Automotive Transceivers Market Value Worth $ 9,383.65 million by 2028, Says The Insight Partners

According to The Insight Partners research reports on Automotive Transceivers can help you gain crucial insights regarding the key drivers and opportunities.

NEW YORK, UNITED STATES, April 27, 2023 /EINPresswire.com/ -- According to our latest market study on Automotive Transceivers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Protocol (CAN, LIN, FLEXRAY, and Others), Application (Safety, Body Control Module, Chassis, Powertrain, Steering Wheel, Engine, and DoorSeat), and Vehicle Type (Passenger Vehicles and Commercial Vehicles),” the market is expected to grow from US$ 6,340.11 million in 2022 to US$ 9,383.65 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2022 to 2028.

Based on geography, the global automotive transceivers market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. Asia Pacific held the largest automotive transceivers market share in 2021, followed by Europe and North America. APAC is anticipated to grow at the highest CAGR during the forecast period. In Asia Pacific, the rapidly growing economy and the increasing disposable income of middle-class consumers are majorly responsible for a surge in demand for vehicles. Automotive transceivers are deployed in the vehicles for in-vehicle connectivity and communication to enhance the safety and comfort of the passenger. In addition, the growth prospects in sales of vehicles are anticipated to propel the usage of automotive transceivers. As per the International Organization of Motor Vehicle Manufacturers, the sales of new registered vehicles increased from 41.28 million units in 2020 to 43.70 million units in 2021, registering a growth rate of 6%. Thus, such rising sales of vehicles are increasing the demand for automotive transceivers, which is fueling the market growth. Also, factors such as increasing market penetration of premium cars and safety installations in the vehicle are boosting the demand for automotive night vision systems and driver monitoring systems, which is further creating the requirement for transceivers for exchanging signals at a faster rate.

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Companies Profiled in this report includes: Broadcom; Infineon Technologies; NXP; Toshiba; and Texas Instruments

Automotive Transceivers Market: Protocol Overview

Based on protocol, the automotive transceivers market is segmented into CAN, LIN, FLEXRAY, and others. The local interconnect network (LIN) is a low-cost embedded networking standard for connecting smart devices. It is a serial network protocol defined by ISO 9141 used for communication between components in the automotive industry. It is a single-wire, serial network protocol that supports communications up to 19.2 Kbit/s at a bus length of 40m. It has lower bandwidth and node count limitations, making it preferable to control small electric motors and controls. LIN protocol is not a replacement for the CAN bus; however, it is a good alternative wherever low costs are essential, and speed/bandwidth and versatility are not crucial. In automotive applications, it is typically used within subsystems that are not critical to vehicle performance or safety, such as body electronics, chassis, doors, windows, lights, and seats.

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Automotive Transceivers Market: Competitive Landscape and Key Developments

Broadcom; Infineon Technologies; NXP; Toshiba; and Texas Instruments are the five key players operating in the automotive transceivers market. Several other major market players were analyzed to get a holistic view of the automotive transceivers market and its ecosystem. The automotive transceivers market report provides detailed insights, which will help the key players strategize the growth in the coming years.

A few initiatives taken by the key automotive transceivers market players are mentioned below.

In November 2022, to deliver critical process synchronization, Microchip Technology Inc. announced the LAN8840 and LAN8841 Gigabit Ethernet transceiver devices that meet IEEE 1588v2 standards for Precision Timing Protocol.

In September 2022, NXP Semiconductors released its 2nd generation RFCMOS radar transceiver family to production. It is optimized for fast chirp modulation.

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