Automotive Ethernet Market Report
Automotive Ethernet Market by Component (Hardware, Software, and Services), Vehicle Type (Passenger Cars and Commercial Vehicles), Application (Chassis, Infotainment, Driver Assistance, Power train, Body & Comfort, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027
Global Automotive Ethernet Market Analysis
The global automotive Ethernet market is expected to garner $6,494.8 million in the 2020–2027 timeframe, increasing from $1,920.9 million in 2019 at a healthy CAGR of 20.8%.
The emergence of autonomous and connected vehicle technology worldwide is one of the key trends that may increase the demand in the automotive Ethernet market.
However, proliferation of cyber security attacks is the reason restraining the global automotive Ethernet market growth.
According to the regional analysis of the automotive Ethernet market, the Asia-Pacific market is expected to surge at a CAGR of 21.4% by registering a revenue of $2,175.8 million, throughout the analysis period.
Automotive Ethernet Overview
Automotive Ethernet is the physical network that is mainly used to connect components within the vehicle using a cabling (wired network). Automotive Ethernet offers several key features including communication between electric vehicles and charging stations, in-vehicle communication, and diagnostics via DoIP (Diagnostic Over Internet Protocol). Also, automotive Ethernet helps in reducing the weight and cost of vehicles considerably over the traditional wiring harness. Furthermore, majority of the leading car manufacturers namely General Motors, Hyundai and Volkswagen are adopting the Ethernet technology for all classes of cars.
Impact Analysis of COVID-19 on the Global Automotive Ethernet Market
The communal transmission of coronavirus brought unprecedented challenges to most of the businesses worldwide. Adverse political conditions and obstructions in the international operations are some of the elements negatively affecting the automotive industry, across the globe. Hence, the global automotive Ethernet market had also experienced a negative impact throughout the period. On the other hand, leading automotive Ethernet companies like NXP Semiconductors., Dutch semiconductor manufacturer with headquarters in Eindhoven, came up with multiple strategies like product development, and research & innovations. For instance, in January 2020, NXP Semiconductors., announced the launch of safe and secure automotive Ethernet multi-gigabit switch for time sensitive networking (TSN). This Ethernet switch mainly delivers high levels of performance and high-speed networks for connected vehicles. Such company developments and social initiatives may drive the global automotive Ethernet market, post COVID-19 pandemic.
Adoption of Ethernet Technology among Notable Automotive Manufacturers to Flourish the Global Market
The application and automation are significantly driving the global automobile market forward, and hence, the demand for flexibility, bandwidth, and in-car networks, are also evolving. Emerging technologies like automotive Ethernet are playing crucial role in automotive network architecture and automotive cybersecurity. Hence, huge number of notable cable & connector manufacturers, automotive tier-1s, and leading automotive OEMs are coming forward to increase the widespread adoption of automotive Ethernet application. For example, in April 2021, automotive and tech leaders such as BMW AG, TOYOTA MOTOR CORPORATION., AB Volvo, and others announced the incorporation of ‘OPEN Alliance SIG’. It is a networking organization where all expertise of automotive Ethernet come together. This collaboration is significantly helping customers in improving comfort and infotainment, in-vehicle safety, while notably decreasing cabling costs and overall network complexity. Such company initiatives may further lead to bolster the market growth, in the coming years.
To know more about global automotive Ethernet market drivers, get in touch with our analysts here.
High Cost of Installing Automotive Ethernets to Restrain the Market Growth
The proliferation of cyber security attacks is one of the major reasons restraining the global automotive Ethernet market growth. Moreover, the vendors in automotive Ethernet market worldwide are affected mainly owing to the restrictions on manufacturers as well as the declared industrial shutdown, which in turn is severely impacting the global automobile Ethernet industry.
