Automotive Communication Technology Market in APAC to reach USD 8 billion by 2024

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Automotive Communication Technology Market
Analysis Forecast To 2024
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Key Insights from Automotive Communication
Technology Market

• The economy car segment is growing at the fastest
  rate in the automotive communication technology
  market and is projected to grow at a CAGR of over
  16 over the forecast timeline. The major factors
  contributing to the market growth include the
  rising demand for vehicular safety from the
  economy class vehicle consumers and stringent
  government regulations for emission reduction.
  Hence, the economy car manufacturers are working
  with various automotive industry standards
  organizations to develop efficient networking
  solutions thereby meeting the stringent design
  constraints.
• The safety ADAS segment dominates the
  automotive communication technology market with a
  projected market revenue of over USD 8 billion by
  2024. The automotive systems have become more
  sophisticated as they include ADAS applications
  from collision avoidance, automatic emergency
  braking, and lane departure warning to autonomous
  driving, making the system bandwidth critical.
• The distributors segment is growing rapidly with
  a projected CAGR of over 17 over the forecast
  timespan. The communication technology providers
  mainly align with the distributors to provide its
  technology to automotive manufacturers worldwide.

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Continued
The MOST bus segment is growing at a steady rate
in the automotive communication technology with a
market revenue of over USD 1 billion in 2017. The
MOST bus is used to provide in-vehicle
infotainment and multimedia systems with precise
communication during the transmission of data,
audio, video, and control information. The MOST
bus offers data efficient communication
infrastructure for interconnecting infotainment
and multimedia devices such as GPS navigation,
radio, video display, and active speakers. The
latest version MOST150 offers a speed of around
150 Mbps, enabling its usage in various
automotive communication applications. The
automotive communication technology market growth
is attributed to the increasing demand for
automotive electronics. Over the last decade, the
total contribution toward automotive electronics
has increased from around 20 to 45.
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otive-communication-technology-market
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South Korea Automotive Communication Technology
Industry Revenue, By Application, 2017 2024
(USD Million)

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Major Companies in Automotive Communication
Technology Market

• ON Semiconductor,
• NXP Semiconductor,
• Microchip,
• Continental,
• Broadcom,
• Intel,
• Qualcomm,
• Renesas,
• Vector Informatik, Robert Bosch, Elmos
  Semiconductor

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Industry Coverage

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Regional Insights in Automotive Communication
Technology Market

• The Europe automotive communication technology
  market held over 26 of the market share in 2017.
  The growth in this region is attributed to the
  rising awareness regarding automotive safety
  among citizens and stringent government
  regulations. The region is also the home for
  leading automotive semiconductor providers such
  as Elmos Semiconductor, NXP Semiconductor,
  STMicroelectronics, and Vector Informatik, which
  contributes to the market growth in this region.
  Poland is one of the fastest growing countries in
  this region and is anticipated to be the second
  largest automotive hub in Europe after Germany.

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