Global Automotive Data Cables Market to Witness Strong Growth, Expected to Reach $11.01 Billion by 2027

LANDON, GREATER LANDON, UK, October 30, 2023 /EINPresswire.com/ -- The global automotive data cables market, which stood at $6.42 billion in 2022, is projected to grow to $11.01 billion by 2027, representing a robust compound annual growth rate (CAGR) of 11.1%. Despite the challenging geopolitical climate stemming from the Russia-Ukraine conflict and the persistent impact of the COVID-19 pandemic, the market continues to demonstrate resilience, fueled by the mounting adoption of electric and hybrid vehicles and the ongoing focus on product innovation by key market players.

Market Segmentation and Key Players

• Cable Types: 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
• Vehicle Types: Passenger Vehicles, Commercial Vehicles
• Applications: Safety and Advanced Driver-Assistance Systems (ADAS), Body Control and Comfort, Infotainment and Communication, Powertrain

Notable market players such as Sumitomo Electric Industries Ltd, Prysmian Group, and BorgWarner Inc. are actively engaged in developing innovative products to maintain their market position and cater to the evolving needs of the automotive industry.

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Strategic Acquisitions and Product Innovation: Key Market Trends

The automotive data cables market is witnessing significant trends, with Japan Aviation Electronics Industry Ltd introducing the MX74 Series, a cutting-edge connector compliant with the automotive Ethernet standard IEEE 100BASE-T1. This innovation contributes to vehicle weight reduction through its compatibility with unshielded twisted pair (UTP) wires, thereby enhancing overall performance.

Furthermore, strategic acquisitions such as Torque Capital Group's acquisition of Cable Manufacturing and Assembly Inc have bolstered cable manufacturers, providing them with additional resources and amplifying their growth prospects in the automotive data cables market.

Geographical Dynamics: Asia-Pacific Takes the Lead
Asia-Pacific emerged as the dominant region in the automotive data cables market in 2022, driven by escalating demand and significant investments in the automotive sector. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities across major geographies.

Access the complete report for a comprehensive analysis of the global automotive data cables market:
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Automotive Data Cables Global Market Report 2023 from TBRC covers the following information:

1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Automotive Data Cables Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on automotive data cables market size, automotive data cables market drivers and trends, automotive data cables market major players, automotive data cables market competitors' revenues, market positioning, and automotive data cables market growth across geographies. The automotive data cables market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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