Press release
Global Automotive Connectivity Control Unit Market Projected to Surpass $214.81 Billion by 2029 with 21.7% Annual Growth
Automotive Connectivity Control Unit Market
The automotive connectivity control unit market is anticipated to experience significant growth due to the escalating demand for automobiles. This surge in demand is a result of factors such as population expansion, economic progress, changing consumer behaviours, and regulatory transformations. The use of an automotive connectivity control unit is vital in modern vehicles as it ensures efficient communication and harmonization between various in-car systems and outside networks, thus enhancing safety, productivity, and the overall user experience. Take for example the figures published in June 2023 by the Department for Transport, a ministerial department in the UK. By the end of December 2022, the registered number of plug-in vehicles in the UK was 1.114 million, indicating a 49% rise from December 2021's totals of 0.748 million. By the end of December 2022, the UK had a total of 40.7 million licensed vehicles, a 1.0% increase from December 2021. Hence, the mounting demand for automobiles is fueling the growth of the automotive connectivity control unit market.
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What growth opportunities are expected to drive the automotive connectivity control unit market's CAGR through 2034?
The market size of the automotive connectivity control unit has seen a spectacular rise in the last few years. Its growth is anticipated to go from $80.32 billion in 2024 to $98.04 billion in 2025, marking a compound annual growth rate (CAGR) of 22.1%. Factors contributing to the expansion in the historic period include increased preferences for in-vehicle connectivity solutions, developments in 5G technology within the automotive sector, a surge in cloud-based applications for automotive uses, enhanced vehicle-to-infrastructure (v2I) communication, and an intensified focus on energy efficiency as well as sustainability.
The market for automotive connectivity control units is projected to witness significant expansion in the forthcoming years, potentially reaching a worth of $214.81 billion by 2029, with a compound annual growth rate of 21.7%. The predicted growth in this time frame is informed by factors such as the growing consumer interest in connected car functionalities, an increased uptake of autonomous and electric vehicles, and the imposition of governmental regulations that necessitate vehicle connectivity. Other contributing factors include the evolving shift towards vehicle-to-everything (V2X) communication and heightened security and safety requirements for vehicles. Assets shaping the forecast period include the integration of Internet of Things (IoT) and intelligent devices into vehicles, the demand for advanced driver-assistance systems (ADAS), the incorporation of infotainment and telematics systems, the need for real-time data transmission and analysis, as well as the application of artificial intelligence and machine learning in automotive infrastructures.
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What are the emerging trends shaping the future of the automotive connectivity control unit market?
Leading enterprises in the automotive connectivity control unit marketplace are pioneering innovative solutions like telematics control units to cater to customer needs more effectively through advanced features. Essentially, a telematics control unit is a digital device that is installed in vehicles. It manages and controls telematics services by gathering, storing, and sending vehicle information to external servers. For example, in February 2024, Harman, an American electronics firm, collaborated with Qualcomm Technologies, a technology company from the US, to introduce the Harman Ready Connect 5G Telematics Control Unit (TCU). This Ready Connect 5G TCU symbolizes a notable progression in automotive connectivity, delivering lavish in-car experiences to consumers, while also minimizing time to market and engineering efforts for car manufacturers. It is crafted to cater to the changing demands of the present automotive market, offering unmatched connectivity, superior performance, upgradeability, scalability, and user-friendliness. It utilizes Qualcomm's Snapdragon Modem-RF Gen 2 system to provide a flawless blend of performance, dependability, and advanced features.
Which growth-oriented segments of the automotive connectivity control unit market are leading the industry's development?
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
Subsegments:
1) By External Vehicle Communication Control: Vehicle-to-Vehicle (V2V) Communication Control Units, Vehicle-to-Infrastructure (V2I) Communication Control Units, Vehicle-to-Everything (V2X) Communication Control Units
2) By In-Vehicle Communication Control: In-Vehicle Networking Control Units, In-Vehicle Infotainment Control Units, Telematics Control Units
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What regions are leading the charge in the automotive connectivity control unit market?
North America was the largest region in the automotive connectivity control unit market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive connectivity control unit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the automotive connectivity control unit market?
Major companies operating in the automotive connectivity control unit market are Robert Bosch GmbH, LG Electronics, Panasonic Corporation, ZF Friedrichshafen AG, Continental AG, Magna International Inc., AISIN SEIKI Co. Ltd., Mitsubishi Electric Corporation, Valeo SA, Aptiv PLC, STMicroelectronics, Infineon Technologies AG, Magneti Marelli S.p.A., HARMAN International Industries Inc., Garmin Ltd., Visteon Corporation, TomTom International B.V., Alpine Electronics Inc., Clarion USA, Pioneer Corporation, NVIDIA Corporation, Wind River, Hyundai Autron
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What Is Covered In The Automotive Connectivity Control Unit Global Market Report?
•Market Size Forecast: Examine the automotive connectivity control unit market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive connectivity control unit market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive connectivity control unit market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive connectivity control unit market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive connectivity control unit market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive connectivity control unit market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive connectivity control unit market.
•Competitive Landscape: Review strategic developments in the automotive connectivity control unit market, including expansions, agreements, and new product launches.
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