Automotive Ethernet Market Trends, Demand Growth Revenue Analysis Report
The global Automotive ethernet market size is projected to grow from USD 2.2 billion in 2023 to USD 5.5 billion by 2028, at a CAGR of 19.7%. The increasing demand for faster in-vehicle networking is expected to increase the demand for automotive ethernet. Additionally, continuous innovation in connected car features will boost the demand for automotive ethernet.
Network segment is expected to have largest share in the global automotive ethernet market
The network segment is expected to hold the largest share of the automotive ethernet market during the forecast period. The network section of automotive ethernet is undergoing tremendous growth, exceeding other areas, as the vehicle landscape evolves toward smart features, connectivity, and autonomous driving. The necessity for high-bandwidth connection for infotainment and ADAS, the cost-effectiveness and scalability of ethernet compared to older CAN bus systems, and its role in enabling crucial technologies like V2X communication are all driving this boom. Automotive ethernet product and solution providers are working closely with automakers to develop and provide efficient solutions. For instance, NXP Semiconductors announced in July 2023 that it will be working together with Mahindra and Mahindra, Ltd. (India) over connected vehicles. Automotive ethernet, with its improved data processing capabilities and futureproof architecture, serves as the foundation for next-generation cars, assuring safer, more efficient, and more sophisticated transportation experiences.
Key Players
The automotive ethernet market is dominated by global players such as Broadcom (US), Marvell (US), Microchip Technology Inc. (US), NXP Semiconductors (Netherlands), and Texas Instruments Incorporated (US), among others. These companies adopted new product development strategies, expansion, partnerships & collaborations, and mergers & acquisitions to gain traction in the market.
Information Source @ https://www.marketsandmarkets.....com/Market-Reports/a
