Over the projection period of 2023 to 2032, the global telematics in automotive market size is anticipated to grow by USD 86.82 million at a CAGR of 21.10%.
Telematics is the technology used in fleet
monitoring to manage a car, a fleet of cars, and other assets, particularly in
trucking, site excavation, and construction applications.
The integration of data processing,
communications, and vehicle technology is known as automotive telematics. Cars
are a good mobile information station due to the usage of telematics in them.
Telematics offers very accurate live updates of a vehicle.
The public's growing understanding of the
advantages of using telematics in cars, as well as the rise in traffic jams and
accidents, are the main factors driving the market's expansion. Additionally,
the market will continue to expand due to rising government backing for the
usage of telematics in vehicles and the surge in passenger demand for wireless
communication systems.
The creation and usage of environmentally friendly
automobiles would help to lower atmospheric concentrations of greenhouse gases
(GHG). Throughout the forecast period, the market is also anticipated to be
driven by an increase in the number of traffic accidents.
The expensive cost of these telematics systems and
the lack of technical expertise, however, are predicted to impede the growth of
this industry. Throughout the projected period, growth possibilities are
anticipated to arise from the entry of new competitors and unexplored markets
in emerging countries.
Key Players of the market:
·
Trimble, inc. (US)
·
Masternaut Limited (France)
·
TomTom international B.V.( Netherlands)
·
Telogis (US)
·
Visteon Corporation (US)
·
Continental AG (Germany)
·
Airbiquity, inc. (US)
·
AT&T inc. (US)
·
Delphi Automotive PLC (UK)
·
Harman international industries, inc. (US)
·
Robert Bosch GmbH (Germany)
·
Trimble inc. (US)
·
Verizon Communications, inc. (US)
Automotive Telematics Market Regional
Evaluation
Automotive
Telematics Market Share The North American, Asia
Pacific, European, and Rest of the World regions make up the worldwide
telematics in the automobile market. The automobile telematics system market is
anticipated to be dominated by the North American region, followed by Europe and
Asia Pacific.
The United States is the primary user of
automobile telematics systems inside vehicles in the area of North America. To
increase the usage of automobile telematics systems and increase road safety,
governments in these developed economies have put in place a variety of rules
and laws.
The increased use of cutting-edge technology and
gadgets, such as mobile phones, smartphones, computers, and other associated
technical items, is another factor driving the industry. To compete and
maintain or grow their market share, leading manufacturers are also investing
in the creation of new products by adding new capabilities to telematics
devices.
Additionally, the Asia Pacific region is
anticipated to see the greatest growth throughout the forecast period as a
result of the rise in domestic demand for wireless communication systems in
cars, particularly in emerging nations like China and India. China is the
market leader for telematics in automobiles in the Asia Pacific area, followed
by Japan.
Automotive Telematics Market Segmentation:
Over the evaluation period, passenger vehicles
will dominate the worldwide telematics market. Telematic car services are
driving demand.
Fleet management for commercial vehicles is
expected to lead the worldwide automotive telematics market throughout the
assessment period. Fuel economy and lower business costs drive category growth.
Fleet management software helps businesses run smoothly by planning more
effective routes, identifying unsafe driver patterns, and minimizing fuel use.
Users may find business cars on demand, save engine fault codes, and identify
risky driving patterns including idling, abrupt braking, and speeding.
Over the assessment period, embedded systems will
dominate the worldwide automotive telematics market. Government mandates drive
segment expansion. Cloud-based services and cost-optimized service plans are
also expected to support the segment's growth.
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