According to a recent report published by Allied Market Research, titled,"Automotive Transceivers Market by Protocol, Application, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2018 - 2025" the global automotive transceivers market size was valued at $4,429.2 million in 2017, and is expected to reach at $7,187.5 million by 2025, growing at a CAGR of 6.2% from 2018 to 2025.
At present, Asia-Pacific dominates the market, followed by Europe, North America, and LAMEA. China dominated the Asia-Pacific market in 2017 and Germany led the overall market in Europe. However, in North America, the U.S. currently dominates the automotive transceivers market.
In recent years, there is considerable development in the automated driving systems (ADS). Some of the cars sold today have adopted to the automated operations. In addition, prototype cars, which are capable of the autonomous driving are being tested on public roads of Europe, Japan, and the U.S. Automated system features reduced congestions, improved safety, and less stress level for car occupants. Due to presence of such features, there is an increase in demand for the automated vehicles, which is expected to create different opportunities for the key players operating in the global automotive transceivers market. Further, government approach toward safety and security of vehicles is changing globally and is imposing various regulations, which are establishing mandates for the auto makers to develop automobiles with pre-installed safety features, which is fueling the trend of the connected car devices. In addition, growth in information and telecommunication infrastructure boosts the ongoing trend, which is expected to create ample number of opportunities for the key players operating in the global automotive transceivers market.
The automotive industry have evolved over last 30 years and purely mechanical components or systems are getting replaced with the combination of the mechanical systems with the electronics systems to achieve the highest performance. The traditional automobiles consist of heavy mechanical systems, but the overall efficiency & performance of the system gets enhanced with the with the inclusion of electronic systems. This electronic integration leads to reduced emissions of environmental pollutants, higher efficiency, and increased safety, convenience, & comfort which in anticipated to drive the automotive transceivers market.
According to the fact sheet of World Health Organization, road traffic injuries are the leading cause of death among people aged between 15 and 29 years, and 1.25 billion people die every year as a result of road accidents. In addition, 90% of the world's fatalities on the roads occur in low- and middle-income countries, though such countries have approximately 54% of the world's vehicles. Moreover, for most of the countries, road accidents cost 3% of their gross domestic product (GDP). Such factors result in increased demand for vehicles equipped with active seat belts for safety & security of the driver and the occupants inside the vehicle. Furthermore, road accidents cause considerable economic losses to individuals, their families, and to the nation as a whole. Such losses arise from the cost of treatment and loss of productivity for people killed or disabled by their injuries, and for the rest of family members, which in turn fuels the demand of for inclusion of safety systems such as airbags, active seat belts, ABS, EBS, and others in the vehicles. This in turn is expected to boost the sales of the automotive transceivers.
Government approach towards safety and security of vehicles is changing globally and is imposing various regulations which are establishing mandates for the auto makers to develop automobiles with pre-installed safety features which is fueling the trend of the connected car devices. In addition, growth in information and telecommunication infrastructure is also fueling the ongoing trend which is expected to create ample number of opportunities for the key players operating in the market.
Key Findings of the Automotive Transceivers Market:
- Based on application, the BCM generated the highest revenue in the global automotive transceivers market analysis in 2017.
- LAMEA is anticipated to exhibit the highest CAGR during the forecast period while considering automotive transceivers market growth.
- In 2017, Asia-Pacific contributed the highest market share, followed by Europe, North America, and LAMEA.
The key players profiled in the global automotive transceivers market share include Broadcom Corporation, Cypress Semiconductors, Infineon technologies, Maxim Integrated, Microchip Technology Inc., NXP Semiconductors, Robert Bosch GmbH, STMicroelectronics, Texas Instruments Inc., and Toshiba Corporation.