Automotive Ethernet Market to be Aided by the Rising Demand for Automobiles Between 2022 and 2027
Global Automotive Ethernet Market To Be Driven By The Increasing Global Demand For Automobiles In The Forecast Period Of 2022-2027
30 NORTH GOULD STREET, WYOMING, UNITED STATES, September 8, 2022 /EINPresswire.com/ — The new report by Expert Market Research titled, ‘Global Automotive Ethernet Market Size, Share, Demand, Analysis, Report and Forecast 2022-2027’, gives an in-depth analysis of the global automotive ethernet market, assessing the market based on its segments such as components, bandwidths, vehicle types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2020): USD 1.23 Billion
• Forecast CAGR (2022-2027): 22.9%
Automotive ethernet is created expressly to fulfil the needs of the automotive sector, allowing for speedier data transmission. With the rising need for advanced driver assistance systems (ADAS) and entertainment in passenger cars, the automotive ethernet market is expected to rise fast over the projected period. Moreover, the automotive ethernet market is predicted to develop due to increased acceptance of low-cost ethernet technology by automakers and advancements in the area.
The increase in production can be attributed to a reduced cost and continuous miniaturisation of hardware components, which is helping the market increase. Also, the growing adoption of Internet of Things (IoT) solutions in automotive is providing growth opportunities to a wide range of highly connected modern ADAS and autonomous driving functions.
Industry Definition and Major Segments
Automotive ethernet connects numerous automotive applications such as ADAS, infotainment, powertrain, and chassis. It allows for high bandwidth operating at fast speeds. It also saves money on manpower and cables by simplifying and optimising in-vehicle networks.
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The several components of the market are:
Based on bandwidth, the market is divided into:
The several types of vehicles are:
• Passenger Cars
• Commercial Vehicles
• Farming and Off-Highway Vehicles
The significant applications of the market are:
• Advanced Driver Assistance Systems
• Body and Comfort
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The increase in demand for personal vehicles across the globe has affected the air quality drastically in the world. The carbon emission by vehicles is severely affecting the environment. Therefore, governments across the globe are promoting green transportation and providing subsidies for the purchase of electric vehicles. Hence, the rise in demand for electric vehicles is expected to drive the growth of the automotive ethernet switches market.
Technology advancements, government policies, growth in the consumer economy, and OEM’s investments are the key drivers propelling the EV production. The global demand for automotive ethernet is also growing due to the increasing disposable income. The growing demand for higher bandwidth and infotainment systems is adding to the growth of the market.
Key Market Players
The major players in the market are Broadcom Inc., NXP Semiconductors N.V., Marvell Technology, Inc., Microchip Technology Inc., Molex, LLC, Texas Instruments Incorporated, Cadence Design Systems, Inc., and Vector Informatik GmbH, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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