The global automotive ethernet market is expected to see striking growth by 2031, due to the increasing demand for vehicles worldwide. The hardware sub-segment is expected to be productive. Regionally, the Asia-Pacific region is expected to be dominant.
NEW YORK, Feb. 28, 2023 /PRNewswire/ — Research Dive has added a new report to its offering titled, “Automotive Ethernet Market by Component (Hardware, Software, and Services), Vehicle Type (Passenger Cars and Commercial Vehicles), Application (Chassis, Infotainment, Driver Assistance, Powertrain, Body and Comfort, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2031”.
According to the report, the global automotive ethernet market is anticipated to garner a revenue of $8,765.8 million and grow at a CAGR of 14.4% over the analysis timeframe from 2022 to 2031.
Dynamics of the Automotive Ethernet Market
With the increasing vehicle demand all across the globe along with the rising adoption of advanced technologies in the automotive industry, the automotive ethernet market is expected to observe significant growth during the forecast timeframe. Moreover, the growing emphasis on the reduction of the carbon footprint as CO2 is one of the major contributors to global warming, is predicted to bolster the growth of the market throughout the estimated period. However, the increasing number of potential attackers may hamper the growth of the market over the analysis timeframe.
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Covid-19 Impact on the Automotive Ethernet Market
The outbreak of the Covid-19 pandemic has negatively impacted the automotive ethernet market. The strict regulations imposed by the governments of many nations have halted many daily activities all across the globe. Moreover, the spontaneous spread of the virus has refrained people from visiting dealership showrooms to buy vehicles. In addition, the economic crises during the pandemic have obstructed many international operations which have badly affected the market.
Segments of the Automotive Ethernet Market
The report has divided the market into segments based on component, application, vehicle type, and region.
By component, the hardware sub-segment is predicted to be the most productive and is expected to hold the largest share of the market during the analysis timeframe. The increasing demand for infotainment and advanced driver-assistance system (ADAS) is expected to fortify the growth of the market sub-segment over the estimated period.
By application, the driver assistance sub-segment is predicted to most profitable and is expected to have the fastest growth during the forecast period. The driver assistance applications include systems that can assist the driver while driving and can enhance safety for passengers and pedestrians including the driver which is expected to fuel the growth of the market sub-segment over the analysis period.
By vehicle type, the commercial vehicle sub-segment is expected to be lucrative and is predicted to have the highest growth during the estimated timeframe. The growing infrastructural investments and rising digitization are the major factors expected to augment the growth of the market throughout the forecast period.
By region, the Asia-Pacific region of the automotive ethernet market is predicted to hold the maximum share of the market during the analysis timeframe. The increasing technological innovations and stable socio-political conditions and the surging disposable income across the emerging countries of this region are expected to thrive the regional growth of the market over the forecast timeframe.
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Key Players of the Market
The major players of the automotive ethernet market include
Broadcom
Microchip Technology Inc.
Molex
Aukua Systems Inc.
Marvell
Keysight Technologies
NXP Semiconductors
Cadence Design Systems Inc
Vector Informatik GmbH
Texas Instruments Incorporated.
For instance, in November 2021, Elektrobit, an automotive software company launched the industry’s first automotive ethernet switch namely “EB zoneo SwitchCore”. This product is designed for high-performance, secured and high-bandwidth networks required for EVs, sophisticated ADAS, and self-driving vehicles.
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Further, the report also summarizes other crucial aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic development.
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