Global In-Vehicle Networking Chipset Market Segmentation by Product Type (Analog ICs, Microcontrollers & Microprocessors, and Logic ICs); and by Application (Powertrain, Telematics and Infotainment, Chassis, Body Electronics, and Safety System) – Global Demand Analysis and Opportunity Outlook 2020-2029
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
The in-vehicle networking chipset market is estimated to grow with a significant CAGR during the forecast period, i.e., 2021-2029. Technological advancements in the automobile sector and the increasing concerns of consumers regarding vehicle safety are expected to fuel the automobile chip industry growth. The growth of the market can also be attributed to the increase in computerization and digitalization of an automobile's parts. The adaptation of the (ECU) Engine Control Unit in advanced vehicles will boost the market growth. According to the International Energy Agency, in 2020, electric cars' global sales reached up to 4.9 million, compared to 1.93 million in the year 2017.
On the basis of product type, the logic IC segment is expected to capture the major market shares owing to the upsurge in the sales of luxury cars. Automobile chips offer the driver to control navigation and infotainment system just by the user's voice. The chips also offer detailed information regarding maintenance level, gas level, and battery level, which are achieved with the help of sensors present in the car. The microprocessors and microcontroller segment is also estimated to capture noteworthy market share.
The market is segmented on application into powertrain, body electronics, chassis, telematics & infotainment, safety system, out of which, the powertrain segment is anticipated to grab the largest share by the end of 2021, as the networking chips are most used in powertrain, and is the most important part driving the vehicle. Moreover, the safety system segment also captures the second major share in the market as the chips help increase the safety of the vehicles. CLICK TO DOWNLOAD SAMPLE
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The Asia Pacific market is predicted to grow at the highest CAGR over the forecast period due to the increasing production of vehicles in China, India, and Japan. Furthermore, in 2021, the market in Europe is evaluated to occupy the largest share in terms of revenue, owing to the major luxury car manufacturers' presence. Alternatively, the market in North America is also anticipated to occupy a significant share in the market. In the year 2018, the total number of vehicles manufactured was approximately 95,635,000. India, China, and Japan alone constituted 42,700,000, which constituted 44.5% of global production.
The global in-vehicle networking chipset market is further classified on the basis of region as follows:
Our in-depth analysis of the global in-vehicle networking chipset market includes the following segments:
Ans: Technological advancements in the automobile industry and increase in sales of electric and hybrid cars are driving the market.
Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Ans: High cost of automobile chips and due to covid-19 pandemic, huge shortage of automobile chips.
Ans: The market in Asia Pacific region will provide ample growth opportunities owing to the increasing production of vehicles in China, India, and Japan.
Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Ans: The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product type, application and region.
Ans: With respect to application, the powertrain segment is anticipated to hold the largest market share owing to the maximum use of chipsets in powertrain.
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