You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text.

NEW YORK, July 7, 2020 /PRNewswire/ -- Global Automotive Central Gateway Module Market 2020-2024 The analyst has been monitoring the automotive central gateway module market and it is poised to grow by $ 1.29 bn during 2020-2024 progressing at a CAGR of 7% during the forecast period. Our reports on automotive central gateway module market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. Read the full report: https://www.reportlinker.com/p05445232/?utm_source=PRN The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the increasing government support to promote EVs, growing importance of crash tests and NCAP ratings, and importance of automotive network security driving CGM adoption. In addition, increasing government support to promote EVs is anticipated to boost the growth of the market as well. The automotive central gateway module market analysis includes application segment and geographic landscapes The automotive central gateway module market is segmented as below: By Application Passenger cars Commercial vehicles By Geographic Landscapes APAC North America Europe South America MEA This study identifies the higher emphasis on traffic management to demand secure external communication as one of the prime reasons driving the automotive central gateway module market growth during the next few years. Also, adoption of high bandwidth automotive networks and development of integrated cybersecurity solution will lead to sizable demand in the market. The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our automotive central gateway module market covers the following areas: Automotive central gateway module market sizing Automotive central gateway module market forecast Automotive central gateway module market industry analysis Read the full report: https://www.reportlinker.com/p05445232/?utm_source=PRN About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [emailprotected] US: (339)-368-6001 Intl: +1 339-368-6001 SOURCE Reportlinker Related Links www.reportlinker.com

Answer: The Global Automotive Central Gateway Module Market is expected to grow by $ 1.29 bn during 2020-2024 progressing at a CAGR of 7% during the forecast period