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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