The surging use of advanced driver-assistance systems (ADAS) and smart infotainment systems in automobiles and plunging cost of the ethernet technology are expected to drive the automotive ethernet market at a CAGR of 19.4% during the forecast period (2021–2030). Moreover, the soaring investments in the connected car field will aid the market revenue in rising from $1,932.7 million in 2020 to $9,885.1 million by 2030. In recent years, the increasing adoption of autonomous vehicles and connected features in conventional vehicles has become a prominent market trend.
The rising integration of safety and security systems is one of the key growth drivers for the market. Human errors, such as failure to pay attention, inappropriate speed, and inadequate distance from the vehicle in front, are responsible for most road accidents. To mitigate road accident cases, governments of various countries have issued numerous regulations regarding the integration of safety systems in automobiles. As a result of these regulations, automakers are installing connected safety and security solutions in their offerings, thereby creating a high requirement for internet connectivity.
No comments:
Post a Comment