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5G Vehicle T-Box Market Trends

  • Report ID: GMI11260
  • Published Date: Sep 2024
  • Report Format: PDF

5G Vehicle T-Box Market Trends

A major trend in the 5G vehicle t-box industry is the shift towards integrated and multifunctional solutions. As vehicles become more advanced, there is a growing preference for T-Boxes that combine multiple functions into a single unit, such as V2X communication, telematics, and infotainment. These integrated systems offer improved performance and efficiency by reducing the need for multiple separate devices.
 

They also streamline vehicle design and enhance overall system reliability. This trend is driven by the demand for seamless connectivity and the push for more sophisticated vehicle technology. As a result, manufacturers are focusing on developing comprehensive T-Box solutions to meet these evolving needs.
 

In December 2023, Magna announced its initiative to enhance ADAS capabilities by joining the NorthStar 5G innovation program, a collaboration between Telia Sweden, and Ericsson. This partnership involves setting up a private 5G network at Magna’s test track in Sweden, designed to support trials of advanced vehicle-to-vehicle (V2V) and vehicle-to-everything (V2X) technologies.
 

The use of 5G Wave technology will enable low latency and gigabit speeds, essential for real-time data processing and safety applications in ADAS. This move reflects the trend towards integrated and multifunctional solutions, as it aims to improve vehicle safety and advance autonomous driving through a unified, high-performance connectivity platform.
 

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of 5G vehicle T-box reached USD 1.8 billion in 2023 and is set to register over 22% CAGR between 2024 and 2032, due to the increasing demand for connected and autonomous vehicles.

The passenger vehicle segment held 67% revenue share in 2023, owing to growing consumer demand for advanced in-car technologies and push towards electric and autonomous vehicles.

Asia Pacific market accounted for 37% revenue share in 2023, attributed to its rapid automotive industry growth and technological advancements.

LG Electronics Inc., Denso Corporation, Robert Bosch GmbH, Neusoft Corporation, Continental AG, Qualcomm Incorporated, and Huawei Technologies Co., Ltd.

5G Vehicle T-Box Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 295
  • Countries covered: 26
  • Pages: 180
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