The Automotive Connectivity Control Unit Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive Connectivity Control Unit Global Market Report 2024, The automotive connectivity control unit market size is expected to see exponential growth in the next few years. It will grow to $176.72 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The growth in the forecast period can be attributed to increasing consumer demand for connected car features, rising adoption of autonomous and electric vehicles, government regulations mandating vehicle connectivity, shift towards vehicle-to-everything (V2X) communication, enhanced vehicle safety and security requirements. Major trends in the forecast period include IoT and smart devices integration in vehicles, demand for advanced driver assistance systems (ADAS), integration of infotainment and telematics systems, need for real-time data transmission and analysis, and integration of AI and machine learning in automotive systems.
Growing demand for automobiles is expected to propel the growth of the automotive connectivity control unit market going forward. The increasing demand for automobiles is driven by a combination of population growth, economic development, evolving consumer preferences, and regulatory changes. An automotive connectivity control unit is crucial for modern vehicles as it enables smooth communication and integration between various in-car systems and external networks, thereby improving safety, efficiency, and the overall user experience. For instance, in June 2023, according to the vehicle licensing statistics published by the Department for Transport, a UK-based ministerial department, by the end of December 2022, the UK had 1.114 million licensed plug-in vehicles, marking a 49% increase from December 2021’s total of 0.748 million. At the end of December 2022, the UK had 40.7 million licensed vehicles, marking a 1.0% increase from December 2021. Therefore, the growing demand for automobiles is driving the growth of the automotive connectivity control unit market.
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The automotive connectivity control unit market covered in this report is segmented –
1) By Product Type: External Vehicle Communication Control, In-Vehicle Communication Control
2) By Vehicle Type: Passenger Vehicle Automotive Connectivity Control Unit, Light Commercial Vehicle Automotive Connectivity Control Unit, Heavy Commercial Vehicle Automotive Connectivity Control Unit
3) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Major companies operating in the automotive connectivity control unit market are developing innovative products, such as telematics control units, to better serve customers with advanced features. A telematics control unit is an electronic device installed in vehicles that manages and controls telematics services by collecting, storing, and transmitting vehicle data to external servers. For instance, in February 2024, Harman, a US-based electronics company, partnered with Qualcomm Technologies, a US-based technology company, to launch the Harman Ready Connect 5G Telematics Control Unit (TCU). The Ready Connect 5G TCU is a significant advancement in automotive connectivity, offering rich in-cabin experiences for consumers while reducing time to market and engineering efforts for automakers. It is designed to meet the evolving needs of today’s automotive market, providing unparalleled connectivity, performance, upgradability, scalability, and usability. It uses Qualcomm’s Snapdragon Modem-RF Gen 2 system to offer a seamless combination of performance, reliability, and cutting-edge features.
The automotive connectivity control unit market report table of contents includes:
1. Executive Summary
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32. Global Automotive Connectivity Control Unit Market Competitive Benchmarking
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