In-Vehicle Networks Market to Grow at a CAGR of 11.2% during Forecast Year 2018-2026 | Reports and Data

In-Vehicle Networks Market

In-Vehicle Networks Market

Reports and Data

Reports and Data

The In-Vehicle networks market was valued at USD 1.3 billion in 2018 and is expected to grow at a CAGR of 11.2% CAGR

NEW YORK CITY, NEW YORK, UNITED STATES, March 24, 2020 / — The In-Vehicle networks market was valued at USD 1.3 billion in 2018 and is expected to grow at a CAGR of 11.2% CAGR during the forecast period (from 2018-2026). The major drivers of the growths are – rising complexities in the in-vehicle infrastructure owing to the next-gen automotive applications and advancement of the technology. Modern vehicles are using high numbers of the domain control unit, multi-domain controllers, sensors, networks module, Electronic Control Units (ECUs), actuators, connectivity modules, and cables that led to complexities inside the vehicle. Automotive OEMs are adopting advanced technologies to sustain stability in the vehicle infrastructure and minimize network workload. Also, factors like increasing demand for vehicle tracking and driver safety, connected vehicles, shared mobility, mobility-on-demand, mobility-as-a-service, driverless vehicles are expected to fuel the growth of the in-vehicle networks market.
The evolution in wireless and mobile communication technology enables drivers and passengers in vehicles to use and access the internet while driving or seating in a vehicle. Built-in equipment in vehicles or trucks can easily access dynamic information related to traveling, such as weather forecasts, the current situation on the roads, or information on local points of interest. Further, personal information of the vehicle’s passengers – which could also be very useful for their travel – is usually distributed over various devices, such as PDAs, PTAs, cellular phones, or laptops.
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The global in-vehicle networks market will create ample opportunities for vehicles to connect with humans, sensors owing to the rising demand and adoption of telematics and infotainment. However, in order to do so, next-generation vehicles would require a global vehicular ID, also known as GID. The ID opens a communication gateway to identify a vehicle and interact with it seamlessly. It works similar to an IP address on a computer. One of the primary concern driving the internet of vehicle market is traffic management and reduction in road accidents. As GIDs are expected to improve secure communication for vehicles, it is expected to register major growth during the forecast period (2019 – 2026).
Salient Trends of the Market
• GID is a vehicle communication gateway and is connected with the global universal network connectivity. It is an in-vehicle sensor used for providing global positioning, online identification of the automobile, and the name of the vehicle owner. It works as a virtual license plate of the car
• Brain-to-Vehicle (B2V) technology uses an instrument to imperceptibly monitor brain wave activity, which is scrutinized by the vehicle’s autonomous practices and used to predict and anticipate vehicle driver behavioral patterns.
o B2V technology requires the use of a headset dotted with electrodes that either press immediately via internet against a driver’s scalp or come as close as possible
• Rising use of sensor technology due to advancement in DMS, ADAS, HMI solution increases the demand for high-speed internet inside a car
o Innovative sensors monitor and regulate a vehicle’s operation and provide the foundation for autonomous driving by sharing important data in demanding applications like engines, transmission, and brake systems
o Sensors such as camera, radar, LiDAR, and ultrasonic are significantly impacting overall safety of the vehicle, security, and maintenance costs
• Companies are heavily investing in 5G technologies, which will enable the streamlined function of connected cars, autonomous cars. It will have a direct impact on the in-vehicle networks
o In February 2020, Nokia announced operator partner SoftBank completed tests using the vendor’s latest 5G equipment, which the Finnish company stated demonstrated non-standalone (NSA) technology can be used commercially in vehicles
• In January 2020, Volvo joins forces with China Unicom to develop 5G for its cars
• In March 2019, Broadcom (an American designer, developer, manufacturer and global supplier of a broad range of semiconductor and infrastructure software products) launched a family of automotive multilayer Ethernet switches – BCM8956X
o These switches are launched to address the increasing need for bandwidth, security, and Time-Sensitive Networking (TSN). Further, it will help automotive OEMs, and Tier1 suppliers advance into Gigabit Ethernet Systems
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Companies Considered and Profiled
Continental, Aptiv, Valeo, Robert Bosch, Texas Instruments, NXP Semiconductors, AT&T, Cisco, Broadcom, Marvell and others
Segments Covered in the Report
In-Vehicle Networks Market by Connectivity Type (Revenue, USD Million; 2016–2026)
• Wired
• Wireless
In-Vehicle Networks Market by Connectivity Systems Type (Revenue, USD Million; 2016–2026)
• FlexRay
• RF
• Ethernet
In-Vehicle Networks Market by Component (Revenue, USD Million; 2016–2026)
• Hardware
• Software
• Service
o Consulting
o Implementation
o Training & Support
In-Vehicle Networks Market By Application (Revenue, USD Million; 2016–2026)
• Powertrain
• Body Control
• Infotainment
• Telematics
• Others
In-Vehicle Networks Market by System (Revenue, USD Million; 2016–2026)
• Wi-Fi
• Bluetooth
• Cellular
• Others
In-Vehicle Networks Market By Vehicle Type (Revenue, USD Million; 2016–2026)
• Passenger Vehicles
• Commercial Vehicles
In-Vehicle Networks Market by Region (Revenue, USD Million; 2016–2026)
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

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Source: EIN Presswire