Research Nester Analytics LLC assesses the growth of the global In-Vehicle Networking Chipset market which is primarily attributed to the increasing automotive consumption, rising demand for automated vehicles, and the growing adoption of electric vehicles.
Research Nester’s recent market research analysis on “In-Vehicle Networking Chipset Market: Global Demand Analysis & Opportunity Outlook 2037” delivers a detailed competitor’s analysis and a detailed overview of the global In-Vehicle Networking Chipset market in terms of market segmentation by automotive ethernet type, vehicle type, and by region.
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Increasing Demand for Smart Vehicles to Drive Growth of Global In-Vehicle Networking Chipset Market
The global In-Vehicle Networking Chipset market is estimated to grow majorly on account of the increasing demand for smart vehicles with improvement of the customer experience, a top priority of businesses. Smart vehicles rely on various electronic components and systems to enable advanced features such as advanced driver assistance systems (ADAS), infotainment systems, and connected services. In order to enable seamless communication and data exchange between these systems, high-speed and reliable networking technologies such as ethernet are required.
The global automotive industry's strategic development now includes smart cars. Many countries have enacted industrial policies, guidelines, and regulations to improve support for the development of smart automobile technologies, such as autonomous driving and related industries. Autonomous vehicles and connected cars are other terms for smart cars. Smart cars mainly operate on connected systems and hence need higher bandwidth for infotainment systems. According to Worldwide Connected Vehicle Shipments Forecast, worldwide shipments of connected vehicles are expected to expand at a CAGR of 16.8% over the next five years. The smart car market is expected to enter a solid growth phase when annual global exports of smart cars reach approximately USD 76.2 million by 2024. In addition to enabling advanced features, In-Vehicle Networking Chipsets can also help reduce the complexity and cost of vehicle wiring and cabling, making them more attractive to manufacturers.
Some of the major growth factors and challenges that are associated with the growth of the global In-Vehicle Networking Chipset market are:
Growth Drivers:
· Emergence of Ethernet-based infotainment systems
· Rising Demand for ADAS
Challenges:
Developing an In-Vehicle Networking Chipset requires expertise in both automotive and ethernet technologies, which can be a challenge for many manufacturers. In addition, manufacturers lack the tools to design ethernet systems that are able to withstand the harsh automotive environment, which is also one of the major factors restraining the global In-Vehicle Networking Chipset market growth.
By automotive ethernet type, the global In-Vehicle Networking Chipset is divided into one pair ethernet, energy efficient ethernet, power over ethernet, and gigabit ethernet. The one-pair ethernet segment is expected to garner the highest automotive ethernet type revenue of USD 6.7 billion by the end of 2037 while the gigabit ethernet segment is expected to grow at the fastest CAGR of 23.5 % over the forecast period. The growth of the one-pair ethernet is expected to rise owing to the growing integration of ADAS systems in a vehicle which is further boosted by a higher prevalence of 5G connectivity.
By region, the Europe In-Vehicle Networking Chipset market is expected to grow at a CAGR of 20.5% over the forecast period and reach a market value of USD 3.06 billion by the end of 2037. Europe is highly implementing BroadR-Reach or IEEE 802.3bw standard in their latest vehicles. E.g., Germany mandated the implementation of IEEE-verified and OPEN-certified Ethernet cables in the cars manufactured in 2020. Carmakers are highly adopting sensors and HMI technology in Europe to ease consumer prospects. On the other hand, Asia-Pacific is the largest consumer of vehicles owing to the rapidly growing economy of developing countries such as India and Indonesia and the growing demand for electronic vehicles in economies such as China and South Korea.
This report also provides the existing competitive scenario of some of the key players of the global In-Vehicle Networking Chipset market which includes company profiling of Microchip Technology, Inc., Broadcom Limited, Vector Informatik GmbH, RUETZ SYSTEM SOLUTIONS GMBH, DASAN Network Solutions, Bosch Rexroth, B&R Automation, TSN Systems GmbH, TE Connectivity, Marvell, Toshiba, Texas Instruments Incorporated, and others.
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