Automotive Connectivity Control Unit Market
Automotive Connectivity Control Unit Market is projected to reach a US$ 11.7 Billion in 2022, likely to surge at a vigorous 10.5 % CAGR from 2022 – 2032
NEW YORK, NEW YORK, UNITED STATES OF AMERICA, July 1, 2022 /EINPresswire.com/ — Automotive connectivity control unit is considered to be a vital part of connectivity in a vehicle. Automotive connectivity control unit is used to communicate and transit the data to the outside world. The unit controls the vehicle to vehicle and vehicle to infrastructure communication which is a necessary function in the automated cars. Connected cars have incredible potential in the future of the automotive industry. Already several automotive manufacturers offer driver convenience services, such as connected maps, internet radio, concierge and emergency dispatch, etc. Over the last few years, automotive wireless and electronics technologies have grown by leaps and bounds. Innovations in these technologies, combined with changing lifestyle and device convergence, are enabling automobiles to extend the driving experience beyond traditional vehicle transport. This in turn may significantly drive the demand for automotive connectivity control unit subsequently adding to the global automotive connectivity control unit market during the forecast period.
Global Automotive Connectivity Control Unit demand is projected to be valued at US$ 58.9 Billion in 2022, forecast to grow at a CAGR of 10.5% to be valued at US$ 11.7 Billion from 2022 to 2032.
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Automotive Connectivity Control Unit Market: Dynamics
Growing demand of automotive connected cars is considered to be the major factor driving the demand for automotive connectivity control units across the globe. Increasing implementation of stringent regulations in various countries concerning the safety of vehicles occupants is also one of the major factors fueling the demand for automotive connectivity control unit during the forecast period. In European Union, the ecall function became mandatory from March 2018 in which the automotive connectivity control unit must be equipped in the vehicle to operate an emergency call system. Automotive connectivity control unit also provides data to fleet management software solutions in order to execute various complex functions with great ease.
Autonomous vehicle technology and electrified powertrains are expected to generate significant interest in the consumers and is estimated to possess long-term value potential. Automotive connectivity control unit used in advanced driver assistances systems plays a crucial role in autonomous driving technology. Owing to the several benefits and enhancing the occupant’s safety, the demand for automotive connectivity control unit is projected to witness a noteworthy growth in the coming years.
Automotive connectivity control unit is considered to be one of the advanced technologies and is mainly implemented in the high end vehicles as the cost of the technology is relatively higher. The high cost of the technology may act as a restraining factor to the growth of the automotive connectivity control unit market during the forecast period.
Automotive Connectivity Control Unit Market: Regional Outlook
Automotive manufacturers are shifting production plants or establishing new ones in emerging automotive markets to capitalize on the growing demand for automobiles and benefit from lower capital and labor costs in these regions. Owing to stringent regulation concerning passengers and infrastructure safety, the demand for automotive connectivity control unit is projected to be relatively high in Europe and North America during the forecast period. Growing automotive industry as well as increasing purchasing power of the customers in the developing regions such as Asia Pacific are projected to be the key factor driving the growth of the automotive connectivity control unit market in the region.
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Automotive Connectivity Control Unit Market: Key Participants
Launching advanced products that offer various operational benefits, at the same time complying with existing regulations in the market, will help market participants maintain product differentiation and strengthen their roots in the global automotive connectivity control unit market. Examples of some of the market participants identified across the value chain of the global automotive connectivity control unit market include:
• Robert Bosch GmbH
• STMicroelectronics
• Continental AG
• Hyundai Autron
• Denso Corporation
• Infineon Technologies AG
Regional analysis includes:
• North America (U.S., Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
Automotive Connectivity Control Unit Market: Segmentation
The global automotive connectivity control unit market has been segmented by product type, vehicle type and sales channel.
On the basis of product type, the global automotive connectivity control unit market has been segmented as:
• External vehicle communication control
• In-vehicle communication control
On the basis of vehicle type, the global automotive connectivity control unit market has been segmented as:
• Passenger Vehicle Automotive Connectivity Control Unit
• Light Commercial Vehicle Automotive Connectivity Control Unit
• Heavy Commercial Vehicle Automotive Connectivity Control Unit
On the basis of sales channel, the global automotive connectivity control unit market has been segmented as:
• Original Equipment Manufacturer (OEM)
• Aftermarket
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Report Highlights:
• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current, and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint
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