In-Vehicle Networking Chipset Market Segmentation:
Vehicle Type Segment Analysis
In-vehicle networking chipset market from the passenger vehicles segment is projected to capture the largest revenue share of about 60% over the forecast period. The major element to drive the expansion of this segment is growing demand for passenger vehicles. For instance, the world's sales of passenger cars increased by almost 2 percent in 2022 to reach over 56 million. In recent years, passenger cars have been increasingly popular among drivers as a result of attributes including their fashionable styling, small size, and affordability. In a number of developed nations passenger vehicles are the most popular form of transportation. As people's purchasing power rises, the number of these cars is rising in emerging nations. Furthermore, with the growing integration of in-vehicle networking chipset this segment is expected to grow even further hence dominating the market revenue.
Application Segment Analysis
The powertrain segment is predicted to hold 30% share of the global in-vehicle networking chipset market during the coming years. To minimize pollutants and save energy consumption, the engine management unit of every road vehicle must control the powertrain. Nearly 29% of greenhouse gas emissions come from transportation (source), and stricter emissions laws are being enforced to lessen the impact on the environment. Hence, further with the employment of in-vehicle networking chipset this process is predicted to become more efficient.
Our in-depth analysis of the global market includes the following segments:
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