Selbyville, Delaware, Oct. 24, 2022 (GLOBE NEWSWIRE) --
The automotive data cables market is expected to record a valuation of USD 20 billion by 2032, according to a new research report by Global Market Insights Inc.
The prominent role of data connectivity for in-vehicle infotainment and V2V communication is anticipated to drive the industry trend. Notable efforts by vehicle manufacturers to ensure customer satisfaction by including better automobile components, such as telematics, are accelerating the demand for automotive data cables. For instance, in August 2022, Hino Trucks, a Japanese commercial vehicle manufacturer, collaborated with telematics specialist MiX Telematics to become an authorized Hino data services partner.
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Rising complexities in automotive electronic architecture are likely to emerge as a key factor hampering automotive data cables market growth. Mounting adoption of advanced technologies coupled with ADAS systems, comfort features, and electric components is leading to system complexities. This causes inefficiency in connecting diverse electric components & equipment through data cables. However, rigorous research on new cable technologies to improve vehicle functionality and decrease vehicle weight to provide fuel efficiency is foreseen to help manufacturers combat this issue.
Increasing significance of high-speed data transmission to amplify the demand for ethernet
The automotive data cables market from ethernet cable segment is poised to register more than 12.5% gains between 2023 and 2032. This segment is benefitting from the upsurge in bandwidth requirement, which is driving automotive OEMs to invest in high-speed data transmission to smoothen in-vehicle connectivity continually. For instance, in May 2022, Broadcom Inc., a provider of infrastructure software products, unveiled its high bandwidth monolithic automotive ethernet switch device, the BCM8958X, designed to address the growing bandwidth need for in-vehicle networking applications.
Integration of advanced technologies by manufacturers to boost passenger vehicles segment expansion
The report identifies that the utilization of automotive data cables in passenger vehicles is likely to showcase considerable growth through 2032. This growth is attributed to mounting customer inclination towards technologically advanced vehicles that offer multiple functions and enhance their driving experience. Backed by soaring emphasis of automotive companies on enhancing network connectivity, the passenger vehicles segment is set to amass substantial gains during the forecast period.
Growing focus on providing superior driving experience to push body & comfort application segment growth
The body control & comfort application segment in the automotive data cables market is estimated to observe steady progress at above 11.5% CAGR through 2032. Many companies are considering modern technologies to provide better and more comfortable driving experiences, propelling the demand for automotive data cables. Furthermore, the rising demand for effective data transmission to ensure uninterrupted communication between controls and motors is fostering the demand for data cables.
Supportive regulatory landscape to help North America emerge as a prominent region
North America automotive data cables market held over 15.5% of the revenue share in 2022. Increasing focus on improving vehicle connectivity in the region is projected to be a major factor stimulating product penetration. In addition, the favorable regulatory framework for self-driving vehicles has enabled companies to carry out tests on autonomous vehicles, which has positively impacted the business scenario. For instance, Canadian authorities are currently observing promising developments in the autonomous driving space in the U.S. markets to devise the best practices and a strong regulatory framework for self-driving cars.
Introduction of sophisticated technologies to remain a key growth strategy
Top players operating in the automotive data cables market are ACOME Group, Aptiv PLC, Belden Incorporated, Coficab group, Condumex S.A. de C.V, Coroplast, Amphelone Corporation, General Cable Technologies Corporation, Furukawa Electric Industries Ltd., Sampsistemi S.R.L, Sumitomo Electric Industries, Waytek, Inc., and Yazaki Corporation, among others. These leaders engage in extensive R&D plans and work on expanding their product offerings through various strategic acquisitions & partnerships in order to augment their consumer reach.
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Partial Table of Contents (ToC) of the report:
Chapter 3 Automotive Data Cables Market Insights
3.1 Introduction
3.2 Impact of COVID-19 outbreak
3.3 Impact analysis of Russia-Ukraine war
3.4 Automotive data cables industry ecosystem analysis
3.5 Technology & innovation landscape
3.6 Patent analysis
3.7 Investment portfolio
3.8 Industry news
3.9 Regulatory landscape
3.10 Industry impact forces
3.10.1 Growth drivers
3.10.1.1 Increasing contribution of electronic systems in passenger cars
3.10.1.2 Emergence of autonomous vehicles
3.10.1.3 Rise in sales of premium vehicles
3.10.1.4 Growing popularity of vehicle telematics
3.10.1.5 Increasing role of data connectivity for in-vehicle infotainment and V2V communication
3.10.2 Industry pitfalls & challenges
3.10.2.1 Increase in cybersecurity threats for connected vehicles
3.10.2.2 Rising complexities in automotive electronics architecture
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
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.
