Thursday, 02 December 2021 11:20 GMT

Automotive Ethernet Market Insights by Emerging Trends, Growth and Forecast till 2024


(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Nov 25, 2021, 06:09 /Comserve / -- The automotive Ethernet market is projected to grow from USD 1.6 billion in 2019 to USD 4.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 21.7% from 2019 to 2024.

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment. 

The automotive Ethernet market is projected to grow from USD 1.6 billion in 2019 to USD 4.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 21.7% from 2019 to 2024. Major factors expected to drive the growth of the automotive Ethernet market include increasing demand for higher bandwidth, rise in deployment of ADAS and infotainment systems, rising vehicle production, and growing demand for passenger and safety and convenience. However, interoperability among components and application compatibility could pose challenges to the market growth.

Automotive Ethernet provides connectivity for various automotive applications such as powertrain, chassis, body and comfort, ADAS, and infotainment systems. It supports high bandwidth applications operating at high or low speed. Moreover, it also reduces cable and labor cost by simplifying the network complexities that includes configuration, management, and optimization aligned with in-vehicle networks. Increase in demand for ADAS and infotainment systems have propelled automotive Original Equipment Manufacturers (OEMs) to adopt Ethernet hardware components. Ethernet offers a range of benefits, including higher bandwidth, scalability, speed, and low latency.

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Infotainment and Human Machine Interface (HMI) sensor communicate with other domains within the vehicle. This requires higher bandwidth, secure connectivity, and low latency. Therefore, Ethernet adoption in vehicle for the infotainment system is growing exponentially over the last few years. Ethernet offers all the features and functionalities that help the infotainment system to function smoothly. Innovative and high-quality infotainment technologies enhance the driving experience as well as the attractiveness of a vehicle. The integration of personal mobile devices and web-based services can also enhance the vehicle's safety aspect. Automotive infotainment is one of the fastest-growing technologies in the market.

Among regions, Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
The market in APAC is projected to grow at the highest CAGR during the forecast period. APAC is expected to be the fastest growing market by volume for the automotive Ethernet technology. One of the key factors driving the growth of the market in APAC is the increased production of passenger cars. China, Japan, South Korea, and India are considered as manufacturing hubs for the automotive industry. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA) vehicle production data, China, Japan, India, and South Korea together produced more than 46 million vehicles in 2018. With an increase in the production of vehicles, the demand for in-vehicle networking component is expected to increase during the forecast period. This, in turn, is expected to drive the growth of the automotive Ethernet market in the region.

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The Final Report will cover the impact analysis of COVID-19 on this industry: Automotive Ethernet Market Insights by Emerging Trends, Growth and Forecast till 2024

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the automotive Ethernet market.

The breakup of the profiles of the primary participants is given below:
• By Company Type: Tier 1 – 10%, Tier 2 – 25%, and Tier 3 – 65%
• By Designation: C-Level – 25%, Director Level – 50%, Managers–25%
• By Region: North America – 40%, Europe – 30%, Asia Pacific – 20%, RoW—10

Research Coverage
The automotive Ethernet market is segmented by component (hardware, software, and services), bandwidth, application, vehicle type, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the automotive Ethernet market.

The report would help the market leaders/new entrants in the following ways:
• It comprehensively segments the automotive Ethernet market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
• It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities.
• It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes competitor ecosystem, new service developments, partnerships, and acquisitions.

TABLE OF CONTENTS

1 INTRODUCTION 17
1.1 OBJECTIVES OF THE STUDY 17
1.2 MARKET DEFINITION 17
1.3 MARKET SCOPE 18
1.3.1 MARKET SEGMENTATION 18
1.3.2 REGIONS COVERED 18
1.4 YEARS CONSIDERED FOR THE STUDY 19
1.5 CURRENCY CONSIDERED 19
1.6 STAKEHOLDERS 19

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