Asia Pacific Automotive Telematics Market by Type (Commercial Vehicles, Passenger Vehicles), Application (Satellite Navigation, Vehicle Safety Communication, Entertainment, Fleet Management, Remote Diagnostics, Vehicle Tracking, Others), and Country (China, Japan, India, ASEAN, Rest of Asia Pacific) is expected to reach US$ 47.9 Bn by 2026, at a CAGR of 24.6 % during a forecast period.
High adoption of telematics system by car rental service suppliers and cab service providers use of telematics in usage-based insurance government regulations on the vehicle and the passenger’s safety benefits offered by the automotive telematics system. However, less adoption of telematics system across the developing region is the major restraint factor.
Passenger Vehicle segment is expected to grow at the highest CAGR during the forecast period.
The growth in passenger vehicle production and sales along with increasing telematics penetration have enhanced the market for telematics. The passenger vehicle segment is estimated to grow at a major CAGR of 11% during the forecast period.
China is expected to be the leading country in the Asia Pacific Automotive Telematics Market during the forecast period.
China is forecasted to dominate the market because of the huge demand for automobiles coupled with technological advancement and growing infrastructure. Indian market is also set to expand at a high rate owing to government initiatives and improved telecom infrastructure. Technological advancement in mobile phones, smartphones, and telecommunications has been witnessed in the Asia Pacific region. Increased demand for safety and security and advanced telematics systems are major in Japan.
Key players operating the Asia Pacific Automotive Telematics Market are Agero, Airbiquity, Continental, Verizon Telematics, Visteon, Bynx, Connexis, Ericsson, Fleetmatics, Luxoft, Magneti Marelli, WirelessCar AB, NTT Docomo., AT&T Inc., Ford Motor Company, BMW AG, Robert Bosch GmbH, Valeo S.A, Harman International Industries, Incorporated, Vodafone Group Plc, TELEFÓNICA, S.A.
Maximize Market Research, a market research firm with a dedicated team of specialists and data has carried out extensive research about the Market. The report encompasses the market by different segments and country, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Asia Pacific Automotive Telematics Market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Asia Pacific Automotive Telematics Market positioning of competitors.
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