What Transformation Has the Automotive Data Cables Market Undergone?
The automotive data cables market has seen considerable growth due to a variety of factors.
•In recent times, there has been a significant growth in the automotive data cables market. This market is projected to expand from its current value of $7.99 billion in 2024 to an estimated $8.89 billion in 2025, with a compound annual growth rate (CAGR) of 11.3%.
This previous growth period can be accredited to factors such as the introduction of innovative automotive systems, the gradual shift towards electric and hybrid vehicles, the ever-increasing demand for in-vehicle connectivity, the implementation of regulatory standards concerning vehicle safety, and the utilization of advanced communication protocols.
How Will The Automotive Data Cables Market Size Evolve In The Foreseeable Future?
The automotive data cables market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of automotive data cables is predicted to experience fast-paced growth, reaching $13.58 billion in 2029 with a compound annual growth rate (CAGR) of 11.2%.
Factors contributing to this projected growth during the forecast period include the adoption of augmented reality (AR) in automobiles, the need for agile and sturdy designs, the focus on vehicle-to-everything (v2x) communication, the proliferation of advanced driver assistance systems (ADAS), and the establishment of 5G connectivity in vehicles. The forecast period will also see key trends such as high-speed and high-bandwidth data cables, next-gen data cables for AI integration, modular and scalable cable solutions, and intelligent data cables with self-diagnostics.
Which Drivers Are Accelerating Growth In The Automotive Data Cables Market?
The automotive data cable market is anticipated to increase due to the rising preference for hybrid and electric vehicles. Electric vehicles are defined as those that utilize an electric motor powered by a battery, which can be charged from an external source. In contrast, hybrid vehicles have an engine powered by both a battery and internal combustion alongside one or more electric motors. Electric and hybrid cars often incorporate advanced connectivity features, such as vehicle-to-vehicle communication, telematics, and in-car entertainment systems, which rely on the effective and reliable data transmission facilitated by automotive data cables. As per the U.S. Energy Information Administration, a government agency in the US, the proportion of battery-powered electric vehicles (BEVs) among new light-duty vehicle sales hit 17.7% in the third quarter of 2023. Furthermore, BEVs represented 16.0% of all new vehicle sales in the same year, an increase from 12.5% in 2022 and 9.0% in 2021. Thus, the escalating adoption of electric and hybrid vehicles is fueling the growth of the automotive data cable market.
What Are The Core Segments Of The Global Automotive Data Cables Market?
The automotive data cables market covered in this report is segmented –
1) By Cable: Controller Area Network (CAN), Low Voltage Differential Signaling (LVDS) Or High Speed Data (HSD), FlexRay, Ethernet, Controller Area Network Flexible Data-Rate (CAN-FD), Coaxial Cables
2) By Vehicle: Passenger Vehicles, Commercial Vehicles
3) By Application: Safety And Advanced Driver-Assistance Systems (ADAS), Body Control And Comfort, Infotainment And Communication, Powertrain
Subsegments:
1) By Controller Area Network (CAN): Standard CAN, CAN FD (Flexible Data-Rate)
2) By Low Voltage Differential Signaling (LVDS) Or High Speed Data (HSD): Standard LVDS, Enhanced LVDS, HSD For Infotainment, HSD For Advanced Driver Assistance Systems (ADAS)
3) By FlexRay: Standard FlexRay, FlexRay With Time Division Multiple Access (TDMA)
4) By Ethernet: Automotive Ethernet (100BASE-T1), 1000BASE-T1
5) By Controller Area Network Flexible Data-Rate (CAN-FD): Standard CAN-FD, High-Speed CAN-FD
6) By Coaxial Cables: Standard Coaxial, High-Frequency Coaxial
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Which Emerging Trends Are Reshaping The Automotive Data Cables Market Size?
The rise of product development is a significant trend taking shape in the car data cable market. Predominant organizations involved in the car data cable market are introducing ingenious products to maintain their market standing. For example, in June 2022, Japan Aviation Electronics Industry Ltd., an electrical firm based in Japan, unveiled the MX74 Series. This product is a high-grade, high-speed connector that abides by the automotive Ethernet standard IEEE 100BASE-T1. This innovation contributes to making car bodies more lightweight by cooperating with unshielded twisted pair (UTP) wires. The MX74 Series is available as an individual connector for the socket side.
Who Are the Key Players in the Automotive Data Cables Market?
Major companies operating in the automotive data cables market include:
• Sumitomo Electric Industries Ltd
• Prysmian Group
• Furukawa Electric Co Ltd.
• Belden Inc.
• Gebauer And Griller
• HUBER+SUHNER
• COFICAB Group
• ACOME Group
• Axon Cable
• UKB Electronics
• Rosendahl Nextrome
• Guangzhou ZhuJiang Cable Co. Ltd.
• Zhaolong Interconnect
• Condumex S.A. de C.V.
• Champlain Cable Corporation
• Sikora
• Coroplast Fritz Müller GmbH & Co. KG
• Waytek wire
• Caledonian Cable
• General Cable Technologies Corporation
• KBE Elektrotechnik GmbH
• LEONI AG
• ITC Thermo Cable GmbH
• Automotive Interconnect Solutions
• Flexon Cables
• Siechem
• RR Kabel
What are the Regional Insights into the Automotive Data Cables Market?
Asia-Pacific was the largest region in the automotive data cables market in 2024. The regions covered in the automotive data cables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
