The global automotive ethernet market is expected to witness CAGR of 21.2% during the forecast period. Automotive ethernet offers benefits such as supporting high bandwidth operation at high speed, reducing labor and cable cost by easing the configuration and optimization of the in-vehicle networks, scalability, and minimum latency. The reduced cost of ethernet technology, rising adoption of smart infotainment systems and ADAS in vehicles, robust development of autonomous vehicles, increasing disposable income among consumers will encourage them to choose luxury vehicles will propel the growth of the global automotive Ethernet market. Nevertheless, the growing investment in the connected car concept will create opportunities for growth in the automotive ethernet market.

NXP Semiconductors launched its first multi-gigabit ethernet switch, which is specially designed to help automakers deliver high-speed networks required for connected vehicles.

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The COVID-19 outbreak has adversely impacted the overall, automotive industry resulting in a negative impact on the automotive ethernet market. However, the automotive industry is recovering from the crisis and the sale of passenger cars and commercial vehicles has increased in North America, Asia-Pacific, and the European region. Moreover, initiatives schemes by the government and integration of advanced safety features along with deployment of connected vehicles have played a significant role in minimizing the cost to manufacturers and customers.

Based on component, the global automotive ethernet market is divided into hardware, software, and services. The services segment is sub-divided into consulting, implementation, and training and support. The rapidly growing demand for consulting services amongst the OEMs so as to simplify the in-vehicle network complications is the main driver for the growth of this segment. In addition, the rising incidences of challenges during the implementation of ethernet in vehicles will propel the need for training and support services.

APAC dominates the global automotive ethernet market owing to technological advancement, favorable regulations, stable socio-political conditions, and positive economic growth in the region. China and India are the fastest-growing regions in terms of population, resulting in an increase in demand for automobiles.

Some of the major players in the global Automotive Ethernet market include Broadcom, NXP Semiconductors, Marvell, Microchip Technologies Inc., Cadence Design Systems, Inc., Molex, Aukua Systems Inc., Vector Informatik GmbH, TTTech Auto AG, and System-on-CChip Engineering S.L.

Source: VynZ Research