SEATTLE, April 28, 2020 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global next generation in-vehicle networking (IVN) market was valued at US$ 992.1 million in 2017 and is projected to exhibit a CAGR of 8.4% over the forecast period (2019–2027).
Key Trends and Analysis:
The global next generation in-vehicle networking (IVN) market is expected to grow significantly during the forecast period, owing to rapid advancements in connectivity standards such as CAN, LIN, and Ethernet. Communication bus such as Ethernet connects all the electronic components of vehicles through a common platform, which decreases the complexity of communication system.
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Point to point connections make the communication system bulky, which can be avoided in Ethernet communication bus. Ethernet uses single wire to send multiple signals to multiple components, which makes the communication system compact. Many high-end automakers are already using the Ethernet Communication platform in their cars such as BMW, Jaguar, and Volkswagen. Due to rapid enhancements in Ethernet communication platform, other automakers are also expected to use it in the near future.
Moreover, increasing demand for safety and security sensors in automobile is also expected to drive growth of the next generation in-vehicle networking (IVN) market over the forecast period. For instance, the global automotive sensors market accounted for US$ 23.4 billion in 2017 and is expected to exhibit a CAGR of the 14.3% over the forecast period. The sensors that are used for safety and security purposes in automobiles are electronic. Point-to-Point connections to these sensors is very difficult and complex. Hence, the need for in-vehicle networking is increasing with rising demand for vehicle sensors. Moreover, as the number of road accidents across the globe are increasing day by day, people prefer vehicles with safety and security sensors.
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Key Market Takeaways:
- The global next generation in-vehicle networking (IVN) market is projected to witness CAGR of 8.2 % during the forecast period, owing to increasing demand for vehicles across the globe
- Asia Pacific held dominant position in the global next generation in-vehicle networking (IVN) market in 2017 and is expected to retain its dominance throughout the forecast period. This is owing to increasing demand for passenger car infotainment system. For instance, according to Coherent Market Insights’ analysis, the Asia Pacific passenger cars market accounted for US$ 5.3 billion in 2017 and is expected to exhibit a CAGR of 13.45% during the forecast period.
- North America is expected to show significant growth during the forecast period, owing to countries such as the U.S. which has highest GDP in the world. For instance, according to Internationals Monetary Fund, the GDP of the U.S. accounted for US$ 18.3 trillion in 2017 and is expected to hold the dominant position during the forecast period.
- Among vehicle type, the passenger car segment held dominant position in the market in 2017 and is expected to retain its dominance during the forecast period. For instance, according to Coherent Market Insights’ analysis, the global passenger cars market accounted for US$ 36.8 billion in 2017 and is expected to exhibit a CAGR of 10.2% over the forecast period.
- Among application, safety segment is expected to be the fastest growing segment during the forecast period. This is owing to increasing demand for safety and security sensors across the globe.
Major players operating in the global next generation in-vehicle networking (IVN) market include—
Acome, Aricent Inc, Agilent Technologies, AISIN AW Co Ltd, Analog Devices, Broadcom, Bosch, Daimler AG, Freescale, Harman, NXP, Renault SA, Renesas, Visteon, Wurth Elektronik, Yazaki Corporation, and others
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Market Segmentation:
- Global Next Generation In-vehicle Networking (IVN) Market, By Vehicle Type:
- Passenger Car
- LCV
- HCV
- AGV
- Global Next Generation In-vehicle Networking (IVN) Market, By Connectivity Standards:
- CAN
- LIN
- FlexRay
- RF
- Ethernet
- MOST
- Global Next Generation In-vehicle Networking (IVN) Market, By Application:
- Powertrain
- Safety
- Body Electronics
- Chassis
- Infotainment
- Global Next Generation In-vehicle Networking (IVN) Market, By Geography
- North America
-
- U.S.
- Canada
-
- Europe
-
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
-
- Asia Pacific
-
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
-
- Latin America
-
- Brazil
- Mexico
- Argentina
- Rest of Latin America
-
- Middle East and Africa
-
- GCC Countries
- Israel
- Rest of Middle East
- North Africa
- Central Africa
- South Africa
-
- North America