Growing Emphasis on the Reduction of Carbon Footprint to Create Investment Opportunities
Road vehicles are mainly responsible for the huge global CO2 emissions. For example, as per research conducted by U.S. Environmental Protection Agency, in 2019, greenhouse gas emissions from transportation sector accounted for around 29% of total U.S. greenhouse gas emissions. Thus, the adoption of ‘two low-power’ versions of automobile Ethernet is expected to significantly increase, which mainly helps in cutting CO2 emissions. Also, several companies like Microchip Technology Inc., a leading provider of mixed-signal, Flash-IP solutions, and microcontroller, are coming up with novel technological innovations. For instance, in July 2020, Microchip Technology Inc. announced the official launch of LAN8770 EtherGREEN, an energy efficiency technology. This provides low-power operation combined with ultra-low wake-up and power sleep modes. Such novel product developments may create favorable conditions for the global automotive Ethernet market, in the future.
To know more about global automotive Ethernet market opportunities, get in touch with our analysts here.
Global Automotive Ethernet Market, by Components
Based on components, the market has been divided into hardware, software, and services sub-segments of which the services sub-segment is anticipated to experience the fastest growth and hold the most dominant market share.
Source: Research Dive Analysis
The hardware component of automotive Ethernet industry is expected to have the largest share in the global market and is anticipated to generate a revenue of $4,357.8 million, during the forecast period.
Automotive Ethernet provides a broad range of key benefits, such as scalability, speed, higher bandwidth, low latency. The massive increase in the demand for infotainment and ADAS (Advanced driver-assistance systems) has encouraged automotive OEMs to adopt Ethernet hardware components namely gateway, bridges routers, repeaters, and others. Also, key companies like NXP are coming up with novel product innovations, which are further creating significant impact on the global automotive Ethernet market. For instance, in February 2020, NXP Semiconductors., one of the largest manufacturers of automotive semiconductors, has announced to launch a ‘multi-gigabit Ethernet switch’. This switch has been developed to help automobile manufacturing companies deliver the high-speed network needed for the fully integrated connected vehicles. Such product advancements may also further drive the segment, in the forecast period.
The services sub-segment of the global automotive Ethernet industry is expected to have rapid growth and it is anticipated to cross $826.2 million by 2027, with the rise from $218.4 million in 2019.
The services segment is expected to grow at a high rate throughout the analysis period. The services sub-segment mainly comprises training & support, implementation, and consulting. The enormously growing demand for consulting services in the OEMs (Original Equipment Manufacturer) in order to resolve the in-vehicle network complexities is one of the crucial factors bolstering the subsegment’s growth. Moreover, the increasing incidences of issues faced throughout the implementation of Ethernet system in the vehicles may further surge the need for services sub segment, in the coming years.
Global Automotive Ethernet Market, by Application
On the basis of application, the market has been sub-segmented into infotainment, body and comfort, chassis, power train, driver assistance, and others. Among the mentioned sub-segments, the driver assistance sub-segment will have largest share and it will show the fastest growth, in the coming years.
Source: Research Dive Analysis
The driver assistance sub-segment of the global automotive Ethernet market is projected to have the fastest growth and it is projected to surpass $2,642.7 million by 2027, with an increase from $734.1 million in 2019.
The rapid shift in the consumer’s preference combined with the robust demand for safe & fuel-efficient vehicles is driving the demand of the driver assistance sub-segment in the global industry. In addition to this, the massive rise in the demand for vehicle infrastructure integration with high-tech devices is upsurging the OEMS (Original Equipment Manufacturers) to manufacture in-car infrastructure as per the growing demand for next-generation autonomous and connected cars vehicles in the customers.
Global Automotive Ethernet Market, by Vehicle Type:
Based on vehicle type, the segment has been bifurcated into commercial vehicles and passenger cars. Out of these, the commercial vehicles sub-segment is predicted to have the fastest growth and passenger cars sub-segment is anticipated to garner the maximum revenue share in the global market.
Source: Research Dive Analysis
The commercial vehicle sub-segment of the global automotive Ethernet market is predicted to have a rapid growth and it is expected to surpass $2,073.3 million by 2027, with the rise from $540.3 million in 2019.
Digitization combined with increasing infrastructural investments worldwide is further projected to elevate demand for commercial vehicle segment, during the analysis period. Furthermore, several key players such as Molex, a technology leader in data communications and commercial vehicles, are following strategic collaborations in order to grow in the market. For instance, in January 2018, Molex and Aquantia, a leading player of high-speed transceivers, announced a strategic tie-up. As per this agreement, both companies will work on leveraging ‘Aquantia Multi-Gig Automotive Ethernet’ technologies in the Molex 10 Gbps Automotive Ethernet Network in order to escalate data bandwidth in autonomous and connected vehicles. Such advanced strategies may bolster the subsegment growth, in the projected period.
