Global Automotive Communication Technology Market Report from 2021-2031: Market Segment by Bus Module (Controller Area Network (CAN), Local Interconnect Network (LIN), Media-Oriented Systems Transport (MOST), FlexRay, and Ethernet), Market Segment by Application (Powertrain, Infotainment & Communication, Body Control & Comfort, and Safety & ADAS ) Market Segment by Vehicle Class(Luxury, Mid-Size, and Economy), Plus analysis of leading regional/national markets and leading companies in the market. COVID-19 Impact Recovery Analysis (V-shaped recovery, W-shaped recovery, U-shaped recovery, L-shaped recovery)
Global Automotive Communication Technology Market Outlook
According to Visiongain analysis, the global automotive communication technology market was valued at US$7.63 billion in 2020. The global market is expected to reach US$17.27 billion in 2026 from its previous value of US$8.70 billion in 2021. Visiongain further anticipates that the worldwide automotive communication technology market will reach US$36.37billion in 2031.
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Key Questions Answered by this Report:
What is the current size of the overall global automotive communication technology market? How much will this market be worth from 2021 to 2031?
What are the main drivers and restraints that will shape the overall automotive communication technology market over the next ten years?
What are the main segments within the overall automotive communication technology market?
How much will each of these segments be worth for the period 2021 to 2031?
How will the composition of the market change during that time, and why?
What factors will affect that industry and market over the next ten years?
What are the largest national markets for the world automotive communication technology market?
What is their current status and how will they develop over the next ten years?
What are their revenue potentials to 2031?
How will market shares of the leading national markets change by 2031, and which geographical region will lead the market in 2031?
Who are the leading companies and what are their activities, results, developments and prospects?
What are some of the most prominent automotive communication technologies currently in development?
What are the main trends that will affect the world automotive communication technology market between 2021 and 2031?
What are the main strengths, weaknesses, opportunities, and threats for the market?
What are the social, technological, economic, and political influences that will shape that industry over the next ten years?
How will the global automotive communication technology market evolve over the forecasted period, 2021 to 2031?
What will be the main commercial drivers for the market from 2021 to 2031?
How will market shares of prominent national markets change from 2021, and which countries will lead the market in 2031, achieving highest revenues and fastest growth?
How will that industry evolve between 2021 and 2031, especially in R&D?
Domestic Safety Mandates to Fuel Automotive Communication Technology Market Growth Through 2031
The rising frequency of road accidents and fatalities because of human error across the world is another major concern that has pushed the world towards smart mobility and autonomous driving trend. In order to control the same, governments of various regions such as Europe, the USA, Japan, and many others have forced automotive manufacturers to incorporate new and advanced safety features in their upcoming vehicles. For instance, the United Nations World Forum for Harmonization of Vehicle Regulations has set few safety standards for motor vehicles that around 40 countries meet all the priority standards for safety. Within standards, UN has mandated the integration of antilock braking system and other safety technologies such as Geo Positioning System (GPS), radars, and sensors to prevent collision between vehicles. This initiative anticipated to flourish the market growth for automotive communication technology in the forthcoming years.
COVID-19 Impact Analysis on Automotive Communication Technology Market
The global automotive communication technology market exhibit prominent growth of 15.38% during the forecast period. However, the sudden outbreak of COVID-19 has disrupted several industries’ pace; automotive sector is one among them. Lockdown situation in various regions have impacted the sale of automobiles negatively across the world. In addition, the fact that the majority of the population was staying at home, as well as social distancing has hit the rising trend for shared mobility.
With the start of COVID-19 spread in China, the Asia Pacific was the first region to be impacted. Gradually, with the spread of COVID-19 across the world, the automotive industry faces sharp drop in both investment and demand. The industry also struggles with an abrupt and widespread stoppage of economic activity and supply chain.
New vehicle sales in China have been plummeted by around 92% in the first half of February 2020 and further predicted that the total vehicle sales will fall by a rate of 2.9% in China in the year 2020. Consequently, other countries have also witnessed prominent decline in the automotive sales, negatively influencing the global economy, which in turn impacted the global automotive communication technology market sales and growth during the pandemic time. However, the market expected to recover faster compared to other industries during the coming years.
Discover sales predictions for the global automotive communication technology market and submarkets.
Along with revenue prediction for the overall world market, there are 3 segmentations of the automotive communication technology market, with forecasts for 5Bus Modules, 4Applications, 3Vehicle Classes, each forecasted at a global, regional, and country level, along with COVID-19 impact recovery pattern analysis for all segments.
Who are the leading players analyzed in the market?
Infineon Technologies AG
Renesas Electronics Corporation
Microchip Technology Inc
Vector Informatik GmbH
Elmos Semiconductor SE
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