The global Next Generation In-vehicle Networking (IVN) Market is estimated to be valued at US$ 1553.42 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Next Generation In-vehicle Networking (IVN) refers to advanced in-vehicle communication networks that facilitate faster and more reliable transmission of data between electronic control units inside vehicles. IVN assists in managing various Electronic Control Units (ECUs) inside modern vehicles and enables integration of advanced technologies such as advanced driver assistance systems, infotainment systems, and telematics systems. The growing adoption of autonomous and semi-autonomous vehicles is driving the demand for IVN as it can handle large volume of data transfer between ECUs and ensure reliable and secure communication.
Market key trends:
The key trends in the Next Generation In-vehicle Networking (IVN) market include rising focus on improving network bandwidth, increasing adoption of Ethernet for in-vehicle communication, and development of 5G technology to enable vehicle to everything (V2X) communication. The demand for higher network bandwidth is driven by the integration of advanced technologies that require faster data transmission rates. Major automakers are increasingly adopting Ethernet due to its benefits such as flexibility, scalability, and compatibility with existing IT infrastructures. Additionally, 5G technology is expected to facilitate direct communication between vehicles and infrastructure, which will enable several advanced applications related to vehicle safety and autonomous driving.
Threat of new entrants: The threat of new entrants is moderate as the market requires high R&D investment and established distribution channels. However, growing demand provides opportunities.
Bargaining power of buyers: The bargaining power of buyers is high as the market has many options but buyers demand advanced connectivity and security features.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as some components have few substitute sources but suppliers still depend on OEMs.
Threat of new substitutes: The threat of new substitutes is high with continuous technology advancements in automotive connectivity and adoption of 5G networks.
Competitive rivalry: Intense competition exists among established players.
The Global Next Generation In-Vehicle Networking (IVN) Market Size is expected to witness high growth, exhibiting a CAGR of 8.4% over the forecast period, due to increasing connected vehicles and advanced safety features.
Regional analysis – North America dominate the market currently due to high vehicle production and early adoption of advanced technologies. Asia Pacific is expected to grow at the fastest pace due to increasing vehicle production in China and India.
Key players operating in the Next Generation In-vehicle Networking (IVN) are Acome, Aricent Inc, Agilent Technologies, AISIN AW Co Ltd, Analog Devices, Broadcom, Bosch, Daimler AG, Freescale, Harman, NXP, Renault SA, Renesas, Visteon, Wurth Elektronik, Yazaki Corporation. Key players focus on technological innovations to integrate advanced connectivity and security.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it