Vehicle Networking Market Size

Vehicle Networking Market size is expected to reach USD 3.5 Billion by the end of 2036, growing at a CAGR of 10% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of vehicle networking was USD 1.1 Billion. The industry growth of vehicle networking is impelled by the adoption of 5G connectivity during the forecast period. There are already 296 commercial 5G networks in the world. By 2025, this number is estimated to rise to 438, indicating substantial global investments in 5G infrastructure.

In addition to this, factors that are believed to fuel the vehicle networking market growth include companies that manufacture semiconductors have been investing a lot of money in R&D to create goods with cutting-edge technologies. For instance, between 2020 and 2021, Analog Devices boosted their research & development spending from USD 1.05 million to USD 1.29 million. Automakers have also been investing more in automotive in-vehicle networking industries, offering lucrative prospects, in an effort to enhance vehicle design.

Frequently Asked Questions (FAQ)

Adoption of 5G connectivity and companies that manufacture semiconductors have been investing a lot of money in R&D are the major factors driving the growth of the vehicle networking market.

The market size of vehicle networking is anticipated to attain a CAGR of 10% over the forecast period, i.e., 2024-2036.

The major players in the market are Xilinx Inc., Nexar Ltd., Infineon Technologies AG, STMicroelectronics N.V., Spirent Communications plc, Continental AG, NVIDIA Corporation, Aptiv plc, Intel Corporation, and others.

The local interconnect network segment is anticipated to garner the largest market size by 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.

Vehicle Networking Market Size