Large-scale use of ethernet technology in automotive vehicles such as passenger cars and commercial automotive to boost the growth of the global automotive ethernet market.
PORTLAND, Ore., Oct. 6, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Automotive Ethernet Market by Component (Hardware, Software, and Services), by Application (Chassis, Infotainment, Powertrain, Driver Assistance, Body and Comfort, and Others), by Vehicle Type (Passenger Cars, Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2021-2031.” As per the report, the global automotive Ethernet industry was estimated at $2.1 billion in 2021, and is set to reach $8.8 billion by 2031, growing at a CAGR of 14.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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Drivers, restraints, and opportunities
Large-scale use of ethernet technology in automotive vehicles such as passenger cars and commercial automotive to boost the growth of the global automotive ethernet market. In addition, breakthroughs in autonomous vehicle technology and low costs of ethernet can boost global market trends. The massive use of advanced driver assistant systems and infotainment is projected to create new growth opportunities for the global market. However, a surge in cyber security assaults on ethernet is one of the factors that can pose a threat to the expansion of the global market.
Covid-19 scenario:
- The COVID-19 pandemic adversely impacted the growth of the global automotive ethernet market due to a lack of supply of raw materials for automotive production and less availability of workforce and its mobility due to lockdown leading to low vehicle production.
- A large number of automotive ethernet manufacturers halted their operations in areas having low availability of workers during the COVID-19 period, thereby hampering the global market growth.
The hardware segment to dominate the global market in terms of revenue in 2031
Based on the component, the purchasing and inventory management segment is set to contribute to the highest market share in 2021, accounting for around two-thirds of the global automotive ethernet market share. Furthermore, the segment is projected to contribute majorly toward the global market share during the forecast period. The growth of the segment over the forecast timeframe can be attributed to a massive increase in the demand for infotainment and advanced driver-assistance systems resulting in massive use of Ethernet hardware components namely gateway, bridges routers, repeaters, and others by automotive original equipment manufacturers for producing vehicles. However, services segment is slated to register the fastest CAGR of about 15.8% over the next ten years. The growth of the segment over the forecast timeline can be credited to the high rate throughput of services including training & support, implementation, and consulting.
The driver assistance segment to hold the major market share over 2022-2031
On basis of application, the driver assistance segment contributed to the highest market share in 2021, accounting for nearly two-fifths of the global automotive ethernet market share. Furthermore, the same segment is anticipated to dominate the market growth over the forecast period. In addition, the driver assistance segment is predicted to record the highest CAGR of 15.3% over the forecast period. The growth of the segment over the forecast timeline can be attributed to a rapid shift in the consumer preference toward safe & fuel-efficient vehicles. The report also includes other segments such as Chassis, Infotainment, Powertrain, Body and Comfort, and Others segment.
The passenger cars segment to dominate the global market by 2031
In terms of vehicle type, the passenger cars segment contributed to the highest market share in 2021, accounting for more than two-thirds of the global automotive ethernet market share. Moreover, the same segment is set to make notable contributions toward the global market share in 2031. The growth of the segment over the forecast timeline can be credited to the improvement in economic conditions, technological advancements in passenger cars, and a rise in consumer disposable income. However, the commercial vehicles segment is predicted to register the fastest CAGR of 16.0% during the forecast timeline. The segmental growth over the forecast timeframe can be attributed to the digitization and a rise in investments for developing strong automotive infrastructure globally.
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Asia-Pacific to retain global market domination over 2022-2031
By Region, Asia-Pacific contributed notably toward the global automotive ethernet market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for around one-third of the global automotive ethernet market share in 2021. In addition, the Asia-Pacific automotive ethernet market is set to record the highest CAGR of 14.9% during 2022-2031. The growth of the market in the region over the forecast timespan can be credited to technological innovations, stable socio-political conditions, and significant economic growth in the region leading to huge vehicle production. The report also includes other regions such as LAMEA, North America, and Europe.
Major market players
- Vector Informatik GmbH
- NXP Semiconductors N. V.
- Marvell Semiconductor, Inc.
- Molex LLC
- Broadcom Inc.
- Microchip Technology Inc.
- Aukua Systems, Inc.
- Keysight Technologies
- Cadence Design Systems, Inc.
- Texas Instruments Incorporated
The report analyzes these key players in the global automotive ethernet market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.
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