Dublin, Sept. 11, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Communication Module Market (2024 Edition): Analysis By Communication Type (Vehicle-to-Everything, Cellular, Wi-Fi, Ultra-Wideband, and Other Communication Types), By Application, By Vehicle Type, By Region, By Country: Market Insights and Forecast (2020-2030)" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Communication Module market showcased growth at a CAGR of 10.78% during 2020-2023. The market was valued at USD 12.76 Billion in 2023 which is expected to reach USD 29.57 Billion in 2030.
The report provides a complete analysis for the historical period of 2020-2023, the estimates of 2024 and the forecast period of 2025-2030
The global automotive communication module market is experiencing robust growth, fueled by a convergence of technological advancements, consumer demand for enhanced vehicle connectivity, and supportive regulatory frameworks. This market is essential for modern vehicles, encompassing a wide range of communication technologies that enable real-time data exchange, connectivity, and integration of various vehicle systems. The market's operation and growth are driven by several critical factors.
One of the primary drivers of the market is the rapid pace of technological innovation. The integration of advanced communication technologies such as Vehicle-to-Everything (V2X), 5G connectivity, Wi-Fi, and Ultra-Wideband (UWB) is revolutionizing the automotive industry. These technologies enable seamless communication between vehicles (V2V), vehicles and infrastructure (V2I), and vehicles and pedestrians (V2P), enhancing safety, efficiency, and driving experience.
The deployment of 5G technology is particularly transformative, offering low latency, high-speed data transfer, and the capacity to handle a vast number of connected devices simultaneously. This advancement supports the development of autonomous vehicles and advanced driver assistance systems (ADAS), which rely heavily on real-time data communication.
Additionally, consumer expectations for connectivity and infotainment features in vehicles are higher than ever. Modern consumers demand seamless integration of their digital lives with their vehicles, including features like internet access, streaming services, navigation, and real-time traffic updates. This demand drives automakers to incorporate sophisticated communication modules into their vehicles, ensuring they can offer a connected and enhanced user experience. Infotainment systems, telematics, and in-car communication technologies are becoming standard in new vehicle models, further propelling market growth.
Moreover, governments and regulatory bodies worldwide are implementing stringent safety standards and regulations that mandate the inclusion of advanced communication systems in vehicles. For instance, the European Union and the United States have introduced regulations that require the integration of V2X communication systems to improve road safety and reduce traffic accidents. These regulations push automakers to adopt and implement advanced communication technologies, thereby driving the market. Additionally, government initiatives promoting smart transportation and smart cities are creating a conducive environment for the growth of automotive communication modules.
Furthermore, the rise of electric vehicles (EVs) and autonomous vehicles (AVs) is another significant factor driving the market. EVs require advanced communication modules for efficient energy management, smart charging, and connectivity with charging infrastructure. Autonomous vehicles, which depend on real-time data exchange for navigation, obstacle detection, and decision-making, are heavily reliant on sophisticated communication systems. The growing investment in and adoption of EVs and AVs are thus accelerating the demand for automotive communication modules.
Additionally, the market is characterized by strategic partnerships and collaborations among automakers, technology companies, and communication module providers. These collaborations are essential for developing and deploying cutting-edge communication technologies. For example, partnerships between automotive giants and tech companies facilitate the integration of advanced communication systems into vehicles, ensuring they meet the latest technological and regulatory standards. These alliances also enable companies to share expertise, reduce costs, and accelerate innovation.
Scope of the Report
- The report analyses the Automotive Communication Module Market by Value ( USD Billion).
- The report analyses the Automotive Communication Module Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, Germany, France, United Kingdom, Italy, China, Japan, India, and South Korea).
- The report presents the analysis of Automotive Communication Module Market for the historical period of 2020-2023, the estimated year 2024 and the forecast period of 2025-2030.
- The report analyses the Automotive Communication Module Market By Communication Type (Vehicle-to-Everything, Cellular, Wi-Fi, Ultra-Wideband, and Other Communication Types).
- The report analyses the Automotive Communication Module Market By Application (Telematics, Infotainment Systems, Advanced Driver Assistance Systems(ADAS), and Other Application).
- The report analyses the Automotive Communication Module Market By Vehicle Type (Passenger Vehicle and Commercial Vehicle).
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Communication Type, By Application & By Vehicle Type.
- Also, the major opportunities, trends, drivers, and challenges of the industry has been analyzed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development.
Analyst Recommendations
- Invest in Research and Development
- Focus on Cybersecurity
Competitive Positioning
- Companies' Product Positioning
- Market Position Matrix
- Market Share Analysis of Automotive Communication Module Market
Company Profiles
- Continental AG
- DENSO Corporation
- Valeo S.A.
- Aptiv PLC
- Robert Bosch GMBH
- Infineon Technologies AG
- STMicroelectronics NV
- Mitsubishi Electric Corporation
- Texas Instruments Incorporated
- Renesas Electronics Corp.
For more information about this report visit https://www.researchandmarkets.com/r/jsmokh
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