Research study by Acumen Research and Consulting, the multi-billion dollars automotive communication technology market is gearing for a double-digit growth in the coming years. Robust innovations in automotive electronics have made it a pivotal vertical in the overall automotive industry. Following the advent of electronic control units, vehicles come in-built with a multitude of sensors, circuits, and numerous dedicated wiring. This has made wiring equipment bulkier and more complex. However, as a result of recent advancements, technologies integrated in vehicles have changed drastically, subsequently aiding growth of the automotive communication in the industry.
In the coming years, the market is projected to witness lucrative growth opportunities in Asia Pacific. Growth witnessed in the region is ascribable to the rising demand for factory fitted electronics and implementation of stringent regulations aimed at curbing emission from powertrain systems. In addition to this, the rising demand for safer driving is creating opportunities for the automotive communication technology market growth. Besides this, the demand is expected to rise considerably in developed markets across Europe. The rising awareness about recent advancements in vehicle electronics will enable growth in the Europe market.
Demand for Advanced In-vehicle Infotainment Fuels Demand in MOST Segment
Among technologies available, the market is likely to witness high demand for the media-oriented system transport (MOST). The MOST technology provides in-vehicle infotainment, besides multimedia systems. Furthermore, it enables precise communication during transmission of video, audio, or data. Furthermore, it facilitates the transmission of control information. The technology is soon picking pace in the automotive sector, as it offers an efficient communication infrastructure, supporting interconnected multimedia devices and infotainment such as active speakers.
Mid-sized Cars Segment Forecast to Showcase High Demand
Furthermore, among car segments, the market is expected to witness high demand from mid-sized cars. A mid-sized car consists of thousands of wires, which can weigh about forty-five kilos and measure over a kilometre in length. This makes the automotive wiring highly complex and cumbersome, in turn compelling auto-makers to include bus-networking in order to reduce the overall complexity as well as cost. Besides this, stringent regulations imposed to curb carbon emission from vehicles of all sizes have increased the uptake of automotive communication technology. Spurred by the aforementioned factors, the global automotive communication technology market will exhibit strong growth in the forthcoming years.
Distributors Make a Crucial Metrics in Determining Quality of Services Offered by Leading Producers
Among distribution channel, the demand in distributors segment will rise at an impressive pace. Leading communication technology providers often align their services with established distributors to provide advanced technologies worldwide. Furthermore, distributors often hold a strong position in aftermarket landscape and are a very crucial metrics in the overall dynamics. Their services are crucial to establish a strong relationship with customers making them imperative for deepening a company’s relationship with their customers. In addition to this, distributors provide necessary information on consumers are prevailing trends, besides updating manufacturers about their changing requirements.
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Some of the leading companies operating in the market, and who are likely to benefit from the aforementioned factors are NXP Semiconductors, Robert Bosch, Texas Instruments, Microchip, and Toshiba.
20+ years of diverse and extensive experience in higher education including teaching, research, and university and community service in overseas universities and colleges.
Associate Editor, and publications in international refereed journals and presented most of them in international conferences in the fields of Applied Multivariate Statistics, Mortality, Social Science, Economics.