Passenger Car T-Box Market to Reach $5.4 Billion, Globally, by 2033 at 7.2% CAGR: Allied Market Research

News provided by

Sep 12, 2024, 12:07 ET

The global passenger car T-box market is witnessing growth due to rise in demand for connected car services, regulatory mandates and government initiatives, integration with advanced driver assistance systems (ADAS) and autonomous driving technologies.

WILMINGTON, Del. , Sept. 12, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Passenger Car T-Box Market by Type (4G, 5G and Others), and Application (MPV, SUV and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the passenger car t-box market was valued at $2.8 billion in 2023, and is estimated to reach $5.4 billion by 2033, growing at a CAGR of 7.2% from 2024 to 2033.

Request Sample of the Report on Passenger Car T-Box Market Forecast 2033: https://www.alliedmarketresearch.com/request-sample/A323787

Prime determinants of growth

A number of factors, including the growing need for stepped forward protection and protection functions, the popularity of associated car services, regulatory compliance, the expansion of shared mobility, and advancements in IoT and AI technology, are responsible for the rising demand for passenger car T-Boxes. However, cybersecurity concerns and high development and integration costs hinder market growth to some extent. Moreover, predictive maintenance and fleet management and data monetization and new business models offer lucrative opportunities for the expansion of the global passenger car T-box market.

Procure Complete Report (340 Pages PDF with In-depth Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/passenger-car-t-box-market-A323787

Segment Highlights

The 4G segment is expected to witness rapid growth throughout the forecast period.

By type, the 4G segment is anticipated to experience faster growth in the passenger car T-box market due to 4G technology is currently the most widely adopted connectivity standard for automotive telematics systems due to its widespread availability, reliability, and established infrastructure.

The SUV segment is expected to witness rapid growth throughout the forecast period.

By application, the SUV segment is anticipated to experience growth in the passenger car T-box market. Sport Utility Vehicles (SUVs) have gained popularity globally due to their versatility, spaciousness, and perceived safety, leading to increased adoption of T-Box systems in this vehicle segment.

Asia-Pacific to maintain its dominance by 2032.

Region wise, Asia-Pacific is expected to maintain its dominance in the passenger car T-box market by 2032 owing to factors such as high automotive sales volumes and rapid technological advancements in the region. Within each segment, the subsegments with the highest adoption rates align with prevailing market trends and consumer preferences.

Make an Inquiry for Further Details of Report:
https://www.alliedmarketresearch.com/purchase-enquiry/A323787

Players:

LG Electronics
Valeo
Denso
Lan-You Technology
Continental AG
Neusoft
Flaircomm Microelectronics
Harman
Visteon
Bosch

The report provides a detailed analysis of these key players in the global passenger car T-box market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Recent Industry News

In January 2024, Jingwei Hirain introduced a new 5G T-Box product featuring the latest 5G chips from Qualcomm. This innovative product is tailored for a mainstream intelligent all-electric model and is set to enter mass production by the year's end. With the Qualcomm SA522 chip released in early 2023, the T-Box offers a range of advanced functions including Gigabit Ethernet, V2X, high-precision positioning, WiFi6, CAN FD, Dual SIM Dual Standby (DSDS), and RTMP audio transmission. It delivers a variety of efficient telematics services for both the intelligent driving and infotainment sectors of vehicles, boasting enhanced platform scalability.
In June 2023, the LG Vehicle Component Solutions Company, which encompasses T-Box, achieved an impressive annual revenue of $7.55 billion (KRW10.1 trillion) and an operating profit of $99.5 million (KRW133 billion). Since the initiation of financial reporting in 2015, this business division has consistently experienced growth for eight consecutive years, making a significant contribution of 12% to the total revenue in 2023.

Explore More Trending Report

Automotive Tire Market Size, Share, Competitive Landscape and Trend Analysis Report, by Season Type, Rim Size, Vehicle Type, Load Index and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021-2030 https://www.alliedmarketresearch.com/automotive-tire-market

Europe Van Market Size, Share, Competitive Landscape and Trend Analysis Report, by Vehicle Type (Small Van {Panel Van [Converted and Non-converted] and People Mover [Converted and Non-converted]}, Medium Van {Panel Van [Converted and Non-converted] and People Mover [Converted and Non-converted]}, and Large Van Regional Opportunity Analysis and Industry Forecast, 2022-2031 https://www.alliedmarketresearch.com/europe-van-market-A31804

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) Offered by Allied Market Research:

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
[email protected]
Web: www.alliedmarketresearch.com
AMR Resource Center: https://www.alliedmarketresearch.com/resource-center