China Leads Global TCU Market with 9% Growth in Q1 2024

TapTechNews June 27th news, market research firm Counterpoint Research released a report today. In the first quarter of 2024, China continues to lead the global Telematics Control Unit (TCU) market with a 32% share. And driven by the double-digit growth of major domestic manufacturers, the sales volume of TCU in China increased by 9% year-on-year.

The Telematics Control Unit (TCU) is an embedded in-vehicle system used to control the wireless tracking, diagnostics and communications of vehicles. These systems can be used for functions such as crash notification, electronic toll collection and vehicle tracking.

Research analyst Wang Shaochun said:

Advanced infotainment and safety features are driving the growing connectivity needs of users.

High-level assisted/autonomous driving, C-V2X, intelligent cockpit (multi-screen interaction and AI-supported voice control), wireless updates and other software-defined functions are becoming increasingly important for modern vehicles. All of these require stable and rapid connection, which promotes the adoption of TCU.

TapTechNews attached the following picture of the domestic market segmentation. In the first quarter of 2024, LG continued to hold the first position in the Chinese market with a 17.9% share, followed by Valeo and Neusoft. Huawei achieved the highest year-on-year growth of 45%, and BYD increased by 24%.

Research analyst Abhilash Gupta said:

In order to meet the new advanced mobility use cases, the demand for 5G TCU that provides high speed and low latency is gradually increasing.

Driven by the introduction of diverse 5G products by Chinese TCU manufacturers, China is still the leader of 5G T-box, occupying 89% of the global market share; 4G dominates in T-box sales, occupying about 90% of the share.