Automotive Communication Technalogy Market_PR

1. Automotive Communication Technology Market: Size & Share 2024 | Growing Rapidly with Industry Share, Industry Expansion Strategies till 2036 Analysis of Automotive Communication Technology Market Size by Research Nester Reveals the Market to grow with a CAGR of 17.3% during 2024-2036 and attain USD 82.8 billion by 2036. Research Nester assesses the growth and market size of the automotive communication technology market, which is anticipated due to the widespread demand for advanced driver assistance systems (ADAS) technologies. This is due to the rising number of traffic accidents and causalities, it is estimated that the market for devices that assist with steering, braking, monitoring, and warning tasks while driving will grow rapidly in the near future. New York – August 26, 2024- Research Nester’s recent market research analysis on “Automotive Communication Technology Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitor's analysis and a detailed overview of the global automotive communication technology market in terms of market segmentation by application, bus module, vehicle class, and by region. Growing advancements in Electric Control Units (ECUs) to promote the global market share of the Automotive Communication Technology market. The global automotive communication technology market is estimated to grow majorly on account of the worldwide adoption of face recognition, Artificial Intelligence (AI), Machine Learning (ML), big data, and the Internet of Things (IoT). This allows easy integration into vehicles which is an alluring opportunity for automotive manufacturers and dealers. Furthermore, the number of Electronic Control Units (ECUs) per vehicle has increased as a result of the automotive manufacturers' initiatives. For instance, Hitachi in 2022 stated that this integration of ECUs will result in a 25–50% reduction in the cost of electric/electronic (E/E) vehicles when compared to earlier models. Some of the major growth factors and challenges that are associated with the growth of the Automotive Communication Technology market are: Growth Drivers:  Increasing demand for connected vehicles  Shifting preference over advanced and small vehicles Challenges: The presence of concerns related to less reliability on electronics is expected to affect the market growth and act as a restraining factor.As IoT-connected devices and applications expand, there is an increasing risk of security breaches. When designing automotive communication technology, security is the priority to prevent data breaches and unauthorized access. Manufacturers may find it costly and time-consuming to comply with several laws and regulations from the automotive industry, thus, hindering market growth

2. Access our detailed report at: https://www.researchnester.com/reports/automotive- communication-technology-market/6358 By application, the automotive communication technology market is segmented into safety & ADAS, powertrain, infotainment & communication, and body control & comfort. The safety & ADAS segment is estimated to garner a significant market share over the forecast period. The segment’s growth is attributed by the ability to have real-time communication between the control units, components, and sensors. This enhances road safety along with the comfort of passengers. Furthermore, the government has also mandated several safety norms attributed to the fact that there were 36,096 car accidents in the U.S. alone in 2019, accounting for 6.7 million car accidents, as stated by the World Economic Forum in 2021. This improved ADAS functionalities and safety by offering various features. This includes adaptive cruise control, lane departure, and collision detection and avoidance. By region, Asia Pacific is expected to generate the highest revenue by the end of 2023. In 2023, the Asia Pacific market has dominated the global sales, by about 44.9%. This growth was mainly fueled by the surge in the purchase of connected & electric vehicles owing to their benefits. According to a report by the Economist Intelligence Unit in 2024, Asia will witness a growth rate of 63% in EV sales globally by 2029. Moreover, there is an increasing demand for several automobile features such as ADAS, safety features, and many more, which fuel the automotive communication technology landscape. For instance, in the Shanghai Municipal People’s Government 2023, vehicle sales and production hit more than 480,000 units, with a lucrative growth rate of 46.3% every year. Request for customization @ https://www.researchnester.com/customized-reports- 6358 This report also provides the existing competitive scenario of some of the key players in the automotive communication technology market. This includes Panasonic Holdings Corporation, Rohm Semiconductor, Maxim Integrated, Melexis NV, Xilinx Inc., Elmos Semiconductor SE, Analog Devices, Vector Informatik GmbH, Intel Corporation, Toshiba, Honda, Mitsubishi Motors, Nissan Motor, Hyundai Motor. and many more. Request Report Sample@ https://www.researchnester.com/sample-request-6358 Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates, and executives make wise decisions for their future marketing strategy, expansion, investment, etc. We believe every business can expand to its new horizon, provided the right guidance at the right time is available through strategic minds. Our out-of-the-box thinking helps our clients to make wise decisions to avoid future uncertainties. Contact for more Info: AJ Daniel Email: info@researchnester.com U.S. Phone: +1 646 586 9123 U.K. Phone: +44 203 608 5919