Automotive Telematics Market Size – Industry Structure Evaluation, Demand Drivers Analysis, Regional Growth Analysis and Identification, Competitive Positioning Review & Global Market Size Forecast to 2029
Overview
Automotive Telematics Market was valued at US$ 36.59 Bn in 2022 and is expected to reach US$ 129.14 Bn by 2029, at a CAGR of 19.74% during a 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.
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Telematics is a method of monitoring a vehicle. By combining a GPS system with on-board diagnostics it's possible to record – and map – exactly where a car is and how fast it's traveling, and cross-reference that with how a car is behaving internally.The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
Major driving factors of the market are the cause Technology is changing – and so is the law. Telematics is changing the way fleet managers operate vehicles. Whether one manages a fleet of cars, pickup trucks, vans, box trucks, or tractor-trailers, telematics technology improves the safety and efficiency of commercial transportation. Numerous benefits of telematics, advancement in smartphones, high-speed internet connectivity, and developed GPS receiver have changed the telematics business rapidly.
Telematics is opening the road to smart transportation, bringing autonomous driving closer to reality. Vehicles are coming off the production line having around 25 to 60 electronic modules controlling diverse systems, from airbags to seating positions, the brakes, and entertainment. Less Adoption of Telematics System across the Developing Region and Data privacy will act as a restraint to the market.
Automotive Telematics Market Segment Analysis:
Based on the Services, Safety & security segment is expected to hold the largest share in the market during the forecast period. Safety & security in-vehicle telematics is an integrated use of mobile communication, vehicle monitoring systems, and location technology. It is one of the fastest-growing sectors globally for the past few years. Automotive Telematics is primarily driven by multi factors like an increase in the number of accidents, rising vehicle thefts, security issues while traveling and the demand for navigation services, etc. Safety & Security is playing a key role in automotive telematics.
In Trends – Predictive analytics.
The data that automotive telematics can extract is an important tool in performing a wide range of risk assessments. These predictive analytics can subsequently prove to be of significant help to fleet managers in staying head of driver safety and mechanical breakdowns. As such, the data is so much more than a means to measure past performance; it also allows fleet managers to pre-emptively manage operations.
Regional Analysis:
In terms of region, Asia Pacific is expected to hold the largest share in the market during the forecast period. The Asia-Pacific is expected to grow faster than the rest of the regions. The growth is expected to be steady GDP growth and high technological penetration. The region also is at an advantage on account of the presence of major players in the commercial vehicle telematics market.
North America is leading the market from a geographical point of view, saturation in the West by high penetration will boost growth in the Asia Pacific region. The growth in social media adoption and expanding the safety and security end-user segment will also be drivers of growth in the market.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the Automotive Telematics market. Moreover, the study also covers an market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
Automotive Telematics Market, Key Highlights:
Global Market analysis and forecast, in terms of value.
Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Market
Global Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
The Global Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
Global Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Market are also profiled.
Automotive Telematics Market Scope: Inquire before buying
| Global Automotive Telematics Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2022 | Forecast Period: | 2023-2029 |
| Historical Data: | 2018 to 2022 | Market Size in 2022: | US$ 36.59 Bn. |
| Forecast Period 2023 to 2029 CAGR: | 19.74% | Market Size in 2029: | US$ 129.14 Bn. |
| Segments Covered: | by Type | Embedded Tethered Integrated |
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| by Services | Safety & security Information & navigation Entertainment Remote diagnostics |
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| by Vehicle Type | Passenger Vehicle Commercial Vehicle |
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Automotive Telematics Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players
1. TomTom International B.V.
2. I.D. Systems, Inc.
3. Agero, Inc.
4. Airbiquity, Inc.
5. Visteon Corporation
6. Aplicom Oy
7. Scorpion Automotive Ltd
8. iTriangle Infotech Pvt Ltd
9. Shenzhen Concox Information & Technology Co., Ltd
10. Minda Corporation Limited
11. idem telematics GmbH
12. Road Track
13. ACTIA Group
14. BOX Telematics
15. Redtail Telematics Corporation
Frequently Asked Questions:
1. Which region has the largest share in Global Automotive Telematics Market?
Ans: Asia Pacific region held the highest share in 2022.
2. What is the growth rate of Global Market?
Ans: The Global Automotive Telematics Market is expected to growing at a CAGR of 19.74% during forecast period 2023-2029.
3. What is scope of the Global Automotive Telematics market report?
Ans: Global Automotive Telematics Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Automotive Telematics market?
Ans: The important key players in the Global Automotive Telematics Market are - TomTom International B.V., I.D. Systems, Inc., Agero, Inc., Airbiquity, Inc., Visteon Corporation, Aplicom Oy, Scorpion Automotive Ltd, iTriangle Infotech Pvt Ltd, Shenzhen Concox Information & Technology Co., Ltd, Minda Corporation Limited, idem telematics GmbH, Road Track, ACTIA Group, BOX Telematics, Redtail Telematics Corporation, and.
5. What is the study period of this market?
Ans: The Global Automotive Telematics Market is studied from 2022 to 2029.