NEXT GENERATION IN-VEHICLE NETWORKING (IVN) MARKET ANALYSIS

In-vehicle networking is also known as the in-vehicle multiplexing. It is a method of transferring data or signals among the electronic components of a car through a common serial data bus. Every vehicle requires an In-vehicle networking, inter-module dedicated communication system. Without in-vehicle networking system, the electronic components can be connected with each other by the point-to-point wiring, however, it will result in a complex, expensive, and bulky system. By applying the In-vehicle networking, it helps to reduce the number of wires by combining multiple signals on a single wire through time division multiplexing. In in-vehicle networking system, the functions can be added easily by making changes in software and In-vehicle networking makes the communication system compact.

The Global Next Generation In-vehicle Networking (IVN) Market was valued for US$ 1,322 Mn in 2021 and is expected to exhibit a CAGR of 8.4% during the forecast period.

Market Restraint:

High total cost for ownership of flash storage is expected to restrain the growth of the global storage in big data market during the forecast period

The major restraining factor affecting the growth of the global next generation in-vehicle networking (IVN) market is high initial cost of in-vehicle networking system. The low-end vehicles mostly use the point-to-point wiring system. The adoption of next generation in-vehicle networking system can be costly for low-end cars.

Next Generation In-vehicle Networking (IVN) Market-Impact of Coronavirus (Covid-19) Pandemic:

Covid-19 has adversely affected the next-generation in-vehicle networking (IVN) market. In-vehicle networking (IVN) is widely used in vehicles as they have the capability to operate a large number of systems in the vehicle at a time. But, due to the lockdown all shops, Tourist places, malls, etc. remain shut down for a long period which resulted in less use of vehicles which hampered the transportation industry. Furthermore, due to less use of vehicles Next generation in-vehicle networking (IVN) market got collapsed and faced slow growth due to a decrease in demand for vehicles during Covid-19.

Competitive Scenario

Major players operating in the global next generation in-vehicle networking (IVN) market include 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.

Recent Developments:

In February 2022, NXP, a semiconductor company creating solutions that enable secure connections for a smarter world launched S32G vehicle integration platform with the aim to help Accelerate software-Defined Vehicle Development.

Forecasted Asia Pacific is expected to hold a dominant position in the global next-generation in-vehicle networking (IVN) market in 2030

Statistics:

Asia Pacific held a dominant position in the global next-generation in-vehicle networking (IVN) market in 2021 and is projected to retain its dominance throughout the forecast period. This is owing to increasing demand for vehicles in emerging economies such as China and India. China manufactures highest number of vehicles every year. According to CMI analysis, China manufactured about 98 million vehicles in 2021 and is expected to hold dominant position during the forecast period. As there is increasing demand for vehicles in Asia Pacific region, the demand for in-vehicle networking is also expected to increase uring the forecast period.

Figure 1: Global Next Generation In-vehicle Networking (IVN) Market Share (%), By Region, 2021

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Asia Pacific Next Generation In-vehicle Networking (IVN) Market is expected to be one of the prominent region in the global market and witness high growth during the forecast period. This is owing increasing demand for Vehicles in emerging economies such as India, and China.

The market size of the passenger cars across the globe is expected to exhibit tremendous growth over the forecast period. For instance, according to Coherent Market Insights’ analysis, the global passenger car market accounted for 12 million units in volume in 2021 and is expected to exhibit a CAGR of 15% over the forecast period. Moreover, the demand for infotainment and security systems in vehicle is also increasing. Owing to these reasons, the next generation in-vehicle networking market is expected to exhibit a significant growth during the forecast period.

Figure 2: Global Next Generation In-vehicle Networking (IVN) Market (US$ Mn) Analysis and Forecast, 2017 – 2030

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The Global Next Generation In-vehicle Networking (IVN) Market was valued at US$ 1,322 Mn in 2021 and is expected to reach US$ 2,300 Mn by 2030, growing at a CAGR of 8.4% between 2022 and 2030.