Report : Asia Pacific Automotive Transceivers Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Protocol (CAN, LIN, FLEXRAY, and Others), Application (Safety, Body Control Module, Chassis, Powertrain, Steering Wheel, Engine, and Door/Seat), and Vehicle Type (Passenger Vehicles and Commercial Vehicles)
At 7.7% CAGR, the Asia Pacific Automotive Transceivers Market is speculated to be worth US$ 5,254.84 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific automotive transceivers market was valued at US$ 3,370.64 million in 2022 and is expected to reach US$ 5,254.84 million by 2028, registering a CAGR of 7.7% from 2022 to 2028. Increasing need for communications in automobiles and equipment of advanced communication and safety features in electric vehicles are the critical factors attributed to the Asia Pacific automotive transceivers market expansion.
Automobile manufacturers are continuously striving to improve safety and performance, and reduce the environmental impact of their products, along with enhancing comfort for vehicle occupants. This, in turn, increases the volume of data generated and communicated between electronic control units (ECUs) of vehicles, along with the reliance on the same, thereby contributing to the demand for automotive transceivers. Advanced vehicles, nowadays, utilize about five separate ECUs to address the elevating demand for next-generation, embedded networks, and high bandwidths. The growing requirement for bandwidth and embedded networks propels the deployment of transceivers in automobiles.
Earlier, only high-end cars had comfort and other prime features. However, these features are gradually becoming common in other car segments due to the declining prices of sensors and ECUs with economies of scale. Nowadays, hatchbacks, and B and C segment sedans are also equipped with these comfort and safety features. This has created a huge demand for ECUs and sensors in the automotive market, which triggers the demand for transceivers, as they connect all ECUs and sensors on a single mesh network. FlexRay, one of the key players in the automotive transceivers market, provides CAN for mainstream powertrain communications and Local Interconnect Network for low-cost body electronics to optimize cost and reduce transition challenges in high-end applications. The increasing applications of LIN in body electronics such as mirrors, power seats, and accessories; CAN in powertrain components such as engine, transmission, and ABS; and FlexRay in high-performance powertrain and safety systems further trigger the adoption of transceivers. Thus, increasing communications needs in automobiles propel the growth of the Asia Pacific automotive transceivers market.
On the contrary, increasing complexities in electronic systems hampers the Asia Pacific automotive transceivers market.
Based on protocol, the Asia Pacific automotive transceivers market is segmented into CAN, LIN, FLEXRAY, and others. The CAN segment held 65.6% share of Asia Pacific automotive transceivers market in 2022, amassing US$ 2,212.19 million. It is projected to garner US$ 3,335.32 million by 2028 to expand at 7.1% CAGR during 2022–2028.
Based on application, the Asia Pacific automotive transceivers market is segmented into safety, body control module, chassis, powertrain, steering wheel, engine, and door/seat. The safety segment held 45.5% share of Asia Pacific automotive transceivers market in 2022, amassing US$ 1,532.27 million. It is projected to garner US$ 2,438.41 million by 2028 to expand at 8.1% CAGR during 2022–2028.
Based on vehicle type, the Asia Pacific automotive transceivers market is segmented into passenger vehicles, and commercial vehicles. The passenger vehicles segment held 77.0% share of Asia Pacific automotive transceivers market in 2022, amassing US$ 2,597.03 million. It is projected to garner US$ 4,184.62 million by 2028 to expand at 8.3% CAGR during 2022–2028.
Based on country, the Asia Pacific automotive transceivers market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 40.9% share of Asia Pacific automotive transceivers market in 2022. It was assessed at US$ 1,377.97 million in 2022 and is likely to hit US$ 2,207.03 million by 2028, exhibiting a CAGR of 8.2% during the forecast period.
Key players dominating the Asia Pacific automotive transceivers market are Broadcom Inc; Maxim Integrated Products Inc; Microchip Technology Inc; NXP Semiconductors NV; Renesas Electronics Corp; Robert Bosch; STMicroelectronics NV; Texas Instruments Inc; and Toshiba Corp, among others.
- In 2022; Renesas Electronics Corporation, an exclusive provider of advanced semiconductor solutions, is entering the automotive radar market by introducing a 4x4-channel, 76-81GHz transceiver developed to meet the demanding requirements of ADAS and Level 3 and higher autonomous driving applications.
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