Automotive Communication Technology Market Size

Automotive Communication Technology Market size was over USD 12.1 billion in 2023 and is anticipated to reach USD 82.8 billion by the end of 2036, growing at around 17.3% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of automotive communication technology is evaluated at USD 14.1 billion.

The growing usage of advanced driver assistance systems (ADAS) technologies has led to an alarming increase in automotive communication technology. Future-generation ADAS offers a reliable wireless network connection between vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I or V2X). Next-gen Hector launched in 2024 from MG Motor is integrated with autonomous level 2 ADAS comprising features such as lane function, speed assist system (SAS), front collision warning (FCW), adaptive cruise control (ACC), rear drive assist, and intelligent headlamp control. Additionally, automobiles using ADAS witnessed a safer automated driving experience and a reduced number of traffic accidents and causalities. For instance, the World Health Organization in 2023, stated that every year about 1.19 million people are met with road accidents, attributed to which, approximately 50 million people suffer from non-fatal injuries and several disabilities.