The global telematics control unit market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). The major factor for the growth of the telematics control unit market includes the increase in inclination towards security, safety, and comfort in automation. Moreover, many European countries and other developing nations have been working on regulations to make vehicle and passenger safety updated as well as improved, which is also expected to fuel the demand for the market, during the forecast demand.
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Telematics is communication technology, for the automobile end-use industry, which is based on information flowing to and generated from vehicles via wireless networks. Telematics helps keep the driver as well as passenger safer, gives real-time directions and re-routing in case of a traffic jam. It also auto dials an emergency number if a vehicle is in an accident, along with others. It is the result of the convergence of location technology, wireless communications, and in-vehicle electronics.
The global telematics control unit market analysis includes some of the key market players such as LG Electronics Inc., Harman International (Samsung Electronics Co. Ltd), Robert Bosch GmbH, Continental AG, and Denso Corporation, among others. To maintain a strong position in the market, these market players are adopting various strategic moves, such as product launches, partnerships, collaborations, and mergers and acquisitions.
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Recent Developments:
- In January 2020, in CSE 2020, Samsung Electronics Co. Ltd announced that it partnered with BMW to showcase its new approach to enhance its mobility by leveraging its first commercialized 5G TCU (Telematics Control Unit). Furthermore, the group reported that BMW AG and 2021’s BMW iNEXT might be equipped with its 5G technology to serve ever-changing demands from the automotive market.
- In December 2019, DENSO Corporation (DENSO) and NTT Communications Corporation (NTT Com) completed its strategic agreement to introduce Vehicle Security Operation Center (V-SOC) technology for monitoring and analyzing any vehicle’s security status. Moreover, this new technology can detect cyberattacks, thereby improving the overall security of any vehicle.
Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: LG Electronics Inc., Harman International (Samsung Electronics Co. Ltd), Robert Bosch GmbH, Continental AG, and Denso Corporation, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Telematics Control Unit Market by Segment
By Type
- Embedded OEMs
- Aftersales
By Application
- Safety and Security
- Information and Navigation
- Other Applications
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