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Key Factor Supporting Automotive Connectivity Control Unit Market Development in 2025: Rising Demand For Automobiles Fuels Growth In The Automotive Connectivity Control Unit Market
Automotive Connectivity Control Unit Market
How Large Will the Automotive Connectivity Control Unit Market Size By 2025?
In recent times, there has been an exponential surge in the market size of the automotive connectivity control unit. The growth is projected to increase from $80.32 billion in 2024 to $98.04 billion in 2025, with a compound annual growth rate (CAGR) of 22.1%. Factors contributing to this historical growth include an enhanced inclination towards in-vehicle connectivity solutions, the proliferation of 5G technology within the automotive industry, burgeoning cloud-based services applicable to automotive, enhanced vehicle-to-infrastructure (v2I) communication, and a broadened emphasis on energy efficiency and environmental sustainability.
How Big Is the Automotive Connectivity Control Unit Market Size Expected to Grow by 2029?
The market for automotive connectivity control units is projected to experience substantial expansion in the coming years, with its value expected to reach $214.81 billion by 2029, indicating a compound annual growth rate (CAGR) of 21.7%. This uptick in growth during this forecast period can be credited to an increased consumer inclination towards connected car functionalities, higher adoption rates of autonomous and electric vehicles, legislations enacted by governments enforcing vehicle connectivity, a shift towards vehicle-to-everything (V2X) communication, along with heightened requirements for vehicle safety and security. Key market trends to look out for within this forecast period encompass the integration of IoT and smart devices within vehicles, increased demand for advanced driver assistance systems (ADAS), assimilation of infotainment and telematics systems, need for real-time transmission and scrutiny of data, and the incorporation of AI and machine learning within automotive systems.
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Which Key Market Drivers Powering Automotive Connectivity Control Unit Market Expansion and Growth?
The expansion of the automotive connectivity control unit market is anticipated to be propelled by the rising demand for automobiles. This surge in demand is brought about by factors such as population growth, economic progress, changing consumer preferences, and modifications in regulations. The connectivity control unit for automotive use is integral for contemporary vehicles since it facilitates effective communication and integration amongst various car systems and outside networks, thereby enhancing safety, efficacy, and the user experience overall. For example, the Department for Transport, a ministry department based in the UK, reported in their vehicle licensing statistics in June 2023 that there were 1.114 million licensed plug-in vehicles in the UK by the close of December 2022. This marked a 49% growth from the previous year's total of 0.748 million in December 2021. In addition, from December 2021 to December 2022, the total number of licensed vehicles in the UK increased by 1.0%, reaching a total of 40.7 million. Hence, the expanding demand for automobiles is fostering growth in the automotive connectivity control unit market.
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Which Fast-Growing Trends Are Poised to Disrupt the Automotive Connectivity Control Unit Market?
Leading enterprises in the automotive connectivity control unit market are creating cutting-edge products like telematics control units to enhance their offerings with more advanced features. The telematics control unit is an electronic device found in vehicles, tasked with managing and operating telematics services via the collection, storage, and transmission of vehicle data to offsite servers. For instance, Harman, an electronics company from the US, collaborated with Qualcomm Technologies, a technology-based company also from the US, in February 2024 to introduce the Harman Ready Connect 5G Telematics Control Unit (TCU). The Ready Connect 5G TCU marks a significant technological shift in the realm of automotive connectivity. It provides lavish in-car experiences for consumers, while decreasing the time and engineering effort required for automakers to bring their products into the marketplace. This innovative device is perfectly suited to meet the ever-changing demands of the contemporary automotive market, offering unrivaled connectivity, performance, upgradeability, scalability, and user-friendliness. The Ready Connect 5G TCU employs Qualcomm's Snapdragon Modem-RF Gen 2 system, providing a perfectly balanced combination of efficiency, dependability, and revolutionary features.
What Are the Emerging Segments in the Automotive Connectivity Control Unit Market?
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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Who Are the Global Leaders 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
Which are the Top Profitable Regional Markets for the Automotive Connectivity Control Unit Industry?
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.
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