The report predicts the global Automotive Ethernet Market to grow with a CAGR of 6.67% over the forecast period from 2022-2031.
According to Research Dive analysis, the global automotive ethernet market is estimated to generate a revenue of $6,494.8 million by 2031, increasing from $1,920.9 million in 2022, at a healthy CAGR of 20.8%.
Impact Analysis of COVID-19 on the Global Automotive ethernet Market:
Developed as well as developing nations across the world are facing an unprecedented global medical, economic, and social emergency with the COVID-19 global spread. The economic activity has completely fallen due to the drop in shortage of workforce, people’s avoidance to social life, and massive shutdowns. Contrary to this, several market players like, Keysight Technologies, a leading test and measurement equipment provider, are coming up with strategic collaborations along with novel technology innovations in order to sustain in the pandemic. For instance, in April 2020, Keysight Technologies, announced the expansion of its integrated automotive ethernet software portfolio in order to help automotive industry engineers and manufacturers to develop high-performance and high-quality products. These products mainly enhance a safe driving experience and enable advanced driver assistance systems (ADAS). These technological developments may lead to favorable conditions in the global automotive ethernet market, post COVID-19 pandemic.
Automotive ethernet Market Analysis:
Automotive ethernet majorly provides multiple automotive applications, including ADAS (Advanced driver-assistance systems), body and comfort, chassis, powertrain, and infotainment systems. Also, ethernet mainly enables auto-manufacturers to decrease cabling weight by 30% and application expenses of vehicles by 80%. In addition to this, strict implementations of government regulations regarding automotive sector are also one crucial factors for the global automotive ethernet market growth. For example, in March 2019, the European Commission, the branch of the European Union (EU), responsible for managing the day-to-day business of the EU, approved a rule to mandate safety features like ‘Intelligent Speed Assistance’ for all new production of light vehicles, by 2022. Such factors may drive the global automotive ethernet market, during the analysis period.
The rising incidents of cyber-attacks combined with declared industrial lockdowns due to COVID-19 pandemic, are some of the factors obstructing the global automotive ethernet market growth.
The extensively growing adoption of advanced driver-assistance systems (ADAS) in the auto-industry may further create market opportunities for the automotive ethernet market worldwide. ADAS solutions have notably minimized the complexity of driving, with features like lane monitoring, stability controls, and emergency braking, and many others. Furthermore, Broadcom Inc., a global infrastructure technology leader, also officially launched automotive Ethernet for vision-based ADAS, in October 2018. Such company initiatives may further create attractive opportunities for the investors in global automotive ethernet market.
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Based on component, the global market for automotive ethernet platform is divided into software, hardware, and services.
The hardware sub-segment shall have the fastest market growth and it is expected to register a revenue of $4,357.8 million by 2031.
Based on application, the market is classified into infotainment, chassis, body and comfort, power train, driver assistance, and others.
The driver assistance sub-segment garnered $734.1 million in 2022 and is projected to grow exponentially by 2031.
Based on the sales vehicle type, the market is segmented into passenger cars and commercial vehicles.
The commercial vehicle sub-segment is predicted to be growing significantly and is expected to cross $2073.3 million by 2031.
Based on geographical scope, the market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
The Asia-Pacific automotive ethernet market is anticipated to rise at a growth rate of 21.4% by 2031 from the revenue generated in 2022.
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The companies involved in the global automotive ethernet market are Vector Informatik GmbH, NXP Semiconductors N.V., Marvell Semiconductor, Inc., Molex, Broadcom Inc., Microchip Technology Inc., Aukua Systems, Keysight Technologies, Cadence Design Systems, Inc, and Texas Instruments Incorporated.
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