The passenger cars sub-segment is predicted to have a dominating market share in the global market and is anticipated to generate a revenue of $4,423.3 million, during the analysis timeframe. The passenger cars sub segment for automotive Ethernet industry has been witnessing extensive growth mainly owing to the improvement in economic condition, technological advancements in the passenger cars, and rise in the consumers’ disposable incomes. Also, automotive Ethernet provides numerous key features such low cost, higher bandwidth, flexible and scalable technology that is suitable for both multiple car series and rapidly changing platform. With the deployment of affordable automotive ethernet, it can be possible to provide crucial features like infotainment, ADAS features such as lane departure warning and surround-view parking. Such factors are fueling the sub-segment growth.
Global Automotive Ethernet Market, Regional Insights:
The automotive Ethernet market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Market for Automotive Ethernet in Asia-Pacific to be the Most Dominant and Fastest Growing
The Asia-Pacific automotive Ethernet market accounted $620.5 million in 2019 and is expected to register a revenue of $2,175.8 million by 2027. The Asia-Pacific automotive sector has witnessed notable transformation owing to the technological innovations, stable socio-political conditions, and significant economic growth. Asia pacific region is contributing a largest share in terms of manufacturing of vehicles as well as sales of vehicles worldwide. Mass consumer base and surging disposable income across the emerging countries like India, China, and Malaysia, have been fueling the automotive industry. Thus, automotive OEMs and Ethernet like Mitsubishi, NEXCOM International Co., Ltd., and DASAN Networks, Inc. operating in the region have lucrative opportunities in order to increase business revenue.
Competitive Scenario in the Global Automotive Ethernet Market
Product launches and mergers & acquisitions are common strategies followed by major market players.
Source: Research Dive Analysis
Some of the leading automotive Ethernet market players are Vector Informatik GmbH, NXP Semiconductors N.V., Marvell Semiconductor, Inc., Molex, Broadcom Inc., Microchip Technology Inc., Aukua Systems, Keysight Technologies, Cadence Design Systems, Inc, and Texas Instruments Incorporated.
Porter’s Five Forces Analysis for the Global Automotive Ethernet Market:
- Bargaining Power of Suppliers: A wide variety of products offered by suppliers is one of the major reasons for the increase in suppliers’ bargaining power.
Hence, the bargaining power suppliers is high.
- Bargaining Power of Buyers: Global automotive Ethernet market has less number of customers which increases the negotiation power of customers across the globe. In addition, switching costs in this market is low which is again increases the buyers’ bargaining power.
Hence, the bargaining power of the buyers is moderate.
- Threat of New Entrants: Companies entering the automotive Ethernet market are developing innovative automotive Ethernet products which help automotive industry designers, engineers, and manufacturers develop high-performance solutions that enhance safety in any driving conditions.
Hence, the threat of the new entrants is high.
- Threat of Substitutes: There is no alternative product for automotive Ethernet system.
Thus, the threat of substitutes is low.
- Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including Vector Informatik GmbH, NXP Semiconductors N.V., Marvell Semiconductor, Inc. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
Therefore, competitive rivalry in the market is high.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Components
Segmentation by Application
Segmentation by Vehicle type
Key Companies Profiled
Q1. What is the size of the global automotive ethernet market?
A. The size of the global automotive ethernet market was over $1,920.9 million in 2019 and is projected to reach $6,494.8 million by 2027.
Q2. Which are the major companies in the automotive ethernet market?
A. Vector Informatik GmbH, NXP Semiconductors N.V., and Marvell Semiconductor, Inc., are some of the key players in the global automotive ethernet market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific automotive ethernet market?
A. Asia Pacific automotive ethernet market is anticipated to grow at 21.4% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. Molex, Broadcom Inc. are investing more on R&D activities for developing new products and technologies.
