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5G-ready Telematics Control Units (TCU) Market

Global Market Study on 5G-ready Telematics Control Units (TCU): Surging Demand for Vehicle-to-Everything (V2X) Connectivity to Boost Sales

5G-ready Telematics Control Units (TCU) Market Segmented By mmWave 5G TCUs, Sub-6 GHz TCUs type for Passenger Vehicles, Commercial Vehicles

5G-ready Telematics Control Units (TCU) Market Outlook (2023-2033)

The market for 5G-ready Telematics Control Units was valued at US$ 2,497.5 Mn in 2022, and is expected to have grown to US$ 33,105.5 Mn, by the end of 2033. The market for 5G-ready Telematics Control Units is estimated to valuate to US$ 3,121.9 Mn in 2023, and is predicted to grow at a CAGR of 26.6% from 2023 to 2033.

5G-ready telematics control unit (TCU) is an embedded on board system which is used to power telecommunications services. It is becoming an essential item in connected-car services as it allows users to get real-time information of their vehicles. The 5G-ready telematics control units with a smart antenna combines multiple antennas in single antenna. Later it is mounted beneath the vehicle’s body surface and also covered with a non-conductive cover. This technology will be necessary to enable prompt communication between pedestrians, vehicles and infrastructure.

Increase in adoption of mmWave 5G telematics control as the product is getting attention from many companies. As an increasing number of activities are possible in a vehicle due to the advancement of TCU technology, the communications technology is becoming increasingly important for allowing huge amount of data to travel at faster speeds.

Also, the scope of testing a telematics control unit is vast as TCU is loaded with wireless and cellular technologies. There is a wide variety of testing such as non-signaling tests, signaling tests, conducted tests, over-the-air tests, lab tests, field tests, production tests, etc. Thus, the verification and product development teams are carefully investigating topic like cellular vehicle-to-everything (C-V2X) for deciding the scope of testing

The 5G-ready telematics control units’ market will see new opportunities presented by the rising popularity of 5G-ready Telematics Control Units. The market will benefit from the investments made by businesses and the advancements in technology of 5G Telematics Control Units software.In terms of the regional market landscape, the market in North America held a leading market share of 26.1% in the global landscape in 2022 and is expected to retain its leading position throughout the forecast period. Meanwhile, demand for 5G telematics control units in the Europe region will hold around 23.9% of the market in 2022.

5G-ready Telematics Control Units (TCU) Market Size (2023)

US$ 3,121.9 Mn

Projected Market Value (2033)

US$ 33,105.5 Mn

Global Market Growth Rate (2023-2033)

26.6%

Vehicle-to-Vehicle (V2V) Connectivity Market Share (2022)

42.3%

India Market Growth Rate (2022)

26.9%

Commercial Vehicles Market Share (2022)

53.2%

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What Restraints Will Hamper the Growth of 5G-ready Telematics Control Units (TCU) Market?

“Increasing Cost for accommodating more than Single Antenna to support 5G and V2X technologies”

Although there is a preparation for 5G for some time from the automotive industry. There will be some technical challenges before widespread deployment. A wide variety of communication technologies Bluetooth, cellular, satellite radio, Wi-Fi, and in-vehicle navigation exist but single shark fin antenna on today’s cars is not capable of accommodating the eight or more antennas to support V2X (vehicle to everything), 5G and other next-generation connectivity technologies

  • In September 2022, Rohde & Schwarz launched CTIA authorized 5G mmWave test system with multi-AoA capabilities in FR2 with many advanced 5G NR applications also depends on ultrahigh data rates and ultralow latencies.
  • In October 2022, Nokia was been selected by NBN (National Broadband Network) to supply 5G fixed wireless access (FWA) mmWave Customer Premises Equipment (CPE) to improve NBN’s solution offering. This deal will allow NBN to provide high speed internet across rural and semi-urban areas.
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What Factors Are Influencing the Adoption of 5G-ready Telematics Control Units in US?

“Enhancement in R&D Capabilities Allow Growth for 5G-ready TCUs in US”

Due to their superior technologies and potent R&D capacities, most US producers of 5G-ready TCUs are concentrating on cost effectiveness. Ongoing development and deployment of 5G technology networks are underway such factors will help 5G-ready TCUs in the US to expand, large number of internet users, enterprises and initiatives are allowing the US market to be attractive for the 5G-ready TCUs.

Due to these reasons, the market in US is estimated to have held the market share of 17.2% in 2022.

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Why is Demand for 5G-ready TCUs Increasing in Germany?

“Increase in the adoption of embedded connectivity”

It has been observed that Spain, the U.K., Russia, France, and Germany hold a strong part of the European 5G-ready telematics control unit’s industry. The market is rapidly evolving with new technologies and methodologies in Germany and factors that allow this country to be a bigger market compared to the other European countries include, large scale industrialization, economic strength and large population.

Germany has a thriving 5G-ready TCU sector and is home to cutting-edge technologies. The demand for linked automobiles is rising, and German automakers are using embedded connectivity more frequently.

