PUBLISHER: The Business Research Company | PRODUCT CODE: 1546405
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546405
An automotive connectivity control unit is an electronic component found in modern vehicles, responsible for overseeing and coordinating communication between various vehicle systems and external networks. This unit acts as a central hub for in-vehicle connectivity, facilitating the exchange of data among the vehicle itself, other vehicles (V2V), infrastructure (V2I), and cloud services (V2C).
The primary types of automotive connectivity control units include external vehicle communication control and in-vehicle communication control. External vehicle communication control manages and regulates the communication between the vehicle and its external environment. It is utilized in automotive connectivity control units for passenger vehicles, light commercial vehicles, and heavy commercial vehicles. These units are distributed through both original equipment manufacturers (OEMs) and aftermarket channels.
The automotive connectivity control unit market research report is one of a series of new reports from The Business Research Company that provides automotive connectivity control unit market statistics, including automotive connectivity control unit industry global market size, regional shares, competitors with a automotive connectivity control unit market share, detailed automotive connectivity control unit market segments, market trends and opportunities, and any further data you may need to thrive in the automotive connectivity control unit industry. This automotive connectivity control unit market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive connectivity control unit market size has grown exponentially in recent years. It will grow from $66.02 billion in 2023 to $80.32 billion in 2024 at a compound annual growth rate (CAGR) of 21.7%. The growth observed in the historic period can be attributed to several factors, including the increasing adoption of in-vehicle connectivity solutions, expansion of 5G technology within the automotive sector, the proliferation of cloud-based services for automotive applications, the rise in vehicle-to-infrastructure (V2I) communication, and heightened emphasis on energy efficiency and sustainability.
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 anticipated growth in the forecast period can be attributed to several factors, including rising consumer demand for connected car features, increased adoption of autonomous and electric vehicles, government regulations mandating vehicle connectivity, a shift towards vehicle-to-everything (V2X) communication, and enhanced requirements for vehicle safety and security. Key trends expected in the forecast period include the integration of IoT and smart devices into vehicles, growing demand for advanced driver assistance systems (ADAS), the merging of infotainment and telematics systems, the necessity for real-time data transmission and analysis, and the integration of AI and machine learning within automotive systems. These developments are set to drive innovation and transformation within the automotive connectivity landscape.
The automotive connectivity control unit market is set to expand due to increasing demand for automobiles. This demand stems from factors such as population growth, economic development, changing consumer preferences, and regulatory shifts. Automotive connectivity control units are essential for modern vehicles as they facilitate seamless communication and integration between internal systems and external networks, enhancing safety, efficiency, and overall user experience. For instance, by December 2022, the UK had 1.114 million licensed plug-in vehicles, marking a 49% increase from the previous year, alongside a 1.0% rise to 40.7 million licensed vehicles overall. This growth underscores the driving force behind the automotive connectivity control unit market.
Leading companies in this market are innovating with products such as telematics control units to cater to customer needs with advanced functionalities. Telematics control units manage and oversee telematics services by collecting, storing, and transmitting vehicle data to external servers. In February 2024, Harman partnered with Qualcomm Technologies to introduce the Harman Ready Connect 5G Telematics Control Unit (TCU). This device represents a significant leap in automotive connectivity, delivering enhanced in-cabin experiences while streamlining time to market and engineering efforts for automakers. Powered by Qualcomm's Snapdragon Modem-RF Gen 2 system, it offers robust performance, reliability, and cutting-edge features to meet evolving market demands.
In April 2021, AISIN Seiki Co. Ltd. merged with AISIN AW Co. Ltd. to form AISIN CORPORATION, consolidating their expertise in automotive connectivity control units and reinforcing their commitment to advancing next-generation mobility solutions. AISIN AW Co. Ltd. specializes in manufacturing automotive electronic control units, complementing AISIN Seiki's capabilities in this critical sector.
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
North America was the largest region in the automotive connectivity control unit market in 2023. 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.
The countries covered in the automotive connectivity control unit market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive connectivity control unit market consists of the sale of a central processing unit, graphics processing unit, accelerometers, gyroscopes, and speakers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Connectivity Control Unit Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive connectivity control unit market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive connectivity control unit ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive connectivity control unit market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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