Global automotive transceivers market size is anticipated to surpass a valuation of USD 7 billion by 2024, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2024.
Vehicular systems such as steering, engines, and drivetrains are lately being subjected to advanced electrification and innovation methodologies, that are likely to augment automotive transceivers market share in the years to come. Given the extensive pollutants emitted from traditional vehicles, OEMs and suppliers have come to bring forth innovative automobile systems that provide the advantages of low emissions. With these systems demanding the requirement of several semiconductors and other electronic components, automotive transceivers market trends are expected to accelerate further through 2024.
The ethernet protocol segment is expected to register appreciable proceeds, owing to the fact that these protocols are widely adopted by OEMs. The growth of automotive transceivers market size from ethernet protocol segment can also be attributed to the rising implementation of vehicular systems such as driver assistance, powertrain, self-driving technology, infotainment, and electrified engines.
Automotive transceivers market outlook is expected to observe a remarkable transformation on account of the rising traction of body electronics application segment. This can be attributed to the transformation in dashboards, lighting modules, and control modules. Also, the demand for luxurious, comfortable vehicles in passenger and commercial vehicles has prompted OEMs across the globe to massively adopt enhanced body electronics systems.
Regionally, North America automotive transceivers market is expected to depict considerable growth through 2024. The regional expansion can be credited to the rising demand for passenger and commercial vehicles as well as the increasing adoption of autonomous driving technology in developed regions like the U.S.
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North America is also characterized by a fiercely competitive automobile industry, prompting OEMs to deliver highly advanced vehicles, further reinforcing the regional automotive transceivers market trends.
The competitive landscape of automotive transceivers market is remnant of popular companies such as Robert Bosch GmbH, Microchip Technology, Inc., NXP Semiconductors, STMicroelectronics, Renesas Electronics Corporation, Infineon Technologies AG, and Analog Devices, Inc.