Automotive Ethernet Market worth $5.5 billion by 2028 - Exclusive Report by MarketsandMarkets™
CHICAGO, Feb. 5, 2024 /PRNewswire/ -- Automotive ethernet market size is projected to grow from USD 2.2 billion in 2023 to USD 5.5 billion by 2028, at a CAGR of 19.7%, according to a new report by MarketsandMarkets™. The increasing demand for faster in-vehicle networking is expected to increase the demand for automotive ethernet. Additionally, continuous innovation in connected car features will boost the demand for automotive ethernet.
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Automotive Ethernet Market Scope:
Network segment is expected to have largest share in the global automotive ethernet market
The network segment is expected to hold the largest share of the automotive ethernet industry during the forecast period. The network section of automotive ethernet is undergoing tremendous growth, exceeding other areas, as the vehicle landscape evolves toward smart features, connectivity, and autonomous driving. The necessity for high-bandwidth connection for infotainment and ADAS, the cost-effectiveness and scalability of ethernet compared to older CAN bus systems, and its role in enabling crucial technologies like V2X communication are all driving this boom. Automotive ethernet product and solution providers are working closely with automakers to develop and provide efficient solutions. For instance, NXP Semiconductors announced in July 2023 that it will be working together with Mahindra and Mahindra, Ltd. (India) over connected vehicles. Automotive ethernet, with its improved data processing capabilities and futureproof architecture, serves as the foundation for next-generation cars, assuring safer, more efficient, and more sophisticated transportation experiences.
2.5/5/10 Gbps bandwidth segment is estimated to exhibit the fastest growth in global automotive ethernet market
The 2.5/5/10 Gbps bandwidth range in automotive Ethernet signifies an exponential leap in data transfer rates, facilitating ultra-high-speed communication within vehicles. This standard enables a host of highly data-intensive applications, including extremely high-definition multimedia streaming, intricate real-time sensor fusion for advanced autonomous driving systems, and the seamless integration of complex vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication. This 2.5/5/10 Gbps bandwidths are defined by IEEE 802.3ch. PAM4 encoding, full duplex transmission, and a point-to-point topology are used by 2.5/5/10 Gbps bandwidths. These bandwidths allow the high data speeds required for autonomous driving systems. To deliver high-resolution video for image recognition, these applications demand lossless video transmission. Autonomous driving systems are linked to actuators that can assume control of the car, and there must be no interruptions in the video or other connections. Multiple companies in automotive ethernet market are providing products and solutions capable of supporting such high bandwidth. For example, Q6223 automotive ethernet switch was released by Marvell Technology, Inc. in June 2023 which houses multiple PHYs capable of 2.5 Gbps data transfer speed.
Germany to lead the electric vehicle tires market in Europe
Germany is expected to be the largest market in Europe for electric vehicle tires during the forecast period. Automotive Ethernet is growing rapidly in Germany, owing to the country's position as a worldwide automotive powerhouse and its continuous dedication to technical innovation. Germany, known for engineering prowess and cutting-edge automobile manufacture, is at the forefront of driving automotive developments. The country's automotive and technology behemoths are actively leading R&D efforts, with an emphasis on incorporating modern technologies such as driver monitoring, OTA software updates, and high-speed networking solutions into automobiles. The primary elements driving its growth in Germany include the industry's relentless pursuit of technological advancements, government support for research and innovation, stringent safety standards that necessitate robust in-vehicle networking solutions, and a consumer base that increasingly demands vehicles with cutting-edge safety features and seamless connectivity. Germany has a significant presence of automotive ethernet product and solutions providers such as Rhode & Schwarz, Ruetz System Solutions GmbH, Infineon Technologies AG and TSN Systems GmbH. In February 2023, Rhode & Schwarz announced an investment of USD 65.2 million to develop a new research and manufacturing center in the country.
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Key Market Players:
The major players in Automotive Ethernet Companies include Broadcom (US), Marvell (US), Microchip Technology Inc. (US), NXP Semiconductors (Netherlands), and Texas Instruments Incorporated (US), among others.
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