CHAPTER 1: RESEARCH METHODOLOGY
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
1.4.2. Forecast parameters
CHAPTER 2:EXECUTIVE SUMMARY
2.3.Vehicle type trends
CHAPTER 3:MARKET OVERVIEW
3.1.Market segmentation & definitions
3.2.1. Top investment pockets
3.2.2. Top winning strategies
184.108.40.206 Top winning strategies, by year, 2021-2028*
220.127.116.11 Top winning strategies, by development, 2021-2028*(%)
18.104.22.168 Top winning strategies, by company, 2021-2028*
3.3.Porters five forces analysis
3.8.Market value chain analysis
3.10.Impact of key regulations
CHAPTER 4:IMPACT OF COVID-19 ON AUTOMOTIVE ETHERNET MARKET
4.2.COVID-19 health assessment
4.3.Impact of COVID-19 on global economy
4.4.Impact of COVID-19 on automotive ethernet market
4.4.1. Social impact
4.4.2. Technological impact
4.4.3. Investment scenario
4.5.Automotive Ethernet market size and forecast, by region, 2021-2028
CHAPTER 5:AUTOMOTIVE ETHERNET MARKET BY COMPONENT
5.1.1. Market size and forecast, by component
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis, by country
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis, by country
5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market share analysis, by country
