Multi Domain Controller Market by Vehicle Type, Application, and Region – Global Forecast to 2025
Added: (Fri Dec 14 2018)
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The Multi Domain Controller Market is projected to grow at a CAGR of 25.7%, by value, during the forecast period. It is estimated to be USD 1.3 billion by 2018 and is projected to reach USD 20.2 billion by 2030. The market growth is primarily driven by factors such as rapid technological changes and increasing focus on self-driving vehicles.
Owing to the emergence of newer technologies in the automotive industry along with the growing demand for electric cars, the multi domain controller market has started to prosper. Regional adoption of these technologies depends on government norms and customer preferences. Moreover, vehicle manufacturers are taking steps in order to reduce the vehicle weight by incorporating integrated and more efficient electronics, thereby inflating the growth of the multi domain controller market. The North American multi domain controller market is growing at the fastest rate followed by Europe, Asia Pacific, and the RoW. North America is estimated to be the fastest growing market because of the region’s fast advancements on the technology front and the governing bodies pushing OEMs to make smarter vehicles. The NHTSA is currently focusing a lot of their attention on modern technologies such as cybersecurity and ADAS.
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The ADAS & Safety segment of the multi domain controller market, by application, is expected to grow at the highest CAGR during the forecast period. Governments, regulatory bodies, and associations are keen on making automobiles safer for the occupants, pedestrians, and the surroundings. Thus, stringent passenger safety regulations have been implemented in many countries. Developing countries such as China, Brazil, and India are currently formulating mandates for passenger safety in vehicles. These factors are expected to trigger the adoption of the ADAS & Safety segment, which would create an opportunity for the multi domain controller and its component providers.
The BEV segment is estimated to be the fastest growing multi domain controller market, in terms of value. Factors such as stringent emission norms, the rise in ecological imbalance due to excessive carbon emissions, and reduced energy consumption are driving the usage of BEVs. Developed nations such as the US, Canada, the UK, and Germany are focusing heavily on electric vehicles. The US and China are the largest markets, in terms of electric vehicle sales. In the UK, the government is planning to ban all diesel and petrol vehicles by 2030. Thus, the demand for electric vehicles is projected to increase. China has the highest sales volume of electric cars globally, followed by the United States. Due to all these reasons, the multi domain controller providers can focus more on this segment as they can expect a huge demand across the globe.
With the automotive industry shifting from hardware- to software-dependent vehicles, the software now constitutes 10% of the total content of the vehicle, in the case of premium cars. Software companies are, thus, taking the front seat in the automotive industry, leaving their previous Tier II and Tier III stature behind. Thus, it will be beneficial for multi domain controller suppliers to study and provide ‘Hypervisor’ or software virtualization solutions that enable the host operating systems to run various vehicle features on a single platform.
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