Wilmington, Delaware, July 03, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Automotive Gateway Market by Type (CAN, LIN, FlexRay, and Gigabit Ethernet), Application (Passenger Vehicles and Commercial Vehicles), Technology (Vehicle-to-grid and Vehicle-to-vehicle): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the "automotive gateway market" was valued at $4.6 billion in 2022, and is estimated to reach $8.4 billion by 2032, growing at a CAGR of 6% from 2023 to 2032.
Prime determinants of growth
The increase in adoption of Advanced Driver Assistance Systems (ADAS) drives growth of the automotive gateway market. ADAS includes a range of technologies designed to enhance vehicle safety and improve driving comfort by providing automated assistance to the driver. This trend has gained momentum due to a rise in focus on improving road safety, reducing accidents, and advancing toward autonomous driving capabilities. However, technological complexities bring challenges for market growth. Moreover, the growth of the connected car market in the U.S. is propelled by increase in vehicle safety and security norms, alongside the demand for vehicle-to-vehicle (V2V) connectivity technology. As consumers become more reliant on technology in their daily lives, the expectation for seamless connectivity extends to their vehicles, driving the automotive industry toward a future where connectivity is a fundamental aspect of vehicle design and functionality.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size In 2022 | $4.6 Billion |
| Market Size In 2032 | $8.4 Billion |
| CAGR | 6.0% |
| No. Of Pages In Report | 300 |
| Segments Covered | Type, Application, Technology, And Region. |
| Driver | The Increase In Adoption Of Advanced Driver Assistance Systems |
| Opportunity | Surge In Demand For Connected Vehicles |
| Restraint | Technological Complexities |
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The CAN segment to maintain its leadership status throughout the forecast period
By type, the CAN segment held the highest market share in 2022, accounting for more than half of the global market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the air & sea transport segment is projected to manifest the highest CAGR of 12.1% from 2023 to 2032.
The commercial vehicle segment to maintain its lead position throughout the forecast period
By application, the commercial vehicles segment held the highest market share in 2022, accounting for more than four-fifths of the global automotive gateway market revenue and is estimated to maintain its leadership status throughout the forecast period. Moreover, it is the fastest-growing segment and is projected to manifest the highest CAGR of 6.2% from 2023 to 2032.
The vehicle-to-vehicle segment to maintain its lead position throughout the forecast period
Based on technology, the vehicle-to-vehicle segment held the highest market share in 2022, accounting for more than four-fifths of the global automotive gateway market revenue and is estimated to maintain its leadership status throughout the forecast period. Furthermore, it is the fastest-growing segment and is projected to manifest the highest CAGR of 6.1% from 2023 to 2032.
Asia-Pacific to maintain its dominance by 2032
Asia-Pacific held the highest market share in 2022, accounting for more than half of the global market revenue, and is estimated to maintain its leadership status throughout the forecast period. In addition, the Asia-Pacific region is projected to manifest the highest CAGR of 6.5% from 2023 to 2032.
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Leading Market Players:
- UPFIELD B.V.
- KITE HILL
- MIYOKO’S CREAMERY
- TOFUTTI BRANDS, INC.
- TREELINE TREENUT CHEESE COMPANY, LLC.
- VTOPIAN ARTISAN CHEESES, LLC
- SAPUTO INC.
- PARMELA CREAMERY
- GOOD PLANET FOODS INC.
- NUTS FOR CHEESE
- ABOVE FOOD INC.
- TYNE CHEASE LIMITED
- BEL SA
- DANONE S.A.
- MAPLE LEAF FOODS, INC.
The report provides a detailed analysis of these key players in the global automotive gateway market. These players have adopted different strategies such as new product launches, business expansion, partnerships, mergers, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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