Automotive Network Access Device Market to be dominated by Passenger Car segment through 2027
Rising adoption of Advanced Driver Assistance System (ADAS
and advanced technologies are expected to drive the demand of global automotive
network access device market in the forecast period, 2023-2027.
According
to TechSci Research report, “Automotive Network Access Device Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2017-2027”,
the global automotive network access device market is anticipated to grow at a
robust rate in the forecast period, 2023-2027. An increase in the efforts made
by the leading authorities to develop intelligent transportation systems and
the high demand for automated driving technologies and smartphone features in
cars are the major factors bolstering the global automotive network access
device market growth.
However,
the lack of infrastructure to support connected cars technology and data
security concerns may restrain the growth of the global automotive network
access device market in the forecast period.
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The
global automotive network access device market is segmented by vehicle type,
demand category, compatibility, competitional landscape, and regional
distribution.
Based on the vehicle type, the global
automotive network access device market is divided into passenger car and
commercial vehicle. The passenger car segment is dominating the market and is
expected to maintain its dominance throughout the forecast period, 2023-2027.
Changing consumers' preference for private vehicle ownership and the growing
expenditure capacity is influencing the demand for passenger cars around the
globe. An increase in the number of market players and the introduction of
attractive novel passenger car models in different colors, designs, fuel
mileage is expected to boost the market growth. Manufacturers are integrating
advanced technologies and offering connectivity through smartphones, which is
bolstering the demand of the global automotive network access device market.
Based on the compatibility, the global
automotive network access device market is divided into 4G and 5G. The 5G
compatibility segment is anticipated to witness the fastest incremental growth
in the next five years. Advanced services offered by the manufacturers depend
on wireless connectivity. The major advantage of using 5G technology is low
latency or the time it takes for the network to comprehend the command. The 5G
technology developed especially for automotive applications, such as the launch
of vehicle-to-everything (V2X) communications, is expected to lower the number
of road traffic accidents every year considerably. These effectively manage
traffic congestion in major cities and provide automobile manufacturers with an
additional revenue generation stream. Consumers are actively adopting connected
cars compatible with the new technologies and devices, and they prefer to
change the car brands to gain more connectivity within their vehicles.
Manufacturers are trying to design and manufacture 5G enable models to offer a
seamless driving experience to consumers. 5G technology offers driver
predictive information to make faster and better decisions while driving the car.
Smart cities and the ongoing digital transformation in cities fuel the
integration of cameras and sensors that can easily communicate with connected
vehicles.
Based on the regional analysis, the
Asia-pacific region holds the largest market share and is expected to witness
significant growth opportunities in the forecast period. Improving economic
conditions and the growing expenditure capacity of consumers in developing
countries like India, Indonesia, Thailand is fueling the demand for luxury
segment cars. Favorable government laws supporting the integration of network
access devices in automobiles in developed countries like Japan and the high
demand for driver-assistance systems by consumers create attractive
opportunities for market growth in the forecast period.
Major market players operating in global
automotive network access device market are:
- HARMAN International (Samsung Electronics Co. Ltd.)
- Qualcomm Technologies, Inc
- Continental AG
- Robert Bosch GmbH
- DENSO Corporation
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“Automotive manufacturers use advanced
technologies to stay ahead in the market and actively adopt cybersecurity
solutions in car-safety systems. User’s smartphone is synched with the
automobile in connected cars, and all their personal information becomes
vulnerable and faces a high probability of getting hacked. Major technology
companies such as Google are developing user-friendly automobile cybersecurity
applications. Increased demand from the consumers to monitor the vehicle
security and prevent theft activities is expected to propel the global
automotive network access device market growth till 2027” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Automotive Network
Access Device Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2017-2027, Segmented By Vehicle
Type (Passenger Car, Commercial Vehicle), By Demand Category (OEM vs
Replacement), By Compatibility (4G, 5G), and By Region”, has evaluated the future
growth potential of global automotive network access device and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global automotive network access device
market.
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