Global Automotive Connectivity Control Unit demand is projected to be valued at USD 58.9 Billion in 2022 and is forecast to grow at a CAGR of 10.5% to be valued at USD 11.7 Billion from 2022 to 2032. Growth is attributed to the rising demand for renovation projects and development in residential and commercial construction.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 55 Billion |
| Expected Market Value (2022) | USD 4.32 Billion |
| Anticipated Forecast Value (2032) | USD 11.7 Billion |
| Projected Growth Rate (2022 to 2032) | 10.5 % CAGR |
The automotive connectivity control unit is considered to be a vital part of connectivity in a vehicle. The automotive connectivity control unit is used to communicate and transmit data to the outside world. The unit controls the vehicle-to-vehicle and vehicle-to-infrastructure communication which is a necessary function in 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 lifestyles 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 units subsequently adding to the global automotive connectivity control unit market during the forecast period.
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The growing demand for 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 vehicle occupants is also one of the major factors fueling the demand for automotive connectivity control units during the forecast period.
Autonomous vehicle technology and electrified powertrains are expected to generate significant interest in consumers and are estimated to possess long-term value potential. The automotive connectivity control unit used in advanced driver assistance 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 units is projected to witness noteworthy growth in the coming years.
The automotive connectivity control unit is considered to be one of the advanced technologies and is mainly implemented in 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 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.
The swift progression of the automobile industry and the soaring penetration of vehicle & system manufacturers are pushing the market growth. The global growth of the automobile industry is attributed to the low-priced availability of labor and the reduced cost of raw materials & electronic components. Snowballing automobile production in China and Japan is supplementing the demand for efficient control units to help vehicular functioning. Moreover, the need to incorporate ADAS, safety, and comfort features in all new vehicles to eradicate accidents is generating several opportunities for the Market.
Owing to stringent regulations concerning passengers and infrastructure safety, the demand for the automotive connectivity control unit is projected to be relatively high in Europe and North America during the forecast period. The growing automotive industry as well as the increasing purchasing power of customers in developing regions such as the Asia Pacific are projected to be the key factor driving the growth of the automotive connectivity control unit market in the region.
Some of the key participants present in the global demand of the Automotive Connectivity Control Unit market include Robert Bosch GmbH, STMicroelectronics, Continental AG, Hyundai Autron, Denso Corporation, and Infineon Technologies AG, among others.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 10.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Vehicle type, Sales Channel, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific Excluding Japan; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled | Robert Bosch GmbH; STMicroelectronics; Continental AG; Hyundai Autron; Denso Corporation; Infineon Technologies AG |
| Customization | Available Upon Request |
FMI projects the global demand of the Automotive Connectivity Control Unit market to expand at a 10.5% value CAGR by 2032
North America is expected to be the most opportunistic Automotive Connectivity Control Unit market, expanding at a ~7% CAGR
Robert Bosch GmbH, STMicroelectronics, Continental AG, Hyundai Autron, Denso Corporation, and Infineon Technologies AG, among others.
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Automotive Connectivity Control Unit Market
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