Major factors expected to drive the growth of the Automotive Ethernet Market include low-cost Ethernet technology, rise in demand for Advanced Driver Assistance Systems (ADAS) and infotainment systems, and advancement in Ethernet technology.
Chicago, Feb. 20, 2023 (GLOBE NEWSWIRE) — The global Automotive Ethernet Market size is projected to grow from USD 1.8 billion in 2020 to USD 5.6 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 20.9% during the forecast period, according to a new report by MarketsandMarkets™.
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189 – Tables
90 – Figures
283 – Pages
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Scope of the Report:
|Revenue Forecast Size Value in 2026||US$ 5.6 billion|
|Market Size Value in 2020||US$ 1.8 billion|
|Growth Rate||20.9% CAGR|
|Market size available for years||2018–2026|
|Base year considered||2019|
|Key Market Opportunities||Emergence of connected cars|
|Market Growth Drivers||Prevalence of electric vehicles|
|Market Segmentation||Component (hardware, software, and services), type, bandwidth, application, vehicle type,|
|Geographies covered||North America, Europe, APAC, MEA, and Latin America|
|Companies covered||Broadcom (US),NXP Semiconductors N.V. (Netherlands), Marvell (Bermuda),Microchip Technology Inc. (US), Vector Informatik GmbH (Germany), System-on-Chip Engineering S.L. (Spain), Molex, LLC (US), Texas Instruments (US), Cadence Design Systems, Inc. (US), TTTech Auto AG (Austria), Excelfore (US), DASAN Networks, Inc. (South Korea), ACTIA Group (France), NEXCOM International Co., Ltd. (Taiwan), AllGo Embedded Systems Pvt. Ltd. (India), Spirent Communications (UK), Keysight Technologies (US), Aukua Systems Inc (US), Intrepid Control Systems (US), RUETZ SYSTEM SOLUTIONS GMBH (Germany), TSN Systems GmbH (Germany), Xena Networks (Denmark), TEKTRONIX, INC (US), Rohde & Schwarz (Germany), and Realtek Semiconductor Corp. (Taiwan).|
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Over the last few years, automotive Original Equipment Manufacturers (OEMs) and car manufacturers are leveraging Ethernet technology for in-vehicle connectivity. Ethernet has proven to be the best solution for in-vehicle connectivity owing to higher bandwidth and low latency. Moreover, it also minimizes the cost of cabling, which in turn lessens the labor cost. In the upcoming years, the dominance of Ethernet technology is expected to increase as compared to traditional in-vehicle technologies. The automotive sector is developing new technologies such as connected cars, autonomous cars, and ADAS; they will also require next-generation communication technologies in the car networking infrastructure to support those systems. The Automotive Ethernet Market is projected to grow with the increased number of vehicles produced, increased demand for advanced infotainment systems, and driver assistance systems, among others.
Based on components, the services segment is expected to grow at the highest rate during the forecast period. With the increasing adoption of automotive Ethernet solutions, the adoption of associated services is also expected to increase among automotive OEMs. Based on services, the market has been segmented into consulting, implementation, and training and support. These services help end-users in managing and optimizing in-vehicle network infrastructure.
In the vehicle type segment, the commercial vehicle segment is one of the prominent segments in terms of growth in the Automotive Ethernet Market. The commercial segment has shown a positive outlook in terms of adopting advanced technologies in vehicles. Commercial auto manufacturers have planned to invest in the Internet of Things (IoT) and smart mobility solutions, which would drive the need for higher bandwidth. As a result, there will be an increase in demand for Ethernet technology in the commercial segment.
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Europe is expected to grow at the highest CAGR during the forecast period. The world’s top automotive OEMs, such as Volkswagen, BMW, and Daimler Group have a presence in Europe. German OEMs manufacture around 70% of worldwide premium cars. The region’s vibrant Research and Development (R&D) landscape and technological excellence with over 100 automotive electronics-related study programs every year justify the region’s dominance in the field of connectivity, vehicle electronics, and self-driving cars. Increasing privatization, reducing trade barriers, and the availability of low-cost raw materials are some of the key factors supporting the growth of the Automotive Ethernet Market in the region.
Key and emerging players in Automotive Ethernet Market include Broadcom (US), NXP Semiconductors N.V. (Netherlands), Marvell (Bermuda), Microchip Technology Inc. (US), Vector Informatik GmbH (Germany), System-on-Chip Engineering S.L. (Spain), Molex, LLC (US), Texas Instruments (US), Cadence Design Systems, Inc. (US), TTTech Auto AG (Austria), Excelfore (US), DASAN Networks, Inc. (South Korea), ACTIA Group (France), NEXCOM International Co., Ltd. (Taiwan), AllGo Embedded Systems Pvt. Ltd. (India), Spirent Communications (UK), Keysight Technologies (US), Aukua Systems Inc (US), Intrepid Control Systems (US), RUETZ SYSTEM SOLUTIONS GMBH (Germany), TSN Systems GmbH (Germany), Xena Networks (Denmark), TEKTRONIX, INC (US), Rohde & Schwarz (Germany), and Realtek Semiconductor Corp. (Taiwan).
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