New York, USA, Oct. 15, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global automotive Ethernet market is expected to generated a revenue of $6,494.8 million at a CAGR of 20.8% during the forecast period (2020-2027), increasing from $1,920.9 million in 2019.
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The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Impact Analysis of COVID-19 on the Market
The coronavirus outbreak has impacted the global automotive ethernet market in a negative way. This is mainly because of the restrictions imposed upon the operations of the vehicle manufacturing industries across the globe. Because of the restrictions, the demand of automobile vehicles has been decreased during the pandemic. However, leading players are developing new strategies to help the market recover from the declining state in the post pandemic period.
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Dynamics of the Automotive Ethernet Market
Drivers: With the growing automobile industry, the demand of bandwidth, in-car networks, and flexibility has also increased. Innovative technologies such as automotive Ethernet has become essential component for automotive network architecture and automotive cybersecurity. Because of this factor, automotive Ethernet application is being extensively adopted by the end-users including leading automotive OEMs, cable& connector manufacturer, and automotive tier-1s. These factors are expected to enhance the market growth during the forecast period.
Restraint: Restrictions imposed upon manufacturing industries during the coronavirus outbreak is expected to restrain the growth of the automotive Ethernet market during the forecast period.
Key Segments of the Automotive Ethernet Market
The report has divided the market into different segments based on component, vehicle type, application, and regional analysis.
Component: Hardware Sub-Segment Expected to be the Most Lucrative
The hardware sub-segment is expected to register a revenue of $4,357.8 million during the forecast period. The primary benefits of the automotive Ethernet include speed, scalability, low latency, and higher bandwidth. The automotive OEMs are adopting Ethernet hardware components such as bridges routers, gateway, repeaters etc. in order to meet the demand for infotainment and ADAS. These factors are expected to boost the growth of the market segment.
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Vehicle Type: Commercial Vehicle Sub-Segment Predicted to be the Most Profitable
The commercial vehicle sub-segment is predicted to generate a revenue of $2,073.3 million by 2027, rising from $540.3 million in 2019. Rapid digitization and rising infrastructural investments is expected to be the main attributors behind the growth of the commercial vehicle segment of the global automotive Ethernet market during the analysis period.
Application: Driver Assistance Sub-Segment Expected to be the Most Beneficial
The driver assistance sub-segment is predicted to garner a revenue of $2,642.7 million by 2027, increasing from $734.1 million in 2019. The main attributor behind the growth of the market is the demand of safer and fuel-efficient vehicles.
Regional Outlook: Asia-Pacific Region Expected to Dominate the Market
The Asia-Pacific regional market garnered a revenue of $620.5 million in 2019 and is further forecasted to continue the growth with a revenue of $2,175.8 million by 2027. The main reason behind this growth is the rapid technological development and digitization of vehicle manufacturing industries in the region.
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Leading Market Players & Strategies
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
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
Recent development
In May 2018, Microchip Technology Incorporated, a leader in microcontroller, analog and flash-IP solutions, and mixed-signal provider announced about its completion of acquisition of Microsemi Corporation, semiconductor and system solutions providers. The acquisition is expected to strengthen the product portfolio of Microchip along with end-market diversification, customer scale, and operational capabilities.
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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