the growth of the in-vehicle networking market in the estimated timeframe.
The key players covered in this study:-
NXP Semiconductor
Infineon Technologies
Texas Instruments
Robert Bosch
Xilinx
STMicroelectronics
ON Semiconductor
Atmel
Microchip Technology
Elmos Semiconductor
Melexis Semiconductors
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Segmental Analysis:
The global in-vehicle networking market has been segmented on the basis of type and application.
By type, the in-vehicle networking market is segmented into connectivity devices, dashboard, audio/video devices, and others.
The application segment comprises LCV, HCV, passenger car, and others. In-vehicle networking market for passenger car segment commands the largest share and comprises hatchbacks, sport utility vehicle, sedans, vans, multi-utility vehicles, and sport utility vehicle. The immense demand for passenger cars across the globe demands for vehicle production, which elevates the market for automotive semiconductor. Also, augmenting vehicle production across the globe propels the market for energy efficient solutions like in-vehicle networking.
Regional Insights:
Geographically, the in-vehicle networking market spans across America, Europe, Asia Pacific, and the Middle East & Africa.
Considering the global scenario, the Asia Pacific is estimated to command the largest market share. The regional growth can be majorly accredited to the booming automotive sector in the region. In terms of vehicle production, the region has emerged as one of the major automotive hubs acquiring a maximum market share. The increasing Chinese automotive market is one of the key factors behind the market growth. Major country-level markets in the region apart from China comprise South Korea, Japan, and India.
North America is estimated to register tremendous growth potential in the estimated timeframe. The region will witness the highest growth rate as it is one of the most technologically advanced automotive sectors in the world. Also, the demand for high-end and luxurious cars with high semiconductor content is increasing at a rapid pace, mainly due to high living standard and rising per capita income. Moreover, government norms regarding safety and emissions are considered stringent, which further contributes to the growth of the market.
Industry Updates:
September 2019: Marvell has recently declared ultra-low latency automotive switches implemented with multi-gigabit routing throughput abilities. The portfolio consists of high-port count aggregation switch which provides ports at gigabit capacity. Therefore it allow clustering of safety critical sensor data in data transfer and an ADAS over high speed host uplink.
Continued…..
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