CHAPTER 6:AUTOMOTIVE ETHERNET MARKET BY VEHICLE TYPE
6.1.1. Market size and forecast, by vehicle type
6.2. PASSENGER CARS
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis, by country
6.3. COMMERCIAL VEHICLES
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis, by country
CHAPTER 7:AUTOMOTIVE ETHERNET MARKET BY APPLICATION
7.1.1. Market size and forecast, by application
7.2.1. Key market trends, growth factors and opportunities
7.2.2. Market size and forecast, by region
7.2.3. Market share analysis, by country
7.3.1. Key market trends, growth factors and opportunities
7.3.2. Market size and forecast, by region
7.3.3. Market share analysis, by country
7.4. DRIVER ASSISTANCE
7.4.1. Key market trends, growth factors and opportunities
7.4.2. Market size and forecast, by region
7.4.3. Market share analysis, by country
7.5. POWER TRAIN
7.5.1. Key market trends, growth factors and opportunities
7.5.2. Market size and forecast, by region
7.5.3. Market share analysis, by country
7.6. BODY AND COMFORT
7.6.1. Key market trends, growth factors and opportunities
7.6.2. Market size and forecast, by region
7.6.3. Market share analysis, by country
7.7.1. Key market trends, growth factors and opportunities
7.7.2. Market size and forecast, by region
7.7.3. Market share analysis, by country
CHAPTER 8:AUTOMOTIVE ETHERNET MARKET BY REGION
8.1.1. Market size and forecast, by region
8.2.1. Key market trends and opportunities
8.2.2. Market size and forecast, by component
8.2.3. Market size and forecast, by vehicle type
8.2.4. Market size and forecast, by application
8.2.5. Market size and forecast, by Country
22.214.171.124. Key market trends and opportunities
126.96.36.199. Market size and forecast, by component
188.8.131.52. Market size and forecast, by vehicle type
184.108.40.206. Market size and forecast, by application
220.127.116.11. Key market trends and opportunities
18.104.22.168. Market size and forecast, by component
22.214.171.124. Market size and forecast, by vehicle type
126.96.36.199. Market size and forecast, by application
188.8.131.52. Key market trends and opportunities
184.108.40.206. Market size and forecast, by component
220.127.116.11. Market size and forecast, by vehicle type
18.104.22.168. Market size and forecast, by application
8.3.1. Key market trends and opportunities
8.3.2. Market size and forecast, by component
8.3.3. Market size and forecast, by vehicle type
8.3.4. Market size and forecast, by application
8.3.5. Market size and forecast, by Country
22.214.171.124. Key market trends and opportunities
126.96.36.199. Market size and forecast, by component
188.8.131.52. Market size and forecast, by vehicle type
184.108.40.206. Market size and forecast, by application
220.127.116.11. Key market trends and opportunities
18.104.22.168. Market size and forecast, by component
22.214.171.124. Market size and forecast, by vehicle type
126.96.36.199. Market size and forecast, by application
188.8.131.52. Key market trends and opportunities
184.108.40.206. Market size and forecast, by component
220.127.116.11. Market size and forecast, by vehicle type
18.104.22.168. Market size and forecast, by application
22.214.171.124. Key market trends and opportunities
126.96.36.199. Market size and forecast, by component
188.8.131.52. Market size and forecast, by vehicle type
184.108.40.206. Market size and forecast, by application
220.127.116.11. Key market trends and opportunities
18.104.22.168. Market size and forecast, by component
22.214.171.124. Market size and forecast, by vehicle type
126.96.36.199. Market size and forecast, by application
8.3.11.Rest of Europe
188.8.131.52. Key market trends and opportunities
184.108.40.206. Market size and forecast, by component
220.127.116.11. Market size and forecast, by vehicle type
18.104.22.168. Market size and forecast, by application
8.4.1. Key market trends and opportunities
8.4.2. Market size and forecast, by component
8.4.3. Market size and forecast, by vehicle type
8.4.4. Market size and forecast, by application
8.4.5. Market size and forecast, by Country
22.214.171.124. Key market trends and opportunities
126.96.36.199. Market size and forecast, by component
188.8.131.52. Market size and forecast, by vehicle type
184.108.40.206. Market size and forecast, by application
220.127.116.11. Key market trends and opportunities
18.104.22.168. Market size and forecast, by component
22.214.171.124. Market size and forecast, by vehicle type
126.96.36.199. Market size and forecast, by application
188.8.131.52. Key market trends and opportunities
184.108.40.206. Market size and forecast, by component
220.127.116.11. Market size and forecast, by vehicle type
18.104.22.168. Market size and forecast, by application
22.214.171.124. Key market trends and opportunities
126.96.36.199. Market size and forecast, by component
188.8.131.52. Market size and forecast, by vehicle type
184.108.40.206. Market size and forecast, by application
220.127.116.11. Key market trends and opportunities
18.104.22.168. Market size and forecast, by component
22.214.171.124. Market size and forecast, by vehicle type
126.96.36.199. Market size and forecast, by application
8.4.11.Rest of Asia-Pacific
188.8.131.52. Key market trends and opportunities
184.108.40.206. Market size and forecast, by component
220.127.116.11. Market size and forecast, by vehicle type
18.104.22.168. Market size and forecast, by application
8.5.1. Key market trends and opportunities
8.5.2. Market size and forecast, by component
8.5.3. Market size and forecast, by vehicle type
8.5.4. Market size and forecast, by application
8.5.5. Market size and forecast, by Country
8.5.6. Latin America
22.214.171.124. Key market trends and opportunities
126.96.36.199. Market size and forecast, by component
188.8.131.52. Market size and forecast, by vehicle type
184.108.40.206. Market size and forecast, by application
220.127.116.11. Key market trends and opportunities
