PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1238823
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1238823
The Next Generation in-vehicle networking (IVN) market size was valued at USD 1,507.1 Million in 2022, expanding at a CAGR of 7.8% from 2023 to 2030.
Next-generation in-vehicle networking (IVN) is a method of connecting electronic components of the vehicle through single common serial data. Additionally, IVN uses connectivity standards including CAN, RF, LIN, Ethernet, FlexRay, and MOST. Moreover, IT also helps vehicle users with various activities including reporting worries about the environment and fuel consumption and diversifying the necessities of drivers & passengers. Furthermore, increasing adoption of next-generation IVN in the vehicle generation due to control of internal vehicle system and effective tracking records across all applications.
Key factors enhance the market growth of next-generation in-vehicle networking including the low price at a minimum risk, a high-speed interface connecting the network, and offering state-of-the-art performance. Additionally, offering a well-understood network to vehicle passengers and drivers is expected to propel the market growth. However, high initial costs and lack of awareness can restrain the market growth during the forecast period.
Moreover, rising demand for security and safety sensors in the automobile is projected to drive market growth. The COVID-19 had impacted market growth negatively. IVN is widely used in vehicles but due to the lockdown all tourist places, malls, and shops remain shut down for a long period as a result less use of vehicles further hampers the transportation industry which also impacted the next generation's in-vehicle networking market growth.
The Global next generation in-vehicle networking (IVN) market is segmented based on vehicle type, connectivity standards, application, and Region.
Based on vehicle type, the market is divided into passenger car, lcv, hcv, and agv. The passenger car segment is expected to possess the largest market share due to the increasing demand for security and infotainment systems in a vehicle is expected to increase the passenger car segment growth.
Based on the connectivity standards, the market is segmented into CAN, LIN, FlexRay, RF, Ethernet, and MOST. The Ethernet segment is expected to hold the largest market share during the forecast period. It helps to avoid point-to-point connections which make the communication system bulky. Additionally, to make the communication system compact ethernet uses a single wire to transfer multiple signals to multiple components.
Based on the application, the market is segmented into powertrain, safety, body electronics, chassis, and infotainment. The safety segment is expected to dominate the market. as road accidents are increasing globally day by day, people prefer safety and security sensor vehicles which are propelling segment growth.
Market players are focusing on launching new products which are expected to increase the market growth. Additionally, due to the continued development in demand for vehicles in the coming years, the worldwide market Next generation in-vehicle networking is made of both international and local producers, making it one of the most competitive sectors all over the world. Key players are adopting strategies such as agreements, collaborations, and mergers and acquisitions. Moreover, companies are launching new and comprehensive solutions including security solutions and next-generation In-Vehicle networking solutions which further boost the market growth.
In February 2023, NXP, a semiconductor company launched the S32G vehicle integration platform to help address real-time and application development challenges of accelerating software-defined vehicles using S32G vehicle network processors.
This proposed research study on the next generation in-vehicle networking (IVN) market provides market size (US$ Million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the next generation in-vehicle networking (IVN) market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the next generation in-vehicle networking (IVN) market.
The impact of COVID-19 on the next generation in-vehicle networking (IVN) market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight intothe next generation in-vehicle networking (IVN) market post-COVID will also be covered.
To give the users of this report a comprehensive view of next generation in-vehicle networking (IVN) market, we have also included a competitive landscape and key innovator analysis for the next generation in-vehicle networking (IVN) market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offersdetailed company profiling featuring major market participantswhich will help users to understand the financial information and strategic initiatives of players operating in the next generation in-vehicle networking (IVN) market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global next generation in-vehicle networking (IVN) market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows: