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Automotive Communication Technology Market Trends

Report ID: GMI3008
Published Date: Jun 2023
Report Format: PDF

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Automotive Communication Technology Market Trends

One prominent trend in the automotive communication technology market is the adoption of vehicle-to-everything (V2X) communication. V2X technology enables vehicles to communicate with other vehicles (V2V), infrastructure (V2I), pedestrians (V2P), and networks (V2N). This trend facilitates advanced safety features, such as collision warnings and cooperative adaptive cruise control, which helps in improving road safety and reducing accidents. Furthermore, V2X communication enables efficient traffic management, optimized routing, and enhanced connectivity, thereby contributing to smoother traffic flow & improved overall driving experience. The rising integration of V2X communication is transforming the automotive industry, propelling the adoption of smarter, safer, and more connected vehicles.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of automotive communication technology reached USD 18 billion in 2022 and is anticipated to register over 15% CAGR during 2023 to 2032 due to the surging demand for connected vehicles with advanced features and emphasis on vehicle safety & ADAS

The safety & ADAS application segment held 15.5% of the industry share in 2022 owing to the surging need for real-time communication between vehicle components, sensors, and control units to enhance road safety

Asia Pacific industry is expected to witness around 17.5% growth rate from 2032-2032 driven by the booming automotive industry, rapid urbanization, and the rising consumer demand for connected vehicles.

Some of the main automotive communication technology industry players include Robert Bosch, Broadcom Inc, Continental AG, Intel Corporation, NXP Semiconductor, Toshiba Corporation, STMicroelectronics, Denso Corporation, Aptiv PLC, and Harman International Industries, Inc.