Next Generation In Vehicle Networking (IVN) Market
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Next Generation In Vehicle Networking (IVN) Market – (By Vehicle Type (Passenger Car, LCV, HCV, and AGV), By Connectivity Standards (CAN, LIN, FlexRay, RF, Ethernet, and MOST), By Application (Powertrain, Safety, Body Electronics, Chassis, and Infotainment)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Next Generation In Vehicle Networking (IVN) Market is valued at US$ 1.48 Bn in 2023, and it is expected to reach US$ 2.89 Bn by 2031, with a CAGR of 9.01% during the forecast period of 2024-2031.
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Next Generation In-Vehicle Networking (IVN) describes automobiles’ state-of-the-art networking technology to link and communicate among their many parts. IVN allows various in-vehicle systems, including infotainment, telematics, powertrain, advanced driver assistance systems (ADAS), and more, to share data with other systems. Improved and quicker in-vehicle networks are required due to the increasing number of automobile data-intensive applications. These applications include over-the-air updates, cloud-based services, and high-definition streaming. These applications demand next-generation IVN systems because they offer the bandwidth and low latency needed. Hybrid and electric vehicle usage is rising in response to rising environmental concerns and government emission reduction programs, which benefits the IVN industry. Electric vehicles (EVs) need reliable networking solutions to communicate with charging stations and grid management systems as the charging infrastructure for EVs expands worldwide. However, the complexity of combining many network protocols and significant implementation costs limit industry expansion.
List of Prominent Players in the Next Generation In-Vehicle Networking Market:
• 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
• Other Prominent Players
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Market Dynamics:
Drivers-
The growing demand for the next-generation in-vehicle networking market is fueled by the development and acceptance of autonomous cars. Robust networking capabilities are essential for the many sensors, cameras, LiDAR systems, and control units of an autonomous vehicle to communicate with one another. The industry is anticipated to experience expansion due to the increased need for reliable and fast networking solutions. Increased connectivity, data analytics, and predictive maintenance are made possible by IoT integration into vehicles, further fueling the Next Gen IVN market.
Challenges:
The prime challenges are the security of data worries, a shortage of competent individuals, and a lack of norms and protocols because of lockdowns and isolation in emerging countries, which are predicted to slow the growth of the next-generation in-vehicle networking market. Concerns about data security are growing in importance due to the increasingly connected nature of cars. Automakers and developers of IVN systems face the dual issues of keeping sensitive data safe from cybercriminals and keeping customers’ personal information private. The point-to-point wiring technology is primarily utilized by the lower-end automobiles. Affordable vehicles may struggle to afford the deployment of next-gen in-vehicle networking systems. Covid-19 has harmed the market for next-generation in-vehicle networking (IVN). Lockdowns, supply chain interruptions, and decreased consumer spending all contributed to a drop in production and sales in the worldwide automotive industry.
Regional Trends:
The Asia Pacific next-generation in-vehicle networking market is anticipated to register a major market revenue share. It is projected to grow at a high CAGR in the near future because of the increasing use of cutting-edge technology and the presence of big car companies in the area. Besides, Europe had a considerable share of the market because of the rising technical standards, a thriving economy, and a peaceful political climate. The thriving automobile industry and the progression of technology are propelling the IVN market.
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Recent Developments:
• In Nov 2023, The forthcoming system on circuits (SoCs) and microcontrollers (MCUs) from Renesas Electronics Corporation are intended to address all significant challenges in the digital automotive sector. Automotive engineers would now have greater latitude to personalize designs on the fifth-generation R-Car SoC, which Renesas had previously disclosed was intended for high-performance applications and featured sophisticated in-package chiplet integration technology.
• In Feb 2024, HARMAN introduced the HARMAN Ready Connect 5G Telematics Control Unit (TCU), utilizing Qualcomm Technologies’ Snapdragon® Digital Chassis™ connected car technologies to revolutionize automotive connection. HARMAN Ready Connect 5G TCU, using the Snapdragon® Auto 5G Modem-RF Gen 2, improved vehicle connection by providing rich in-cabin experiences and lowering OEM engineering time to market. Mobile World Congress (MWC) 2024 featured the HARMAN Ready Connect 5G TCU.
Segmentation of Next Generation In-Vehicle Networking Market-
By Vehicle Type-
• Passenger Car
• LCV
• HCV
• AGV
By Connectivity Standards-
• CAN
• LIN
• FlexRay
• RF
• Ethernet
• MOST
By Application-
• Powertrain
• Safety
• Body Electronics
• Chassis
• Infotainment
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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This release was published on openPR.
