Automotive CAN Transceivers Market Size, Share, Growth Analysis, By Type(High-speed CAN transceivers, low-speed CAN transceivers, and fault-tolerant CAN transceivers), By Application(Passenger cars, commercial vehicles (trucks, buses, etc.)), By Region - Industry Forecast 2024-2031

Global Automotive CAN Transceivers Market size was valued at USD 4 Billion in 2022 and is poised to grow from USD 4.28 Billion in 2023 to USD 7.29 Billion by 2031, growing at a CAGR of 6.90% in the forecast period (2024-2031).

The global automotive CAN transceivers market is driven by several factors, including the increasing demand for safety features, the growing adoption of electric and hybrid vehicles, and the need for advanced connectivity and infotainment systems. The rising demand for safety features such as adaptive cruise control, lane departure warning, and automatic emergency braking is driving the need for sophisticated communication systems within vehicles. This, in turn, is boosting the demand for CAN transceivers, as they play a crucial role in enabling these safety features. Moreover, the increasing adoption of electric and hybrid vehicles is also fueling the growth of the automotive CAN transceivers market. These vehicles require advanced communication systems to manage their complex powertrains and battery systems. CAN transceivers are crucial components in these systems, as they allow the various ECUs to communicate with each other and with the driver.

One of the major restraints faced by the market is the high cost of development and manufacturing of these components. Additionally, the market is highly competitive, with several established players and new entrants vying for market share. Despite these challenges, the market is expected to witness several key trends in the coming years. One such trend is the increasing use of advanced materials and technologies to improve the performance and efficiency of CAN transceivers. Another trend is the growing adoption of CAN FD (Flexible Data Rate), which is an enhanced version of the CAN protocol that offers higher data transfer rates and improved flexibility.

US Automotive CAN Transceivers Market is poised to grow at a sustainable CAGR for the next forecast year.