Acumen Research and Consulting, a global provider of market research studies, in a latest published report titled “Telematics Control Unit Market Size, Share and Forecast, 2020 - 2027”.
LOS ANGELES, April 30, 2020 (GLOBE NEWSWIRE) -- The global telematics control unit market is expected to reach the market value of around US$ 6,600 Mn by 2027 and is anticipated to grow at a CAGR of around 11% in terms of revenue during the forecast period 2020 to 2027.
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The telematics control unit (TCU) is a device that is installed in the vehicle to track the position, speed and performance of the vehicle. The telematics control unit gathers and analyzes information to track the performance of vehicles and drivers. Enhancements in technology have improved the automotive industry significantly with various technologies, such as passenger locations, and telematics often track the behavior of vehicles. Telematic devices also play an significant role in the growth of automobile industry. Telematics applications give passengers the essential rules for understanding the situation, vehicle speed and detailed scorecard and data management. In order to extend telematic services, TCU is the essential and basic functional unit. TCU networks promote emerging and new technologies and attract new customers.
North America Account for Significant Market Share
- North America held the significant share of the market due to presence of large number of domestic manufacturers, technical advancement in informtics, and new rules and regulation of government. The advancement of information technologies and growing use of IoT in automotive applications have brought new dimensions to the market in the region. Such developments boost the TCUs market in North America. The rise in vehicle theft is another contributing factor to the need for telematics. For instance, in the U.S., about US$ 6 Bn was lost to motor vehicle theft in 2017. The average loss was US$ 7,708 per theft. In 2017, motor vehicles were stolen at a rate of 237.4 per 100,000 in the U.S. and still remain constant compared to 237.3 in 2016. 773,139 vehicles were confirmed to have been stolen in 2017; 0.8%more than 767,290 in 2016. • Every 40.9 seconds in 2017, it turns into one car robbery. Telematics can help to solve these challenges and thereby create growth in the forecast timeframe for the Telematics controller industry.
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Market dynamics
Transport and logistics are among the most rapidly growing sector in which navigation systems is implemented. Data and navigation offers conveniently incorporated convenience in the car, where the driver can use data about content and location. TCU is also able to provide wireless devices inside the motor vehicle with a personal area network (PAN) to provide internet access through the wireless network for telematic information. The surveillance, presence detection, and fleet tracking services of automobile maintenance are highly requested and are used to enhance the efficiency and profitability of commercial vehicles. TCU is booming nowadays and due to these features and anticipated that it will continue the growth of the market during forecast period. However, health issues related to the system for telematics control may be considered a limitation of the industry for telematics control.
The market for the development of a fully autonomous vehcile has evolved. Organizations invest significantly in vehicle upgrade, for improved navigation, vehicle maintenance, protection, entertainment and other functions. The demand of telematics control units is expected to expand significantly during the forecast period by leveraging emerging technologies and development in Internet of Things (IoT), Machine to Machine (M2M), and Big Data analytics. In the forecast period, the data processing, demand for telematic control units, is projected for substantial growth. The global telematic control unit market includes prominent players such as Harman International, G Electronics Inc., Panasonic Corporation, Continental AG, Bosch Software Innovations GmbH, Fujitsu Ten Corporation, Flaircomm Microelectronics, Inc., Huawei Technologies Co. Ltd, Texas Instruments Incorporated, Ficosa International SA, Infineon Technologies, and others.
Recent Developments
- In November 2018 - Texas Instruments has launched two adjustable (FD) transceivers, the Controller Area Network (CAN), which offers industry best protection on bus malfunction, highest standard transient immunity (CMTI) mode, and the lowest electromagnetic emission in a 35% small package.
- In January 2018 - From December 2017 Panasonic has announced that it has launced the telematics control unit.
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