Automotive Central Gateway Module Market to grow by USD 1.15 billion from 2022 to 2027, Increasing government support to promote EVs to boost the growth - Technavio
Increasing government support to promote EVs is a key factor driving growth.
NEW YORK , Feb. 5, 2024 /PRNewswire/ -- The automotive central gateway module market is estimated to grow by USD 1.15 billion at a CAGR of 7.09% from 2022 to 2027, according to Technavio. Increasing government support to promote EVs is a key factor driving growth. Governments globally prioritize electric vehicle (EV) adoption to address concerns like oil dependency, climate change, and air quality. Incentives are offered to consumers to boost EV adoption, contributing to the growth. CGMs play a vital role in EVs, facilitating real-time secure communication of battery status. Despite shared functionality with internal combustion engine (ICE) vehicles, CGMs in EVs must support diverse networking technologies for secure external communication due to their high electronic content.
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Aptiv Plc, Beijing Jingwei Hirain Technologies Co. Inc., Continental AG, DENSO Corp., FEV Group GmbH, Flex Ltd., Hitachi Ltd., Infineon Technologies AG, Lear Corp., MarkLines, MRS Electronic GmbH and Co. KG, NXP Semiconductors NV, OMRON Corp., Panasonic Holdings Corp., Renesas Electronics Corp., Robert Bosch GmbH, STMicroelectronics NV, Tata Elxsi Ltd, TDK Corp., and Texas Instruments Inc. are key companies.
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Technavio has segmented the market based on application (passenger cars and commercial vehicles), type (LIN central gateway module, CAN central gateway module, and ethernet central gateway module), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).
- The growth of the passenger cars segment will be significant during the forecast period. The automotive industry prioritizes enhancing passenger car safety through advanced safety features requiring secure communication. The demand for automotive Connectivity Gateway Modules (CGMs) is rapidly increasing as passenger vehicles undergo substantial electrification, incorporating advanced safety, security, propulsion, connectivity, and environmental features. The surge in electronic control units (ECUs) in vehicles necessitates robust CGMs to manage secure data communication among ECUs.
By geography, the global automotive central gateway module market is segmented into APAC, North America, Europe, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth.
- APAC is estimated to contribute 43% to the growth of the global market during the forecast period. The surge in disposable income and the growing luxury vehicles in India and China contribute to increased demand. The South-Asian region, benefiting from low labor costs and proximity to manufacturing plants, becomes a hub for automotive electronics production. This cost advantage reduces vehicle manufacturing costs, driving higher demand for luxury vehicles with advanced features and promoting the adoption of Connectivity Gateway Modules (CGMs) with robust networking capabilities.
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- The development of integrated cybersecurity solutions is a primary trend shaping the growth.
- Low consumer awareness toward advanced safety technologies inhibits revenue growth of CGM will be a significant challenge in restricting growth.
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Automotive Central Gateway Module: Benefits
The automotive central gateway module serves as a critical component in modern automotive electronics, facilitating vehicle connectivity and communication within in-vehicle networks. It acts as a central hub for various automotive control units and electronic control modules, enabling seamless integration of automotive technology and IoT in automotive applications. This module plays a key role in processing vehicle data, and supporting connected cars and automotive communication systems while ensuring automotive cybersecurity and vehicle diagnostics. It contributes to the efficient electronic architecture of vehicles, enabling automotive software and networking, including the CAN bus, telematics, and automotive data exchange. Overall, the central gateway module enhances vehicle electronics integration and provides automotive connectivity solutions for advanced automotive systems.
What are the key data covered in this Automotive Central Gateway Module Market report?
- CAGR during the forecast period
- Detailed information on factors that will drive the growth between 2023 and 2027
- Precise estimation of the size and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Automotive Central Gateway Module industry across APAC, North America, Europe, South America, and the Middle East and Africa
- A thorough analysis of the competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of Automotive Central Gateway Module companies
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Sizes
Five Forces Analysis
Segmentation by Application
Segmentation by Type
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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