18.104.22.168. Market size and forecast, by component
22.214.171.124. Market size and forecast, by vehicle type
126.96.36.199. Market size and forecast, by application
188.8.131.52. Key market trends and opportunities
184.108.40.206. Market size and forecast, by component
220.127.116.11. Market size and forecast, by vehicle type
18.104.22.168. Market size and forecast, by application
CHAPTER 9:COMPANY PROFILES
9.1. VECTOR INFORMATIK GMBH
9.1.4.Operating business segments
9.1.8.Key strategic moves and developments
9.2. NXP SEMICONDUCTORS N.V.
9.2.4.Operating business segments
9.2.8.Key strategic moves and developments
9.3. MARVELL SEMICONDUCTOR, INC.
9.3.4.Operating business segments
9.3.8.Key strategic moves and developments
9.4.4.Operating business segments
9.4.8.Key strategic moves and developments
9.5. BROADCOM INC.
9.5.4.Operating business segments
9.5.8.Key strategic moves and developments
9.6. MICROCHIP TECHNOLOGY INC.
9.6.4.Operating business segments
9.6.8.Key strategic moves and developments
9.7. AUKUA SYSTEMS
9.7.4.Operating business segments
9.7.8.Key strategic moves and developments
9.8. KEYSIGHT TECHNOLOGIES
9.8.4.Operating business segments
9.8.8.Key strategic moves and developments
9.9. CADENCE DESIGN SYSTEMS, INC.
9.9.4.Operating business segments
9.9.8.Key strategic moves and developments
9.10. TEXAS INSTRUMENTS INCORPORATED
9.10.4.Operating business segments
9.10.8.Key strategic moves and developments
Automotive Ethernet is a type of communication mechanism that links a vehicle’s functions via a wiring cable network. Autonomous vehicles require a range of connectivity features to operate effectively, such as LiDAR, cameras, and traffic-sign recognition. Further, the ADAS (Advanced Driver Assistance Systems) and V2X connectivity are considered as main pillars of the autonomous vehicles. V2X connectivity depends on hundreds of sensors for vehicle-to-network, vehicle-to-vehicle, vehicle-to-infrastructure, vehicle-to-utility, and vehicle-to-pedestrian. ADAS is more oriented towards LIDAR, camera, and RADAR. Furthermore, the wiring utilized in the automotive Ethernet for vehicles is efficient and lighter as compared to the traditional cabling found in the in-vehicle connectivity.
Forecast Analysis of the Automotive Ethernet Market
The global automotive Ethernet market is anticipated to enhance due to rise in the automation and application sectors. Also, features of automation Ethernet such as bandwidth, flexibility, and in-car networks enhance the demand for Ethernet. A significant number of connector and cable manufacturers, leading automotive OEMs, and automotive tier-1s are stepping forward to augment the usage of automotive Ethernet application. For instance, in April 2021, tech leaders such as TOYOTA and BMW AG declared the incorporation of ‘OPEN Alliance SIG’, a platform for all experts on automotive Ethernet. Apart from this, in October 2017, Keysight Technologies, an electronics company, announced the launch of five novel automotive Ethernet solutions. These solutions are designed to bring products in the market quicker with simple conformance testing. All these aspects are responsible for the market surge in the coming years.
According to a new report offered by Research Dive, the global automotive Ethernet market is projected to reach $6,494.8 million during the 2020-2027 timeframe. Furthermore, the Asia-Pacific market is predicted to experience tremendous growth due to stable social-political conditions, technological discoveries, and economic growth. Therefore, companies such as NEXCOM International Co., Ltd., Mitsubishi, and DASAN Networks, Inc. are functioning in the region to enhance businesses.
Recent Developments in the Market
The well-known players of the global automotive Ethernet market are aiming for unique strategies such as mergers and acquisitions of prospering companies, constructing product portfolios, new product declarations, investments in research & development fields, and funding for the upcoming activities and innovations. These tactics are propelling the growth of businesses across the world. For instance, in February 2021, Rohde & Schwarz, an international electronics group, launched a decoding solution for 1000BASE-T1 automotive Ethernet. This solution provides Tier1 and OEMs supplier the possibility to decode and analyze bus speeds of the automotive design. Furthermore, in the same month, Tekronix, Inc, a manufacturing company in America, declared the launch of TekExpress Multi-Gigabit automotive Ethernet compliance test solution. This solution is easy-to-use, reliable, and test support.
Apart from this, in February 2020, Marvell, a technical company, announced the launch of its second generation automotive Ethernet PHY. The company offers a portfolio of automotive switches, controller solutions, and PHYs. Also, in the same year, NXP, a supplier of the automotive semiconductors, introduced a ‘multi-gigabit Ethernet switch’ which is developed to aid automakers in delivering high speed connectivity for the vehicles.
Covid-19 Impact on the Automotive Ethernet Market
The global automotive Ethernet market is estimated to witness adverse effects during the Covid-19 pandemic due to hindrance in the international operations. The automotive industry is expected to face negative impact during the pandemic due to closure of industries and strict rules for movements to curb the infection rate of the novel coronavirus. These all aspects are estimated to leave an undesirable impact of the global market during the outbreak phase.
Future Scope of the Market
The automotive Ethernet market is projected to grab ample of opportunities in the forthcoming years due to the need to reduce carbon footprint emissions into the atmosphere. Moreover, initiatives taken up by the key players to develop cutting edge technologies are likely to gain upper edge in the global market.