Global Automotive Telematics Device Market

Global Automotive Telematics Device Market is expected to reach USD 24.64 by 2032, at a CAGR of 11.27% during the forecast period.

The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.

Automotive telematics is the most promising area of growth with increasing use of mobile technology and connectivity in automobiles. An automotive telematics device gathers and records the driving data from the vehicle and transmits the recorded data to insurance companies. These devices record information about driving behavior, driving speed, braking, and driving distance, and other information. Some of the automotive telematics devices are a black box, widescreen device, OBD dongle, others.

The report has covered, demand drivers by region, pricing by region, and profit margins of key players operating in this industry. A brief analysis of restraints and challenges in the market is also covered with examples by region. It also has covered the analysis of key player’s growth strategies, micro and macro analysis of markets, key developments, and key trends in the market.

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Global Automotive Telematics Device Market Dynamics

The growing requirement for better connectivity and IoT devices is driving the market.

Demand for improved connectivity and use of IoT devices is expected to fuel the market growth during the forecast period. The Automotive telematics device increases road safety with features like crash notification, emergency medical assistance, and others. Increasing government interest to mandate the use of some automotive telematics devices such as emergency calls, location tracking, and others, is also driving the market demand.

The European Union has already started implementing these regulations to improve road safety. The growing popularity of usage-based Insurance in the populace is expected to boost the demand of the automotive telematics device market during the forecast period. Usage-based insurance is already available for vehicles in developed countries. With the improved road safety, these devices also provide extra benefits including, better fuel economy, stolen automobile recovery, alerts for vehicle maintenance, and others.

The Automotive telematics device has the potential to provide car insurance saving for a good driver this is further expected to accelerate the demand of the market during the forecast period. New generation cars already have built-in telematics devices for a better driving experience.

User privacy concern is expected to hinder the market growth.

The driving data of the user is monitored by the insurance companies with the help of a telematics device. These companies can track the car location and driving behavior of the driver which creates privacy concerns among the populace. The high installation cost of the telematics device is also expected to hinder the growth of the market during the forecast period.

Technological advancement and increasing use of AI & ML are expected to create new opportunities
The growing use of artificial intelligence and machine learning for the user-friendly interface is expected to create new opportunities during the forecast period. Growing awareness of user-based insurance in emerging countries is also anticipated to boost the market.

The market is divided into three main segments and further into sub-segments to forecast the

OBD Dongle segment is expected to command the largest market share of XX% by 2032

OBD Dongle is among the well-known telematics devices. OBD dongle records and collects the data from the vehicle. These devices can collect data from the engine control unit, they can also record error messages related to the fuel pump, sensors, battery, air leaks, filter, and others. OBD dongle records technical information like the location of a vehicle, driving behavior, carbon emission, and fuel usage. They ensure road safety and improves the driving experience for the driver hence their demand is expected to propel during the forecast period.

OBD device is mandatory in US vehicles as per the government regulation. The use of a smartphone as a telematics device in the vehicle is also a popular trend these days as it eliminates the installation cost. Smartphone's data transfer capability over cellular networks and Wi-Fi is expected to propel the demand of the market during the forecast period.

The passenger vehicle segment is expected to command the largest market share of XX% by 2032

The passenger vehicle segment is the key driver of the automotive telematics device market. The demand for better connectivity and intelligence in a passenger vehicle is expected to propel the demand of the market. Government regulation for the use of telematics devices in a passenger vehicle and the introduction of new generation passenger vehicles with built-in telematics devices is anticipated to boost the market growth during the forecast period.

For better insurance benefits popularity of telematics devices in passenger vehicles is growing. Automotive telematics devices are also widely adopted in commercial vehicles, thanks to their unique features including driving behavior monitoring, location tracking, emergency assistance, and error detection & notification.

APAC is expected to command the largest market share of XX% by 2032

Asia Pacific is expected to command the largest market share of XX% by 2032, thanks to the growing adoption of telematics devices in the region. The concept of user-based insurance service is new in emerging countries but its awareness and adoption are increasing at a faster pace. The Asia Pacific is already the largest market for electric vehicles, the growing electric vehicle market is also expected to provide significant growth to the automotive telematics device market.

The growing supply chain industry in the region has created the demand for fleet management for commercial vehicles, this will boost the demand of the market during the forecast period. A growing number of road accidents and fuel wastage is expected to fuel the demand of the automotive telematics market during the forecast period.

North America commanded the largest market share of XX% in 2019, thanks to the technological advancement in the region and mandatory regulations of the government to use telematics devices in commercial and passenger vehicles. The growing use of automated vehicles and the adoption of usage-based insurance service in developed countries is driving the market.

North America is expected to experience significant growth during the forecast period, thanks to the increasing road safety concern in the region. According to the Insurance Institute of Highway safety in 2018, fatal vehicle crashes in the US were 33,654. The growing use of electric vehicles with built-in telematics devices is also expected to drive the market during the forecast period.

Covid-19 Impact on the Global Automotive Telematics Device Market:

The coronavirus pandemic has placed tremendous pressure on businesses and sectors across the globe. Governments from all countries have introduced a lock-up to detect the transmission of infectious diseases. The contribution of these regulations has created a negative impact on the automotive industry.

The coronavirus adversely impacted the automotive telematics device market. The interruption of export and import operations due to limitations on foreign flights would further restrict the market's development. The disruption caused by the lockdown would harm the market. Most of the industries are not functioning properly due to the influence of Covid-19 which has caused an adverse impact on the market.

The objective of the report is to present a comprehensive analysis of the Global Automotive Telematics Device Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Automotive Telematics Device Market dynamics, structure by analyzing the market segments and projects the Global Automotive Telematics Device Market size. Clear representation of competitive analysis of key players By Vehicle Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Automotive Telematics Device Market make the report investor’s guide.

Recent Industry Developments

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Global Automotive Telematics Device Market, by Region

North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)

Key Players / Competitors Profiles Covered in Brief in Global Automotive Telematics Device Market Report in Strategic Perspective:

1. TomTom International B.V.
2. I.D. Systems, Inc.
3. Agero, Inc.
4. Airbiquity, Inc.
5. Continental AG
6. Robert Bosch GmbH
7. Verizon Connect
8. Geotab Inc.
9. Trimble Inc.
10. LG Electronics
11. Harman International
12. Denso Corporation
13. Masternaut Limited
14. Teletrac Navman
15. Octo Telematics
16. MiX Telematics
17. Visteon Corporation
18. Teltonika
19. CalAmp
20. ACTIA Corporation
21. Ituran Location and Control
22. Qualcomm Technologies, Inc.
23. Omnitracs LLC
24. WirelessCar AB
25. ERM Advanced Telematics