Vehicle Networking Market Regional Analysis:
North America Market Insights
North America industry is expected to account for largest revenue share of 34% by 2035. The market growth in the region is also expected owing to the region being home to numerous large automotive and technology industries, which increases vehicle networking market’s demand. The market for vehicle networking is projected to be driven by the region's growing adoption of advanced driver assistance systems (ADAS), electric vehicles (EVs), and connected auto technologies. In 2023, there were almost 1.6 million electric vehicles sold in the United States, a 60% increase over the 1 million sold in 2022.
European Market Insights
The Europe region will also encounter enormous growth for the vehicle networking market during the forecast period and will hold the second position. This is owing to the increasing financing to support the electrification and decarbonization of vehicles in this region. Further influencing the adoption of vehicle network communication solutions will be the strong industrial presence in the region, which includes, among others, Melexis AG and Infineon Technologies. Moreover, the region is well known for its advanced automotive manufacturing abilities and has a sizable market for luxury and high-end automobiles.
