New York, USA, July 27, 2021 (GLOBE NEWSWIRE) -- A recently published report by Research Dive states that the global automotive Ethernet market is set to witness a significant rise in revenue from $1,920.9 million in 2019 to over $6,494.8 million by 2027 at a stable CAGR of 20.8% in the forecast period 2020-2027.
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Market Analysis
The implementation of application and automation into the automobile sector has led to a rise in need for various features such as in flexibility, better network facilities in cars as well as advanced bandwidth. Due to these needs, multiple organizations have been working on implementing advanced forms of technology such as the Ethernet. It has been working on the development of automotive network as well as automotive cybersecurity which has been a one of the primary reasons for the growth of the global market.
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On the contrary, prevalent cyber security attacks are one of the dominant factors that have been a hindrance in the growth of the market. However, most of the on-road vehicles are known to emit CO2 which has been affecting the environment severely over the years. As stated by the U.S Environmental Protection Agency in 2019, over 29% of the greenhouse gases detected in the region were due to the transport sector. Hence, by utilizing a two low power variant of the automobile Ethernet, it could cut down the emission rate. These developments are expected to provide lucrative growth opportunity for the global market.
COVID-19 Impact on the Global Automotive Ethernet Market
The companies operating in the global market were facing several challenges due to shortcomings in international operations. To add further, the unstable political situations also contributed to the market being adversely impacted during the pandemic.
Segmental Analysis
The market is segregated into multiple segments based on components, application, vehicle type, and region.
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Hardware Component Sub-segment to Propel the Growth of the Market
By component, the hardware component sub-segment is expected to garner revenue of $4,357.8 million in the analysis period. Most consumers today have been demanding infotainment systems as well as advanced driver-assistance systems (ADAS) in their vehicles, which has led to the implementation of Ethernet hardware such as repeaters, bridges routers, and more to be fitted into automobiles. This factor is leading to the growth of the sub-segment.
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Driver Assistance Sub-segment to Dominate the Market
By application, the driver assistance sub-segment is expected to gain revenue of $2,642.7 million by 2027, rising from $734.1 million in 2019. This growth is due to the customers’ demands that ask for safer yet fuel efficient automobiles. To add further, there has also been an increase in requirement for vehicles to be fitted with advanced technological devices that can help in enhancing the driving experience. These factors have contributed to the rapid growth of the sub-segment.
Passenger Cars Sub-segment to Gain Highest Market Share
By vehicle type, passenger cars are set to garner significant revenue of $4,423.3 million in the analysis period. This rise of the sub-segment is primarily due to passenger cars having more advanced features in them along with a boost in economic condition and disposable income of consumers across the globe.
Regional Analysis
The Asia-Pacific region is predicted to experience a significant rise in revenue from $620.5 million in 2019 to over $2,175.8 million by 2027. The several economic changes over the years along with a variety of technological remodelling have changed the face of the market over the years. To add further, the Asia-Pacific region, especially countries such as Malaysia, China, and India have also been experiencing a rise in the sales of automobiles. These factors have added to the growth of the region in the forecast period.
Key Market Players
The report contains a list of notable market players who have been ensuring the constant growth of the market. They are as listed below:
1. Vector Informatik GmbH
2. Marvell Semiconductor Inc
3. Broadcom Inc
4. Aukua Systems
5. Cadence Design Systems, Inc
6. NXP Semiconductors N.V
7. Molex
8. Microchip Technology, Inc
9. Keysight Technologies
10. Texas Instruments Incorporated
In February 2021, Microchip Technology, a pioneer in the field of embedded control solutions launched a new piece of hardware known as the ‘LAN9360.’ This device which is a single chip Ethernet controller is one of the first audio endpoint solutions. This chips acts as a universal connector which helps a majority of the infotainment devices such as speakers, navigation systems in an automobile to work better.
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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