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Automotive Communication Protocol Market Size

Report ID: GMI11985
Published Date: Oct 2024
Report Format: PDF

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Automotive Communication Protocol Market Size

The global automotive communication protocol market size was valued at USD 1.6 billion in 2023 and is projected to grow at a CAGR of 7.4% between 2024 and 2032. The growth of V2X (Vehicle-to-Everything) communication demands protocols capable of managing external connectivity with infrastructure, vehicles, pedestrians, and networks. This includes integration with 5G networks, smart city infrastructure, and cloud services.

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Secure, standardized protocols are essential for enabling real-time traffic updates, remote diagnostics, over-the-air updates, and emergency services communication. For instance, according to GMI, The automotive vehicle-to-everything (V2X) market, valued at over USD 2.5 billion in 2022, is projected to grow at a 25% CAGR from 2023 to 2032. This growth is driven by the development of smart cities and Intelligent Transportation Systems (ITS).

Automotive Communication Protocol Market Report Attributes
Report Attribute	Details
Base Year:	2023
Automotive Communication Protocol Market Size in 2023:	USD 1.6 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	7.4%
2032 Value Projection:	USD 3 Billion
Historical Data for:	2021 - 2023
No. of Pages:	180
Tables, Charts & Figures:	200
Segments covered:	Protocol, Vehicle, Application
Growth Drivers:	Increasing shift toward vehicle electrification Growing V2X communication technology in the automotive industry Increasing demand for in-vehicle infotainment Stringent automotive safety regulations
Pitfalls & Challenges:	Protocol fragmentation and compatibility Bandwidth regulations

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The shift towards electric and hybrid vehicles necessitates advanced communication protocols to handle complex power systems, battery management, charging infrastructure, and energy optimization. These vehicles, equipped with numerous electronic control units (ECUs), require seamless communication to monitor battery health, power distribution, regenerative braking, and thermal management. The increasing complexity of these systems drives the demand for robust, high-speed protocols such as CAN FD and Automotive Ethernet.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive communication protocol reached USD 1.6 billion in 2023 and is set to grow at a 7.4% CAGR from 2024 to 2032, driven by the increasing demand for V2X communication technologies.

The CAN segment accounted for over 45% of the market share in 2023 and is expected to exceed USD 1.5 billion by 2032, led by standardization efforts in the automotive industry.

The passenger vehicles segment is projected to exceed USD 2 billion by 2032, driven by the growing adoption of electric vehicles (EVs) and the need for advanced communication protocols.

The China market accounted for over 35% of the revenue share in 2023, propelled by the rapid adoption of high-bandwidth Ethernet solutions and the push towards autonomous vehicle development.

Major players in the industry include Bosch, Broadcom, Continental, Denso, Infineon, Kvaser, NXP Semiconductors, Onsemi, Renesas, and Texas Instruments.