As per Future Market Insights, the Automotive Telematics Control Unit market is predicted to develop at a 5.1% CAGR from 2023 to 2033, with a total revenue of US$ 13.66 billion in 2023. According to Future Market Insights (FMI), the market will exceed US$ 22.47 billion by the end of 2033.
Automotive Telematics Control Unit Market
The automotive Telematics Control Unit market experienced a downturn as the Covid-19 scandal spread. The sales level in this market fell, potentially resulting in losses for worldwide producers. As the situation improves in 2021 as a result of strong and severe government measures, prominent manufacturers are attempting to recoup losses through product diversifications and innovations.
As a result of government initiatives to expand the technology industry, the North American region is expected to dominate the market in terms of growth throughout the forecast period. Because of the introduction of new companies, the Asia Pacific and European markets are projected to be profitable.
North America is projected to have the highest DCT technology trend in the Automotive Telematics Control Unit. Magna, one of the leading TCU producers in the North American automobile TCU market, has formed a joint venture with Dongfeng GETRAG Transmission Co. Ltd., primarily to provide dual-clutch transmission systems and address the market’s expanding consumer demand.
· The market in North America is expected to remain the strongest, with a market value of just about US$ 6 billion by the end of 2033.
· The market increased at a CAGR of 4.6% from 2018 to 2022
· The United States held a 20% market share in 2022.
· Between 2023 and 2033, the Indian market is expected to grow at an outstanding 5.1% CAGR.
· During the projected period, the Automatic Transmission (AT) segment is expected to rise at a stable CAGR of roughly 5.6% in terms of value.
“The DCT category will witness extraordinary growth in the coming years, according to the market forecast offered in this research, due to factors such as an increase in the manufacturing of high-performance DCTs for passenger cars and commercial vehicles, as well as compact size passenger cars,” says FMI analyst.
· HARMAN has announced a collaboration with the American Centre for Mobility (ACM) to examine real-world use cases of road-ready technology during the MWC Barcelona 2023 in February 2023. This enhances visibility, reduces driver anxiety, and increases safety while allowing the host car to safely overtake using the HARMAN 5G TCU and HARMAN Savari MECWAVE.
· In January 2023, Hitachi Astemo, Ltd. (“Hitachi Astemo”), Trend Micro Inc. (“Trend Micro”), and it is subsidiary VicOne Inc. (“VicOne”) expanded their collaboration to develop safety measures for connected cars, with the goal of commercialization by 2025. Hitachi Astemo’s Edge-SIEM*3 automotive safety technology will be combined with Trend Micro and VicOne’s xCarbon*4 embedded security solution as part of the collaboration.
These insights are based on a report on the Automotive TCU Market by Future Market Insights