Automotive Data Cables Market Analysis

Automotive Data Cables Market Analysis

In terms of cable, the automotive data cables market from CAN-FD segment is slated to observe a growth rate of over 13% between 2023 and 2032. Consistent advancements in CAN-FD technology by market players owing to its data transmission abilities in lesser time are propelling segment growth.
 

In terms of vehicles, the commercial vehicles segment is anticipated to grow at around 14% gains through 2032. The segment is gaining positive attention as a result of the integration of advanced communication systems into vehicles by several truck manufacturers, which is boosting the uptake of automotive data cables. Furthermore, the growth of end-user industries is also escalating significant demand for commercial vehicles.
 

The powertrain application captured above 34% of the market share in 2022. The modern powertrain system is monitored and managed through an onboard computer network. Automotive OEMs are adopting advanced electronics devices & circuits with high-data requirements due to recent technology evolution. The snowballing demand for electric vehicles is further promoting new powertrain businesses.
 

Europe automotive data cables market is estimated to attain a CAGR of nearly 10% through 2032. The strong presence of prominent automotive players who are investing highly in R&D projects for autonomous mobility is impelling regional market expansion. To cite an instance, in March 2022, Horizon Europe granted USD 11.8 million to the research consortium ROADVIEW for solving challenging autonomous driving problems using AI.