Telematics Control Unit Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Telematics Control Unit Market Analysis:

The market for telematics control units was valued at USD 3.85 billion in the previous year and is expected to grow at a CAGR of 14.8% over the forecast period, reaching USD 8.80 billion. Telematics is a communication system that utilizes wireless networks to transmit data to and from automobiles. This technology is becoming increasingly important in the automotive industry as it combines wireless technology, location technology, and in-vehicle electronics. The telematics control unit is a crucial component in this system, allowing for the exchange of data between the vehicle and back-office systems. While the adoption of telematics control units has been low, the emerging prospects of 5G and autonomous vehicles are expected to expand the scope of connected cars. According to Appinventiv, connected cars are anticipated to become the largest segment of the global 5G Internet of Things endpoint market, with a projected 19 million endpoints by the end of 2023.

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