In-Vehicle Networking Chipset Market Trends

Growth Drivers

• Growing Demand for Electric Vehicles - In 2022 more than 9 million EVs were sold, accounting for over 13% of total new automobile sales—a significant increase from about 8% in 2021. Hence, in-vehicle networking chipset demand is being driven by the explosive expansion of electromobility. The development of chips in the electric vehicle (EV) industry, along with its precious metals, gives designers the ability to power the battery systems of their vehicles and enable features including firmware upgrades, which have become more important in today's automotive industry. In electric vehicles (EVs), sophisticated electronics and semiconductor chips may improve battery performance by pushing the battery towards higher voltages and more efficient onboard chargers. The automobile designer may promote quick and effective EV charging using a portfolio of real-time microcontrollers, isolated gate drivers, and fully integrated GaN power devices. Hence, the in-vehicle networking chipset market revenue for in-vehicle networking chipset is predicted to grow.
• Surge in Adoption of Smartphones - Based on projections, about 5 billion people use smartphones worldwide as of 2023, or over 84% of the global population. Hence, the adoption of smartphones is also growing in vehicles owing to the development of in-vehicle networking chipset. This has further given luxurious touch to the vehicles. Bluetooth connectivity allows smartphones to be coupled with the car's infotainment system. The individual may utilize the infotainment system to utilize phone capabilities by pairing their smartphone with the system. Using the infotainment system, this function enables customers to control incoming, outgoing, and conference calls. In addition, users can mark favorite contacts, read SMSs, and examine their phone contact list and call logs.
• Rise in Need to Track CO2 - An extended period of driving leads the cabin's CO2 concentration to increase and the oxygen supply to decrease due to respiration. Weariness and sleepy driving are consequent results of O2 depletion. CO2 thus lowers O2 levels, makes drivers tired, and affects their judgement and muscular coordination. Consequently, an autonomous system to detect air pollution in cars while they are travelling as well as enhance air quality is required to improve fatigue prevention strategies.

Challenges

• High Cost in Integrating In-Vehicle Networking Chipset - The advancement of technology also brings in huge cost for manufacturing which further also increase the end product price. As a result, the in-vehicle networking chipset market revenue is poised to hinder.
• Risk of Cybersecurity - Like numerous of our other smart, connected IoT gadgets, cars actually offer a lot of potential sources of security risk due to the quantity of hardware and software content that enables increased automation. One of the threats is to the electronic control units (ECUs). Cars can have additional security flaws besides ECUs that could let an attacker move seamlessly from one internal component of the car to another. The infotainment system, for instance, is linked to cellular networks to perform functions including remote vehicle diagnostics, location-based roadside assistance, and firmware upgrades for automobiles from automakers. Hence, the market expansion is expected to be restricted over the coming years.
• Lack of Awareness Among People Regarding Its Use