Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
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's 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. CLICK TO DOWNLOAD SAMPLE
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.
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, including Volkswagen, AUDI, Porsche, and BMW. Alternatively, the market in North America is also anticipated to occupy a significant share in the market. According to the International Organization of Motor Vehicle Manufacturers, in the year 2018, the total number of vehicles manufactured is 95,634,593. India, China, and Japan alone constituted 42,713,279, which constituted 44.66% 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:
FREQUENTLY ASKED QUESTIONS
Technological advancements in the automobile industry and increase in sales of electric and hybrid cars are driving the market.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
High cost of automobile chips and due to covid-19 pandemic, huge shortage of automobile chips.
The market in Asia Pacific region will provide ample growth opportunities owing to the increasing production of vehicles in China, India, and Japan.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
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.
The market is segmented by product type, application and region.
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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