The global in-vehicle networking market is projected to exhibit a significant growth, at a CAGR of around 6.6%, during the forecast period. The market is driven by the rising environmental concerns and increasing government support, electric mobility is expanding at a rapid pace across the globe. The market players and the governments are pushing the plan for rolling out EVs and hybrid vehicles on road. According to the International Energy Agency (IEA), the global electric car fleet has hit 5.1 million marks in 2018, which is an increase of around 2 million from 2017. Moreover, in the same year, electric two-wheeler stock accounted for a total of 260 million and the electric bus fleet size was 460,000.
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Apart from this, the transportation sector also witnessed an impressive number of EVs for freight transport. The fleet size of EVs deployed by the sector reached over 250,000 units in 2018. Governments of several nations are focusing on the development of infrastructure to roll-out the EVs to curb the rising pollution level and progress along with sustainable development. For instance, in July 2019, the Government of India reduced Goods and Service Tax (GST) on electric vehicles from 12% to 5%. In April 2019, the Indian government launched the second phase of FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme to boost the EVs sales in the country.
The government has allocated around $1.4 billion to boost EVs sales in the country for over a period of three years from April 2019. This would lead to an expansion of the country’s EVs fleet size in the near future. According to the IEA, India reported around 100,000 two-wheeler EVs sales over 2018-19 which led the country’s two-wheeler EV fleet size to hit 600,000 in 2019. Moreover, electric three-wheeler sales in India reached over 630,000 units in 2018-19. Under the FAME program, purchase subsidies for eight electric three-wheeler models will be provided, hence further supporting the growth of the in-vehicle networking market.
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EV30@30 Campaign was launched at the 8th Clean Energy Ministerial meeting in 2017 with an intent to accelerate the deployment of EVs across the globe. The campaign sets a target for all Electric Vehicle Initiatives (EVI) members to deploy 30% EVs in the total vehicle fleet size (except two-wheelers) market by 2030. Eleven countries including China, Japan, and India have endorsed the campaign, which is also a supporting factor for the EV market growth, which in turn, will offer growth to the in-vehicle networking market. IEA estimates that, in the EV30@30 campaign, nearly 29% of all vehicles sold in India will be electric. Further, in the EV30@30 Scenario, EVs make up 70% of all vehicle sales in China in 2030 (42% excluding two/three-wheelers) and around 37% of total vehicle sales in Japan will be electric in 2030.
Global In-Vehicle Networking Market-Segmentation
By Connectivity Standard
- Ethernet
- Controller Area Network (CAN)
- FlexRay
- Local Interconnect Network (LIN)
- Others (MOST and Radio Frequency (RF))
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
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