Automotive Gateway Market Revenue, Major Players, Consumer Trends, Analysis & Forecast Till 2027 – IndustryARC
Passenger Vehicle dominated the Automotive Gateway Market with a value share of approximately 78% in 2021
HYDERABAD, TELANGANA, INDIA, October 27, 2022 /EINPresswire.com/ — The global Automotive Gateway Market is estimated to grow at a CAGR of 4.49% during the forecast period 2022-2027 and reach $2,212 million by 2027, from around $1,684.4 million in 2021. The significant growth of the autonomous vehicles alongside the implementation of gateways for vehicle to vehicle and vehicle to grid communications is set be a boosting factor for the market during forecast period 2022-2027. As stated by Omron, Level3 autonomous and connected cars by 2020, Level4 will be achieved goal by 2025. In 2021, GM announced an increase in its budget for electric and automated vehicles from $20 billion to $27 billion and plans to launch 30 new EVs globally in the next five years. GM announced that it will launch 5G-enabled cars in China followed by the US region in 2022. Furthermore, collaborations with telecom operators are helping automakers deploy cars with embedded connectivity faster than before, this is set to boost the market growth rate during forecast period 2022-2027. An automotive gateway is a central hub that securely and reliably interconnects and transfers data across the many different networks such as ethernet switches in vehicles. It provides physical isolation and protocol translation to route signals between functional domains that share data.
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1. Pricing can vary significantly dependent on the number of protocols integrated, sensor adaptation, V2V/V2G capabilities, network communication features such as 4G/5G etc.
2. The basic modules for instance can be available in the range of $40-$100 while the more advanced versions used in BMW, Mercedes-Benz vehicles cost around $250-$400.
3. Because federal legislation and policy are in flux, ADAS car rules in the United States may differ from state to state. The SELF DRIVE Act, which was introduced in 2017 but has yet to be enacted into law, would prohibit states from enacting rules governing partially and completely automated vehicles, as well as provide manufacturers with universal standards.
4. No specific ADAS technology has been legislated or controlled by the Federal Motor Vehicle Safety Standards (FMVSS). As a result, while creating new ADAS technology at lower levels of automation (e.g., SAE Levels 1 and 2), manufacturers and developers are not bound by current FMVSS.
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Automotive Gateway Market Segment Analysis – By Application: Passenger Vehicle dominated the Automotive Gateway Market with a value share of approximately 78% in 2021, The Passenger vehicle term refers to the vehicles manufactured with at most four wheels embodying close to eight seats including the driver’s seat and for serving individual, family and business purposes. Passenger vehicles are manufactured in various classes such as economy, standard, luxury, premium and SUV. The increase in passenger vehicle shipments and high on road vehicles density has spawned up the need of safety measures in the automobiles. China, as the world’s largest manufacturer and consumer of electric passenger vehicles, is likely to hold a commanding position during the forecast period. The government has taken a variety of initiatives to encourage the adoption of electric vehicles, including EV buyer subsidies, the development of electric vehicle charging stations, and rules requiring automakers to produce electric vehicles based on the number of vehicles produced.
Automotive Gateway Market Segment Analysis – By End User: According to United States Department of Transportation “vehicle-to-vehicle” communication is the ability to wirelessly exchange information about the speed and position of surrounding vehicles in order to avoid crashes, ease traffic congestion and improve the environment. Moreover, this technology allows vehicles to broadcast and receive omni-directional messages (up to 10 times per second), creating a 360-degree awareness of other vehicles in proximity. In addition, this technology employ visual, tactile and audible alerts or a combination of these threats to warn drivers to take action in order to avoid crashes. Apart from this, the growing number of lives lost due to road accidents and the wide deployment of “vehicle-to-vehicle “technology in the automotive industry is set to drive its market growth. For instance, according to United States Department of Transportation there were an estimated 6.8 million police-reported crashes in 2019, resulting in 36,096 fatalities and an estimated 2.7 million people injured. Connected vehicle technologies will provide drivers with the tools they need to anticipate potential crashes and significantly reduce the number of lives lost each year. Vehicle-To-Vehicle segment of Automotive Gateway Market generated a revenue of $100.8m in 2020 and is projected to reach a revenue of $174.7m by 2027 growing at a CAGR of 10.52% during 2022-2027.
Automotive Gateway Market Segment Analysis – By Geography: APAC dominated the Automotive Gateway Market with a value share of approximately 49% in 2021, Asia-Pacific region incorporates chief economies of the Asian region, namely China, India, Japan and Australia. Minister of Road Transport and Highways of India is planning to make ADAS a mandatory feature in upcoming cars. The ministry aims to implement the plan on all new vehicles by early 2022. As stated by European Union, From 2022, all new cars in the European Union must be equipped with various assistance systems such as Intelligent speed assistance and so on. In September 2019, Amazon has announced to invest $440M Rivian, an electric automaker to put 100,000 electric delivery vehicles on the road by 2030. In November 2020, General Motors announced an increase in investment in the electric vehicles to $27 billion through 2025. The major aim of this investment is to increase the manufacturing capacity of BEV.
The top 5 players in the Automotive Gateway industry are –
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