Global automotive transceivers market is anticipated to depict a CAGR of 6.5% through 2024, having recorded a valuation of USD 4.5 billion in 2017. By 2024, the market is expected to hit a remuneration of USD 7 billion, further claims the latest study by Global Market Insights Inc.
Owing to an unprecedented rate of technological development in the automobile sector, the global automotive transceivers industry has expanded at a remarkable pace. The influx of numerous in-built features in a vehicle, such as safety and infotainment systems, based on advanced connectivity protocols have create a need for high quality electronic components. The automotive transceivers market has experienced tremendous impulsion to meet this demand of improved communication capabilities for supporting multiple protocols.
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Traditionally, most of the power steering systems in vehicles are hydraulic systems, but the electric power steering systems are gaining enormous momentum due to the increased efficiency and performance they offer. Elimination of the different physical components of a hydraulic system makes EPS a smaller and lighter alternative, depending mostly on communication between electronic control units and sensors. The growing adoption of EPS in cars and commercial vehicles will propel the automotive transceivers market revenue. A key benefit of the EPS system is that it powers the EPS motor only when it is required, making it notably more efficient.
Being a low cost way to provide a more comfortable driving experience, continuous advancements in EPS technology will further push the automotive transceivers industry evolution for delivering more enhanced products. Today, EPS allows for the integration of automated driving in combination with increased safety for the driver. It has been reported that 90% of all traffic accidents are caused by human errors, which can be reduced by automated driving features. Also, EPS has lesser weight as compared to conventional steering systems and some EPS offerings, like Bosch’s Servolectric, being up to 20% lighter.
Global automobile manufacturers are installing EPS in their current and upcoming models to improve driver safety and include added features. Recently, Honda unveiled a new Sport model of its HR-V lineup for Europe which has Honda’s Agile Handling Assist system, a specific steering feature. It utilizes a variable EPS for adjusting the amount of feel through the wheel based on steering angle and speed. Honda claims the system delivers a steady and smoother response for different steering angles, making it safer to drive. As increasing number of vehicles are produced with similar systems incorporated within them, the automotive transceivers market can be expected to register a higher growth rate from the chassis and safety segment.
Speaking further, the car has rear parking sensors and camera for assisting the driver, and this camera is also connected to the EPS for enabling blind spot detect function to reduce the possibilities of sideswipe collisions on roads having multiple lanes. Such a combination of different safety technologies in a vehicle signifies the potential of the automotive transceivers industry for boosting the advancement of these functions. Experts have predicted that efficient and proper use of ADAS functions can reduce all vehicle crasher by nearly 40% and all traffic deaths by almost 30%, displaying the necessity of ADAS in all future vehicles.
The automotive transceivers market is characterized by the presence of small and large players, including Infineon Technologies, NXP Semiconductors, Texas Instruments, Broadcom, Inc. and Cypress Semiconductor Corporation.
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Some Point from Table of Contents:
TABLE 1 Global automotive transceivers industry 360º synopsis, 2013 - 2024
TABLE 2 Global automotive transceivers market, 2013 - 2017 (USD Million)
TABLE 3 Global automotive transceivers industry, 2018 – 2024 (USD Million)
TABLE 4 Global automotive transceivers industry, 2013 - 2017 (Million Units)
TABLE 5 Global automotive transceivers industry, 2018 – 2024 (Million Units)
TABLE 6 Global automotive transceivers industry, by region, 2013 - 2017 (USD Million)
TABLE 7 Global automotive transceivers market, by region, 2018 - 2024 (USD Million)
TABLE 8 Global automotive transceivers industry, by region, 2013 - 2017 (Million Units)
TABLE 9 Global automotive transceivers industry, by region, 2018 - 2024 (Million Units)
TABLE 10 Global automotive transceivers industry, by protocol, 2013 - 2017 (USD Million)
TABLE 11 Global automotive transceivers market, by protocol, 2018 - 2024 (USD Million)
TABLE 12 Global automotive transceivers market, by protocol, 2013 - 2017 (Million Units)
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