Firms offering smart architecture to manufacturers of electric vehicles to capture revenues in long-term; massive demand for multi-domain controllers in Europe
Wilmington, Delaware, United States, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - In-depth multi domain controller market growth analysis reiterates that automotive electrification is a major pivot for need for deploying smart vehicle architecture and software in ensuring safety and improving comfort. Slew of new ADAS (advance driver assistance systems) features in automotive applications have nudged OEMs and vehicle manufactures to adopt designs that integrate multiple multi-domain controller types. The multi-domain controller market size is projected to reach worth of US$ 18.78 Bn by 2031.
ADAS applications hold a key multi-domain controller market share. New-age integrated ADAS domain controllers are effective in collecting and processing vast amount of data from sensors and cameras in real-time. Especially in luxury and premium vehicles, OEMs and automotive companies are reinforcing these as a key value proposition for promoting safety and comfort for passengers looking for autonomous driving. Stridently, penetration of ADAS in all vehicles will catalyze creation of promising opportunities in multi-domain controller market.
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Key Findings of Multi-domain Controller Market Study
Electrification of Vehicles Generates Incredible Growth Prospects: Rise in electrification of vehicles is spurring efforts of firms in the automotive sector to commercialize electric vehicles (EVs). This is a key underpinning for deployment of multi-domain controllers in the vehicle architecture. Need for elegant but simple designs to integrate LIDAR, sensors, cameras, and IoT elements has extended the horizon for players in the multi-domain controller market.
Widespread Adoption of ADAS in Various Vehicles to Propel Revenue Generation: Penetration of ADAS features notably in passenger vehicles is a key enabler for improving the safety and comfort for passengers in all vehicles. Of note, chassis domain controllers are rapidly gaining adoption, thereby generating substantial revenue streams in multi-domain controller market. Growth prospects are also invigorated by growing demand for autonomous vehicles globally in recent years. Indeed, the autonomous vehicles segment is highly lucrative, engendered by massive R&D in self-driving cars.
Industry Players Geared Toward Reducing Costs of Deployment: Focus on reducing the cost of deployment of multi-domain controllers as well as on boosting their performance aspects will bring new investments by automotive electronics companies. Many key OEMs in the multi-domain controller market are collaboratively working with automotive suppliers in a bid to reduce the cost and complexity of advanced driver assist system (ADAS) especially for their propriety driver monitoring systems.
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Multi-domain Controller Market: Key Drivers
Rise in production of vehicles around the world over the years, in conjunction with emphasis on making them safer and more comfortable, has continuously enriched the prospects of the multi-domain controller market. Increasing trend of adoption of complex automotive electronics to improve the performance of automobile is spurring R&D in multi-domain controllers.
Growing trend of vehicle electrification, riding back of rising electric vehicle adoption, is expanding the avenues in multi-domain controller market. Of note, integration of AI, machine learning algorithms, and IoT (internet of things)-enabled technologies in automotive systems, will enrich the outlook of the multi-domain controller market.
Multi-domain Controller Market: Regional Growth Dynamics
Europe is a remarkably lucrative region in multi-domain controller market and currently holds a major share. Strides in the production and sales of premium vehicles and rising penetration of ADAS in passenger vehicles have accelerated uptake of products. Furthermore, the trend of individual mobility gathering momentum among the elderly and differently-abled population has generated lucrative opportunities, which globally prominent vehicle manufacturers captured into in recent years.
Asia Pacific is anticipated to hold a key share of the global multi-domain controller market during the forecast period (2022–2031). Rise in sales of passenger vehicles and increasing trend of ADAS integration in various vehicles will propel the prospects in the regional market.
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Multi-domain Controller Market: Key Players
Some of the prominent companies profiled in this study are Texas Instruments Incorporated, ZF Friedrichshafen AG, Autoliv Inc., KRONO-SAFE, Mobileye, NVIDIA Corporation, Delphi Technologies, Sasken Technologies Ltd., Continental AG, Robert Bosch GmbH, Visteon Corporation, and TATA ELXSI.
Multi-domain Controller Market Segmentation
Advance Driver Assistance System (ADAS) & Safety
Engine & Powertrain
Chassis & Body Control System
Light Commercial Vehicles
Heavy-duty Commercial Vehicles
IC Engine Vehicles
Battery Electric Vehicles
Hybrid Electric Vehicles
Middle East & Africa
Russia & CIS
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