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Why is India Estimated to be the Fastest Growing Market for 5G-ready TCUs?

“Increasing adoption of advanced 5G technologies in India”

The internet penetration in India has occurred at an impressive rate in India over the past few years and in 2022 the consumer distribution of 5G services began in the Indian urban region, due to a high population and interne consumption, the market for 5G-ready telematics control units is estimated to grow in India at a CAGR of 26.9% over the forecast period.

Category-wise Insights

Which 5G-ready TCU Type Will Enjoy Higher Demand in Future?

“mmwave 5G Telematics Control Unit Dominating the 5G-ready TCU Market”

mmwave 5G telematics control unit attracting the attention of many companies. With further developments in TCU technology, more and more activities are possible inside the vehicle, communication technology is becoming more important to enable faster transfer of huge amounts of data.

Due to this reason, mmwave 5G telematics control unit was estimated to hold the largest market in 2022.

Why Does Vehicle-to-Vehicle Connectivity Hold Major Market Share in 5G-ready TCUs?

“Large Presence of Passenger Vehicles Allows Vehicle-to-Vehicle Connectivity to Have the Largest Market Share

The demand for vehicle-to-vehicle (V2V) communication systems is increasing day by day, to enable vehicles to wirelessly exchange information about position, speed and heading. As passenger cars increasingly integrate telematics systems for driver safety and vehicle tracking and diagnostics, demand for vehicle-to-vehicle (V2V) communication systems is increasing. The presence of vast amount of passenger vehicles allows this segment of the market to attract the largest market share.

Due to these reasons, the vehicle-to-vehicle (V2C) connectivity was estimated to hold the largest market share of 42.3% in 2022.

Why are Passenger Vehicles Reflecting Higher Market Growth?

“High Number of Passenger Vehicles Allows Passenger Vehicles Segment to Dominate by Vehicle Type”

5G-ready TCU manufacturers are offering various features for passenger vehicles such as increased cost-savings, heightened user experience, lowered energy consumption, etc. This provides drivers and passengers with an uninterrupted connected experience, saving costs and energy.

Due to this reason, 5G-ready TCUs for passenger vehicles is estimated to grow at the highest growth rate over the forecast period.

Competitive Landscape

Major 5G-ready telematics control unit companies are collaborating and partnering with other organizations to provide more care, most of the companies operating in this domain have expertise in consumer electronics and internet connectivity solutions.

  • For instance, in November 2020, HARMAN International introduced HARMAN Turbo Connect (TBOT), a new intelligent software agent that will anticipate and mitigate vehicle connectivity discrepancies on the road. This satisfies current demand for high-speed connectivity with low latency, especially when used alongside 5G-enabled technologies such as HARMAN’s smart conformal antenna and full 5G and 5G-ready TCUs.
  • For instance, in February 2021, Quectel collaborated with Qualcomm Technologies to offer advanced and smart connections to vehicles, including 5G, LTE/LTE-A, C-V2X and other automotive modules to empower safer and more efficient driving. With this pairing, both companies will develop competitive automotive communication modules to enable safe and efficient driving experiences to bring 5G-connected vehicles into the 5G era.

Recent developments related to key players providing 5G-ready telematics control units (TCU) Market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

5G-ready Telematics Control Units (TCU) Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2018-2022

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • US
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • South Africa

Key Market Segments Covered

  • TCU Type
  • Connectivity
  • Vehicle Type
  • End User
  • Region

Key Companies Profiled

Pricing

Available upon Request

Key Segments of 5G-ready Telematics Control Units (TCU) Market Industry Research

By TCU Type:

  • mmWave 5G TCUs
  • Sub-6 GHz TCUs

By Connectivity:

  • Vehicle-to-Vehicle (V2V) Connectivity
  • Vehicle-to-Infrastructure (V2I) Connectivity
  • Vehicle-to-Network (V2N) Connectivity

By Vehicle Type:

  • Passenger Vehicles
  • Commercial Vehicles

By End User:

  • IT Auto Manufacturers/OEMs
  • Automotive Aftermarket Vendors
  • Telematics Vendors

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East and Africa

- Companies Covered in This Report -

  • HARMAN International
  • Qualcomm Technologies, Inc.
  • Askey Computer Corp.
  • MediaTek Inc.
  • Quectel
  • Visteon Corporation
  • Movandi Corporation
  • Millimeter Wave Products Inc.
  • Farran Technologies

- Frequently Asked Questions -

In 2022, the market value of 5G-ready telematics control units was US$ 2,497.5 Mn.

The global 5G-ready telematics control units (TCU) Market is estimated to advance at a 26.6% CAGR through 2033.

The market for 5G-ready telematics control units (TCU) is forecasted to climb to US$ 33,105.5 Mn by 2033 end.

Demand for 5G-ready telematics control units (TCU) Market in India is projected to rise at a CAGR of 26.1% over the forecast period.

In 2022, the North America 5G-ready telematics control units (TCU) Market held a dominant market share of 17.2%.

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