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

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)

The Asia Pacific automotive transceivers market is expected to grow from US$ 3,370.64 million in 2022 to US$ 5,254.84 million by 2028. It is estimated to grow at a CAGR of 7.7% from 2022 to 2028.

Growing Adoption of Self-Driving or Autonomous Vehicles to Provide Lucrative Opportunities for The Growth of The Asia Pacific Automotive Transceivers Market

Digitization and automation have revolutionized the automotive sector. Amid this revolution, diverse mobility, autonomous driving, electrification, and connectivity have emerged as major trends in this sector. Connectivity and information-sharing are the key functions enabling self-driving/autonomous vehicles. Connected and autonomous vehicles have network access to share information on tire pressure, mechanical systems, navigation, geolocation, and cameras. The data received on mechanical state, vehicle performance, and driver’s information are used to enhance the safety of vehicle occupants, along with making the journey more enjoyable. Automotive transceivers facilitate the sharing of these data and information. With the help of transceivers, autonomous vehicles or self-driving cars can communicate with one another and change routes based on traffic, accidents, or construction work in progress, which helps lower congestion on roads. Moreover, automated vehicles sense the environment and navigate around obstacles, and obey traffic laws with the help of technologies such as radar, sonar, lidar, GPS, and infrared sensors embedded with transceivers in the vehicles. Hence, the projected increase in the manufacturing and adoption of autonomous vehicles/self-driving cars is likely to provide lucrative opportunities for the growth of the Asia Pacific automotive transceivers market in the coming years.

Asia Pacific Automotive Transceivers Market Overview

In Asia Pacific, the rapidly growing economy and the increasing disposable income of middle-class consumers are majorly responsible for a surge in demand for vehicles. Automotive transceivers are deployed in the vehicles for in-vehicle connectivity and communication to enhance the safety and comfort of the passenger. In addition, the growth prospects in sales of vehicles are anticipated to propel the usage of automotive transceivers. As per the International Organization of Motor Vehicle Manufacturers, the sales of new registered vehicles increased from 41.28 million units in 2020 to 43.70 million units in 2021, registering a growth rate of 6%. Thus, such rising sales of vehicles are increasing the demand for automotive transceivers, which is fueling the Asia Pacific automotive transceivers market growth. Also, factors such as increasing market penetration of premium cars and safety installations in the vehicle are boosting the demand for automotive night vision systems and driver monitoring systems, which is further creating the demand for transceivers for exchanging signals at a faster rate.

Technological advancements enhance safety in cars that helps mitigate the accident and death rate. Autonomous driving assists have become available from 2021 in premium mass market models such as Mahindra XUV700 and MG Astor. Thus, many companies are incorporating ADAS in upcoming models; for example, Hyundai announced its plan to offer ADAS in its premium lineup by the end of 2022. In addition, in July 2021, Neusoft Reach introduced a next-generation autonomous driving central computing platform, which supports 16-channel high-definition cameras, radar, and ultrasonic and multi-channel lidar to achieve a 360° view of the whole vehicle. Also, in May 2021, Intel Corp’s Mobileye and ZF Friedrichshafen AG, a German supplier, had planned to develop advanced safety systems for upcoming Toyota Motor Corp vehicles. Thus, such developments in the advancements of the connectivity technology for enhancing in-vehicle communication are augmenting the demand for automotive transceivers in the automotive industry, which is bolstering the Asia Pacific automotive transceivers market growth.

Asia Pacific Automotive Transceivers Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Automotive Transceivers Market Segmentation

The Asia Pacific automotive transceivers market is segmented into protocol, application, vehicle type, and country.

Based on protocol, the Asia Pacific automotive transceivers market is segmented into CAN, LIN, FLEXRAY, and others. The CAN segment held the largest market share in 2022.

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 the largest market share in 2022.

Based on vehicle type, the Asia Pacific automotive transceivers market is bifurcated into passenger vehicles, and commercial vehicles. The passenger vehicles segment held the larger market share in 2022.

Based on country, the Asia Pacific automotive transceivers market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the market share in 2022.

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 are the leading companies operating in the Asia Pacific automotive transceivers market.

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