LG Electronics Ranked 1st in Global TCU Market

LG Electronics has emerged as the No. 1 player in the global telematics control unit (TCU) market. TCUs are a key component that implements vehicular communications for connected cars.

According to market research firm Counterpoint Research, LG Electronics accounted for 35.2 percent of the TCU market in 2021. Its market share climbed by 1.7 percentage points compared to the previous year, and its shipments increased by 19 percent during the same period, exceeding the industry average of 13 percent.

“LG ​​ranked first in China and the United States because it enjoyed a close relationship with GM and Volkswagen,” Counterpoint Research said.

Continental, which excelled in Europe, came in second with a 25.3 percent share, down 2.1 percentage points from the previous year. Samsung Electronics’ Harman ranked third with 12.7 percent. “Harman is mainly focusing on the luxury car market, and is already supplying 5G TCUs to premium brands,” Counterpoint Research said.

Japan's Panasonic and Toyota Group affiliate Denso came in fourth and fifth with 4 percent and 3.8 percent shares, respectively.

Meanwhile, the global TCU market is expected to grow at an average annual growth rate of 15 percent between 2020 and 2025, and reach US$7 billion in 2025.