by The Next Generation In-vehicle Networking (IVN) Market is estimated to be valued at US$ 1553.42 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Next generation in-vehicle networking utilizes advanced network technologies for data transmission within vehicles. Growing connectivity within vehicles has resulted in the integration of ADAS, infotainment systems and sensor data for applications such as autonomous driving. The next generation networks enhance bandwidth, speed and reliability of data transmission to support emerging connected vehicle technologies. CAN and Ethernet are widely adopted network protocols used in automotive networking. However, with data demands increasing exponentially, there is a need for networks with faster data transfer capabilities.
Market Dynamics:
Rising adoption of advanced driver assistance systems and autonomous driving functions is a major driver for next generation in-vehicle networking market. Modern vehicles are equipped with radars, lidars and cameras providing sensor data for applications like lane keep assist, emergency braking and others. Efficient networking is crucial to transmit huge volumes of sensor and mapping data with minimal latency. Furthermore, growing connectivity within vehicles through embedded telematics, infotainment and navigation systems is generating demand for high speed networks. Current networks like CAN and Ethernet may not be sufficient to support emerging high bandwidth applications. This is propelling automakers to adopt newer network protocols and technologies such as 5G, WiFi 6, Li-Fi and Bluetooth Mesh which provide faster data rates and lower latencies. Additionally, adoption of cloud connectivity and software updates over the air also requires networks with enhanced capabilities.
Segment Analysis
The global next generation in-vehicle networking (IVN) market is dominated by the Ethernet segment. Ethernet provides faster data transmission speed and higher bandwidth which is highly suitable for advanced autonomous driving features such as adaptive cruise control, lane assist, automatic braking, parking assist etc. Automakers are focusing on integrating more advanced driver assistance systems and autonomous driving capabilities in vehicles which requires high speed networking technologies like Ethernet.
PEST Analysis
Political: Governments across major automotive markets are promoting autonomous and connected vehicles to reduce road accidents. They are setting regulations for minimum safety and communication standards.
Economic: The demand for advanced connectivity and infotainment systems in vehicles is growing due to rising disposable incomes. Customers are willing to pay more for such features.
Social: Younger demographic is more adaptive to new in-car technologies. They expect advanced features for seamless connectivity while driving. This is increasing R&D emphasis on next-gen vehicle networks.
Technological: Technologies like 5G, AI and MEC are allowing advanced applications requiring high-speed vehicle networks. Automakers are collaborating with tech companies for latest technologies.
Key Takeaways
The Global Next Generation In-Vehicle Networking (IVN) Market Size is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period of 2023 to 2030, due to increasing demand for autonomous driving technologies. The market size for 2023 is estimated at US$ 1553.42 Mn.
North America dominates the market currently due to high vehicle production and early adoption of advanced driver assistance systems in the region. U.S. contributes significantly to the regional market growth. Asia Pacific is expected to be the fastest growing market during the forecast period led by China due to rising vehicle manufacturing in the country for domestic as well as exports.
Key players operating in the next generation in-vehicle networking (IVN) market are Acome, Aricent Inc, Agilent Technologies, AISIN AW Co Ltd, Analog Devices, Broadcom, Bosch, Daimler AG, Freescale, Harman, NXP, Renault SA, Renesas, Visteon, Wurth Elektronik, Yazaki Corporation. Major players are focusing on partnerships, new product launches and mergers & acquisitions for long-term growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
