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Globally, owing to the rise in disposable income, the consumer is highly inclined towards the comfort, luxury, and advanced safety features of vehicles. Furthermore, the government's rules and regulations regarding road safety has also become highly stringent and standardized. Besides, the popularity of autonomous vehicles has led to the rise in demand for automotive transceivers. Millions of people get injured, die in road accidents is also one of the main reasons for the increase in demand for the supply of automotive transceivers. Moreover, the surge in electronic integration in the automobile industry has supplemented the development of the automotive transceiver market.
Electronic integration in the automobile industry is going to propel in the forecast period owing to the advanced technologies in vehicles, consumer's inclination towards economical and luxurious vehicles, various amendments made by the Traffic Safety Administration, Highway Safety Institutes, and stringent government rules. Rising security issues, lack of adequate knowledge regarding the handling of electronic systems, and their complexities are few reasons which can restrain the growth of the automotive transceiver market.
Key Market Driver -
Surge in the electronic integration in automobile industry is expected to drive the growth of the market in future period.
Key Market Restraint -
Security issues and rising electronic system complexities in transceivers is expected to hamper the growth of the market in the forecast period.
Globally, the automotive transceiver market has been segmented by vehicle type, by protocol, by application, and by region. By vehicle type, the market is divided into passenger cars and commercial vehicles. According to the International Organization of Motor Vehicle Manufacturers (OICA), the sale of passenger cars has increased tremendously in the past few years and is projected to show rapid growth in the future period. The rise in disposable income of the consumers, changing priorities of people, comfort, luxury, convenience in vehicles are some of the reasons from the consumer end for the rise in the sales of the passenger cars. Furthermore, stringency in government road safety laws, other rules, and regulations towards automotive safety are the foremost reasons for the upsurge in the automotive transceivers market.
On the contrary, commercial vehicles are showing steady growth in this market. By protocol type, Local Interconnect Network (LIN) has more share in the market as compared to the Controlled Area Network (CAN) and Flexray. Power mirrors, power seats, power windows, interior lights, wipers, etc. are some of the applications of LIN. It connects a variety of sensors and actuators. LIN is a simple one-wire bus that is tolerant, flexible, and cost-effective. Also, CAN has a significant share in automotive transceivers in the future period. CAN protocol is deployed mainly in chassis, powertrain, and safety applications. By application type, Safety components, Wheel Node, Body Control Module, Door/ Seat, Powertrain, Engine, Climate indicator, Steering Wheel, Chassis are some of the dominating applications of transceivers protocols. These components are widely used by automobile manufacturers for safety and luxury purposes. Nowadays, these components have turned the automobile market to a large extent.
The major players profiled in the global automotive transceivers market include Cypress Semiconductors, Broadcom Corporation, Maxim Integrated, NXP Semiconductors, Toshiba Corporation, Infineon Technologies, Microchip Technology Inc.
Geographically, the automotive transceiver market is segmented into North America, Europe, Asia Pacific and the rest of the world. The Asia Pacific dominates the automotive transceiver market as the production of passenger cars is quite high in this region owing to the rise in disposable income of the consumers, government regulations to mandate safety features in vehicles, increased R&D by manufacturers to satisfy changing consumer demands. North America is expected to show substantial growth in this market owing to the high production of commercial vehicles, rapid adoption of advanced technologies in the automobile sector. Europe also shows a significant growth in this market owing to the increasing number of automotive companies and stringent government norms regarding safety features in vehicles and road safety.
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