New York, Dec. 07, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "Automotive Transceivers Market Size, Share, Demand, Growth Strategy, Industry Trends and Forecast to 2028 – by Protocol (CAN, LIN, FLEXRAY, and Others), Application (Safety, Body Control Module, Chassis, Powertrain, Steering Wheel, Engine, and Door/Seat), Vehicle Type (Passenger Vehicles and Commercial Vehicles), and Geography," the global automotive transceivers market size is expected to grow from USD 6.34 billion in 2022 to USD 9.38 billion by 2028; it is estimated to grow at a CAGR of 6.8% from 2022 to 2028.
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Global Automotive Transceivers Market Report Scope, Segmentations, Regional & Country Scope:
| Market Size Value in | USD 6.34 Billion in 2022 |
| Market Size Value by | USD 9.38 Billion by 2028 |
| Growth rate | CAGR of 6.8% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 179 |
| No. of Tables | 83 |
| No. of Charts & Figures | 86 |
| Historical data available | Yes |
| Segments covered | Protocol, Application, and Vehicle Type |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trendsfactors, and trends |
| Companies Covered | Broadcom, Infineon Technologies AG, Renesas Electronics Corporation, Maxim Integrated, Microchip Technology Inc., NXP Semiconductors, Robert Bosch GmbH, STMicroelectronics, Texas Instruments Incorporated, Toshiba Corporation |
| Key Research Capabilities | Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development |
| Global Automotive Transceivers Market Forecast to 2028 - Latest COVID-19 Analysis | https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00007773/ |
Global Automotive Transceivers Market: Competitive Landscape and Key Developments
Broadcom; Infineon Technologies; NXP; Toshiba; and Texas Instruments are the five key players operating in the global automotive transceivers market. Several other major market players were analyzed to get a holistic view of the automotive transceivers market and its ecosystem. The automotive transceivers market report provides detailed insights, which will help the key players strategize the growth in the coming years.
November 2022: to deliver critical process synchronization, Microchip Technology Inc. announced the LAN8840 and LAN8841 Gigabit Ethernet transceiver devices that meet IEEE 1588v2 standards for Precision Timing Protocol.
September 2022: NXP Semiconductors released its 2nd generation RFCMOS radar transceiver family to production. It is optimized for fast chirp modulation.
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Based on geography, the global automotive transceivers market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. Asia Pacific held the largest automotive transceivers market share in 2021, followed by Europe and North America. APAC is anticipated to grow at the highest CAGR during the forecast period. In Asia Pacific, the rapidly growing economy and the increasing disposable income of middle-class consumers are majorly responsible for a surge in demand for vehicles. Automotive transceivers are deployed in the vehicles for in-vehicle connectivity and communication to enhance the safety and comfort of the passenger. In addition, the growth prospects in sales of vehicles are anticipated to propel the usage of automotive transceivers.
As per the International Organization of Motor Vehicle Manufacturers, the sales of new registered vehicles increased from 41.28 million units in 2020 to 43.70 million units in 2021, registering a growth rate of 6%. Thus, such rising sales of vehicles are increasing the demand for automotive transceivers, which is fueling the market growth. Also, factors such as increasing market penetration of premium cars and safety installations in the vehicle are boosting the demand for automotive night vision systems and driver monitoring systems, which is further creating the requirement for transceivers for exchanging signals at a faster rate.
In 2022, the European Commission mandated the advanced safety systems in vehicles to protect passengers, pedestrians, and cyclists. The initiative was undertaken with the aim of reducing the number of fatalities and injuries on roads, as 90% of such incidents occur due to human error. For example, cars, vans, trucks, and buses must be equipped with advanced safety systems such as warning of driver drowsiness, intelligent speed assistance, reversing safety with a camera or sensors, and data recorders in case of an accident. Thus, such favorable government policies for protection against fatal accidents are increasing the adoption of ADAS and V2X communication, which is creating more demand for in-vehicle communication modules that support the market growth.
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Global Automotive Transceivers Market: Protocol Overview
Based on protocol, the automotive transceivers market is segmented into CAN, LIN, FLEXRAY, and others. The local interconnect network (LIN) is a low-cost embedded networking standard for connecting smart devices. It is a serial network protocol defined by ISO 9141 used for communication between components in the automotive industry. It is a single-wire, serial network protocol that supports communications up to 19.2 Kbit/s at a bus length of 40m. It has lower bandwidth and node count limitations, making it preferable to control small electric motors and controls. LIN protocol is not a replacement for the CAN bus; however, it is a good alternative wherever low costs are essential, and speed/bandwidth and versatility are not crucial. In automotive applications, it is typically used within subsystems that are not critical to vehicle performance or safety, such as body electronics, chassis, doors, windows, lights, and seats.
Impact OF COVID-19 Pandemic on Global Automotive Transceivers Market Growth:
In the MEA, the COVID-19 pandemic significantly impacted the countries such as Turkey, Iran, Iraq, Israel, Saudi Arabia, and the UAE. The shutdown of manufacturing plants, social distancing norms, and reduced consumer spending on transportation led to a decline in the sales of cars in 2020. Car sales in the Middle East & Africa experienced a 70-80% drop during the pandemic's peak from March to May 2020, when most showrooms were forced to shut down. The shortage of semiconductors and chips majorly disrupted the supply chain of automotive vehicles in the Middle East & Africa as this region primarily imports electronic components from other countries. Hence, major automakers were forced to shut down production. Moreover, travel restrictions across borders heavily impacted the growth of the MEA automotive transceivers market during the pandemic. However, the rise in initiatives from key players for introducing advanced electric vehicles is likely to drive the demand for automotive transceivers in the coming years. For instance, in May 2022, Volkswagen introduced its first electric SUV in Qatar. Saudi Arabia aims to achieve ~30% of its cars to be electric powered by 2030. In February 2022, Lucid, an EV manufacturer, announced a long-term plan to build the first international manufacturing plant in Saudi Arabia, targeting 150,000 vehicles per year to cater to the demand. Thus, such growth prospects in the production of EVs are anticipated to hold potential demand for the use of transceivers in electric vehicles during the pandemic recovery period.
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