New York, USA, May 11, 2021 (GLOBE NEWSWIRE) -- A new report on the global automotive Ethernet market has been added by Research Dive to its repository. As per the report, the market is estimated to garner $6,4920.8 million by 2027, growing at a CAGR of 20.8% from 2020 to 2027. This report offers thorough insights into the present condition and future viewpoint of the global industry. The report is drafted by professional market analysts and promises to be a reliable source of data and comprehensive market insights for new players, investors, prevailing market players, stakeholders, shareholders, etc.
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Factors Impacting the Market Growth:
Growing adoption of Ethernet technology by a majority of automotive manufacturers is boosting the growth of the global automotive Ethernet market. Furthermore, rising awareness about the impact of greenhouse gas emissions on the environment and increasing focus on the reduction of carbon footprint is anticipated to give rise to profitable opportunities for the market growth during the forecast period. However, high cost involved in the installation of automotive Ethernets is expected to hinder the market growth.
Check out How COVID-19 impacts the Global Automotive Ethernet Market. Click here to Connect with our Analyst to get more Market Insight: https://www.researchdive.com/connect-to-analyst/5425
COVID-19 Pandemic Impact on the Market:
The abrupt rise of the COVID-19 pandemic has made a negative impact on the growth of the global automotive Ethernet industry. The rise of pandemic led to the lockdown of automotive industries and stoppage of import and export activities which has further resulted in disruption in the manufacturing of vehicles and their supply chains in various regions. However, foremost automotive Ethernet companies came up with numerous strategies such as new product development and research & innovations to beat the pandemic impact on their revenues. For instance, in February 2021, Tektronix, a measurement system specialist, launched the TekExpress, a multi-gigabit automotive Ethernet compliance test solution.
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The report segments the global automotive Ethernet market into components, application, vehicle type, and region.
Hardware Component Sub-Segment to Dominate the Market Growth
Among component segment, the hardware sub-segment is projected to dominate the market by garnering $4,357.8 million during the forecast period. The growth of this sub-segment is mainly because of the growing advancements in hardware automotive Ethernet components by leading players such as NXP Semiconductors.
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Driver Assistance Application Sub-Segment to Undergo Speedy Growth
Among application segment, the driver assistance sub-segment is expected to observe accelerated growth and garner $2,642.7 million during the forecast period. The growth of this sub-segment is mostly due to growing preference of people for Ethernet technology in vehicles along with a strong demand for safe & fuel-efficient vehicles.
Commercial Vehicle Sub-Segment to Grab Highest Market Share
Among vehicle type segment, the commercial vehicle sub-segment is anticipated to witness speedy growth and garner $2,073.3 million during the forecast period. The growth of this sub-segment is mainly owing to rapid digitization and growing infrastructural investments in commercial vehicles.
Asia-Pacific Region to Dominate the Global Market
The report analyzes the global automotive Ethernet market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia-Pacific region market is expected to lead the global market by garnering a revenue of $2,175.8 million during the estimated timeframe. The growth of this region market is chiefly owing to the increasing technological advances, steady socio-political conditions, and substantial economic growth in this region.
Major Players in the Market:
1. Vector Informatik GmbH
2. NXP Semiconductors N.V.
3. Marvell Semiconductor, Inc.
4. Molex
5. Broadcom Inc.
6. Microchip Technology Inc.
7. Aukua Systems
8. Keysight Technologies
9. Cadence Design Systems, Inc
10. Texas Instruments Incorporated.
For instance, in January 2020, NXP Semiconductors N.V., the world’s leading provider of automotive semiconductors, launched a multi-gigabit Ethernet switch intended to help automobile manufacturers deliver the high-speed networks needed for developing connected vehicles.
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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