Overview and Scope
Vehicle networking is the exchange of data and information between various electronic systems within a vehicle. This is used to improve the functionality, safety, and efficiency of vehicles by allowing different systems to communicate and share information.
Sizing and Forecast
The vehicle networking market size has grown strongly in recent years. It will grow from $1.08 billion in 2023 to $1.18 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to rising complexity of vehicle systems, rise of intelligent transportation systems (its), increased consumer demand for connectivity, 5g connectivity implementation, emergence of electric and hybrid vehicles.
The vehicle networking market size is expected to see strong growth in the next few years. It will grow to $1.61 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to 5g connectivity implementation, autonomous vehicle development, cybersecurity concerns, smart city integration, environmental sustainability initiatives.. Major trends in the forecast period include expansion of over-the-air (ota) updates, growing ecosystem of connected services, shift toward electrification and autonomous vehicles, emphasis on standardization and interoperability, integration of edge computing..
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Segmentation & Regional Insights
The vehicle networking market covered in this report is segmented –
1) By Connectivity Standard: Controller Area Network [CAN], Local Interconnect Network [LIN], Radio Frequency [RF], FlexRay, Ethernet, Media Oriented Systems Transport [MOST]
2) By Vehicle: Passenger Vehicles [PV], Light Commercial Vehicles [LCV], Heavy Commercial Vehicles [HCV], Automated Guided Vehicles [AGV]
3) By Application: Powertrain Safety, Body Electronics, Chassis, Infotainment, Other Applications
North America was the largest region in the vehicle networking market in 2023. The regions covered in the vehicle networking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in demand for autonomous vehicles is expected to propel the growth of the vehicle networking market going forward. Autonomous vehicles, also known as self-driving cars, or vehicles that can navigate and operate without the assistance of a human. Autonomous vehicles are gaining popularity in the vehicle networking market due to their ability to improve driver and passenger safety, efficiency, and convenience. For instance, in September 2022, according to Nissan Motor Co. Ltd., a Japan-based automotive manufacturer, 55% of small businesses believe that they are going to have a fully autonomous fleet in the next two decades. Therefore, the increase in demand for autonomous vehicles drives the vehicle networking market.
Key Industry Players
Major companies operating in the vehicle networking market are focusing on product developments and launches, such as automotive Ethernet switch firmware, to sustain their position in the market. Automotive Ethernet switch firmware refers to software that is designed to enable secure and high-performance communication within vehicles. For instance, in November 2021, Elektrobit, a Germany-based provider of embedded and connected software for cars, introduced the industry’s first automotive Ethernet switch firmware. This groundbreaking software enables secure and high-performance communication within vehicles. Named the EB Zoneo SwitchCore, it is for switches from major hardware vendors and is already deployed in electric vehicles currently in production. The SwitchCore makes it easier for car manufacturers and suppliers to create advanced communication systems for the next generation of vehicles, ensuring faster, more reliable connectivity in the evolving automotive landscape.
The vehicle networking market report table of contents includes:
1. Executive Summary
2. Vehicle Networking Market Characteristics
3. Vehicle Networking Market Trends And Strategies
4. Vehicle Networking Market – Macro Economic Scenario
5. Global Vehicle Networking Market Size and Growth
….
31. Global Vehicle Networking Market Competitive Benchmarking
32. Global Vehicle Networking Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Vehicle Networking Market
34. Vehicle Networking Market Future Outlook and Potential Analysis
35. Appendix
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