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Automotive Connectivity Control Unit Market

Market Insights on Automotive Connectivity Control Unit covering sales outlook, demand forecast & up-to-date key trends

Automotive Connectivity Control Unit Market By Product type (The external vehicle communication control, In-vehicle communication control) Vehicle type (Passenger Vehicle Automotive Connectivity Control Unit, Light Commercial Vehicle Automotive Connectivity Control Unit), Sales channel (Original Equipment Manufacturer, Aftermarket) & Region - Forecast 2022-2032

Automotive Connectivity Control Unit Market Overview

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. 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)

US$ 55 Billion

Expected Market Value (2022)

US$ 4.32 Billion

Anticipated Forecast Value (2032)

US$ 11.7 Billion

Projected Growth Rate (2022-2032)

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 the 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.

Which are Some Prominent Drivers Spearheading Automotive Connectivity Control Unit Market Growth?

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 vehicles 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.

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What are the Challenges Faced by the Automotive Connectivity Control Unit Industry?

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.

Why is Asia-Pacific Emerging as an Opportunistic Automotive Connectivity Control Unit Market?

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 reducing 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.

Nikhil Kaitwade
Principal Consultant
LinkedIn
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Why does North America Hold a Significant Share in the Automotive Connectivity Control Unit 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 the customers in the 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.

Market Competition

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, Infineon Technologies AG, among others. 

  • In March 2021, Bosch mobility solutions developed a V2X connectivity control unit which is the center for connectivity functionality in commercial vehicles. It enables commercial vehicles to communicate with one another and with objects in the immediate surroundings.
  • It forms the basis for innovative driver assistance systems that see beyond what the driver can normally see and, as a result, have the ability to increase safety on the roads.
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Scope of Report 

Report Attribute

Details

Growth Rate

CAGR of 10.5% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2016-2021

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

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
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Robert Bosch GmbH
  • STMicroelectronics
  • Continental AG
  • Hyundai Autron
  • Denso Corporation
  • Infineon Technologies AG

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Key Segments Profiled in the Automotive Connectivity Control Unit Industry Survey

Product Type:

  • External Vehicle Communication Control
  • In-Vehicle Communication Control

Vehicle Type:

  • Passenger Vehicle Automotive Connectivity Control Unit
  • Light Commercial Vehicle Automotive Connectivity Control Unit
  • Heavy Commercial Vehicle Automotive Connectivity Control Unit

Sales Channel:

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Frequently Asked Questions

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, Infineon Technologies AG, among others.

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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