In-Vehicle Networking Chipsets Market- Rising Demand,Industry Trends & Revenue Growth by the end of 2029

Research Nester released a report titled In-Vehicle Networking Chipsets Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global in-vehicle networking chipsets market in terms of market segmentation by product type, application and region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The in-vehicle networking chipsets market is projected to grow with a significant CAGR during the forecast period, i.e., 2021-2029 on account of the increasing technological advancements, increasing concerns for vehicle safety and the rising sales of electric and hybrid cars. According to the International Energy Agency, in 2020, the global sales of electric cars reached up to 4.9 million, compared to 1.93 million in the year 2017.

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The market is segmented by product type into analog ICs, microcontrollers & microprocessors, logic ICs. Among these segments, the logic IC segment is anticipated to hold the largest share by the end of 2021 in the networking chipsets market owing to upsurge the sales of luxury cars.

On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the in-vehicle networking chipsets market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Europe captures the second major market shares. This can be attributed to the presence of major luxury car manufacturers including Volkswagen, AUDI, Porsche, and BMW.

Increase in Cases of Road Traffic Injuries, and Concern to Vehicle Safety is to Drive Market Growth

According to World Health Organization roughly 1.35 million people die every year in road accidents. Moreover, 93% of the world accidents on roads occur in middle and low income countries, even though these countries have around 60% of the world’s vehicles. 

Safety is one of the primary concerns of the consumer purchasing a vehicle. As the data states, road accidents are one of the major reasons for death, among the other reasons. Additionally, the rising concerns of vehicle safety in recent years are also expected to boost the market growth. With these chips’ use, vehicle safety can be increased as these chips offer detailed information regarding maintenance level, gas level, and battery level and give various warnings, which are achieved with sensors present in the car.

This report also provides the existing competitive scenario of some of the key players of the global in-vehicle networking chipsets market which includes company profiling of Infineon Technologies (ETR: IFX), ON Semiconductor (NASDAQ: ON), Robert Bosch GmbH (BSWQY: US), NXP Semiconductors (NASDAQ: NXPI), Microchip Technology Incorporated (NASDAQ: MCHP), Texas Instruments Incorporated (NASDAQ: TXN), NVIDIA CORPORATION (NASDAQ: NVDA), STMicroelectronics (EPA: STM), Renesas Electronics (TYO: 6723). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global in-vehicle networking chipsets market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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Research Nester is a one-stop service provider, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives to make wise decisions for their future investment and expansion by providing them qualitative market insights and strategies while avoiding future uncertainties. We believe in honesty and sheer hard work that we trust is reflected in our work ethics. Our vision is not just limited to gain the trust of our clients but also to be equally respected by our employees and being appreciated by the competitors.

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