Selbyville, Delaware, Feb. 09, 2021 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on the automotive data cables market which estimates the market valuation for automotive data cables will cross US$ 9 billion by 2027. The growing innovations in in-vehicle infotainment systems and integration of safety systems are anticipated to contribute significantly to the market growth.
The growing demand for uninterrupted data transmission and integration between automotive components, such as chipsets, telematics, devices, etc., are expected to support the automotive data cables market growth. The automotive data cables are witnessing significant demand from automotive OEMs for component integrations to support Car-to-X communication. The companies are also using data cables supporting bandwidth speeds to integrate sensors and safety systems including cameras, LiDAR & radar. The extensive developments of advanced driving systems are further spurring the demand for automotive data cables.
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The increasing innovations in in-vehicle infotainment and V2V communication systems along with reliable data connectivity requirements are anticipated to support the market growth. The expansive integrations of advanced sensors, safety and assistance systems into vehicle computer are resulting in demand for high-speed data cables. The public and private initiatives to develop autonomous vehicles and C-V2X infrastructure will further fuel the demand for automotive data cables.
The Controller Area Network (CAN) cable segment is anticipated to grow significantly in the automotive data cables market from 2021 to 2027. The CAN cables are primarily used for in-vehicle electronic networking. The vehicle manufacturers use these cables to enable seamless communication between devices and microcontrollers by eliminating the need for host computer. The increasing penetration of connected electronic devices through point-to-point wiring systems is enabling the demand for CAN cables.
The passenger vehicle segment is anticipated to dominate the global automotive data cables market by 2027. The growth is attributed to the growing deployment of advanced in-vehicle infotainment systems. For instance, in September 2019, Denso Corporation, an automotive equipment manufacturer, partnered with Blackberry Limited for the development of advanced Human Machine Interface (HMI) digital cockpit system. The growing emphasis on advanced in-vehicle experience is anticipated to contribute to the segment growth in the global market.
The demand for automotive data cables for safety & ADAS application in the automotive industry is expected to grow exponentially over the forecast timeline. With rising road accidents and fatalities, automotive companies are integrating advanced safety and ADAS systems into their vehicle offerings. These systems need high-speed data transmission medium to ensure rapid response from vehicle systems. The use of robust data cables can enable these enterprises to ensure efficient working of these systems.
North America is expected to hold above 30% share of the automotive data cables market by 2027. The growth is attributed to expansive innovations & deployments in C-V2X technologies and penetration of electric vehicles. For instance, in September 2020, the Virginia Department of Transportation along with Qualcomm Technologies Inc. and Audi America deployed C-V2X communication infrastructure in Virginia, U.S. Similarly, regional enterprises, such as Microsoft Corporation and Tesla Inc., are emphasizing on ADAS systems & autonomous vehicles fueling the market growth.
The companies operating in the market are focusing on strengthening their market presence through global expansion strategies. For instance, in January 2018, ACOME Groupe established its new automotive cable manufacturing facility in Morocco. Through this establishment, the company achieved 25% of the total cable production in the EMEA automotive industry. This also helped the company to serve regional automotive OEMs with required cabling components. Similarly, other enterprises operating in the market are expected to focus on new product developments and innovations.
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Some major findings of the automotive data cables market report include:
- The increasing innovations & integrations in in-vehicle infrastructure followed by the need for rapid data connectivity are supporting technology development in the market.
- North America is expected to grow exponentially in the global automotive data cables market due to expansive developments in C-V2X infrastructure.
- Major players operating in the automotive data cables market are ACOME Group, Belden Incorporated, Condumex S.A. de C.V, General Cable Technologies Corporation, HUBER+SUHNER AG, etc.
- Companies operating in the market are focusing on strategic partnerships and acquisitions to strengthen their market presence & position.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Automotive data cables industry 360⁰ synopsis, 2016 – 2027
2.2 Business trends
2.3 Regional trends
2.4 Cable type trends
2.5 Vehicle type trends
2.6 Application trends
Chapter 3 Automotive Data Cables Industry Insights
3.1 Introduction
3.2 Industry segmentation
3.3 Impact of COVID-19 outbreak
3.3.1 By region
3.3.1.1 North America
3.3.1.2 Europe
3.3.1.3 Asia Pacific
3.3.1.4 Latin America
3.3.1.5 Middle East & Africa
3.3.2 Industry value chain
3.3.2.1 Automotive data cables providers
3.3.2.2 Marketing & distribution channels
3.3.3 Competitive landscape
3.3.3.1 Strategy
3.3.3.2 Distribution network
3.3.3.3 Business growth
3.4 Coaxial cable developments in Europe
3.5 Automotive data cables industry ecosystem analysis
3.6 Technology & innovation landscape
3.6.1 Intensified networking and miniaturization
3.6.2 C-V2X
3.7 Regulatory landscape
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 Increasing contribution of electronic systems in passenger cars
3.8.1.2 Emergence of autonomous vehicles
3.8.1.3 Rise in sales of premium vehicles
3.8.1.4 Growing popularity of vehicle telematics
3.8.1.5 Increasing role of data connectivity for in-vehicle infotainment and V2V communication
3.8.2 Industry pitfalls & challenges
3.8.2.1 Increase in cybersecurity threats for connected vehicles
3.8.2.2 Rising complexities in automotive electronics architecture
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
About Global Market Insights
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.