ID: MRFR/AM/1689-HCR | 111 Pages | Published By Swapnil Palwe on March 2023
Telematics in Automotive Market Size is expected to cross USD 72,780 Million at a CAGR of 21.1% during the forecast period 2022-2030
Telematics in automotive Market is expected to expand USD 72,780 million at a with a CAGR of 21.1% over the forecast period 2022 - 2030.
Telematics describes the technology used within fleet tracking to manage a vehicle or a fleet of vehicles and other assets, especially in applications such as trucking, site excavation, and construction. Automotive Telematics comprises incorporation of telecommunications, vehicular technology and data processing. The use of telematics in automobiles makes it a suitable mobile information station. Telematics provides live updates of a vehicle with high accuracy. The growth of the market is majorly driven by the increase in awareness among the public for benefits of the use of telematics in vehicles and the increase in road congestions and road accidents. Also, the increasing government support for use of telematics in vehicles and the boom in demand for wireless communication system by passengers will, further, fuel the growth of the market.
The governing bodies all across the globe are introducing new emission standards with the objective to reduce the amount of pollution caused by vehicles. The increasing sales of vehicles significantly leads to the declining air quality. Government organizations are upgrading emission standards for promoting the manufacturing and use of non-polluting green vehicles. The development and adoption of green vehicles is expected to contribute towards the reduction of greenhouse gas (GHG) levels in the atmosphere. Further, the rise in occurrences of road accidents is further expected to drive the market over the forecast period. There is an increase in the need for safety measures with the rising concerns for decreasing human casualties and vehicular damages. The increase in traffic leads to numerous issues, such as the need for effective vehicular mass transportation, disoriented transits, and traffic congestions on the road.
However, the growth of this market is expected to be restrained by the high cost of such telematics systems and the lack of technical knowledge. The entry of new players and untapped markets in developing nations are expected to be growth opportunities over the forecast period.
The major player operating in the market of global telematics in automotive market are Trimble, Inc.(U.S.), Masternaut Limited (France), TomTom International B.V.( Netherlands), Telogis (U.S.), and Visteon Corporation (U.S.). Continental AG (Germany), Airbiquity, Inc.(U.S.), AT&T Inc.(U.S.), Delphi Automotive PLC (U.K.), Harman International Industries, Inc. (U.S.), Robert Bosch GmbH (Germany), Trimble Inc. (U.S.), and Verizon Communications, Inc. (U.S.) are among others.
February 2023: Porsche upgrades Roads mobile app with AI functionality,At the center of the upgrade is a new route generator, which leverages AI to map out the optimal route between a start and end point selected by the user. Instead of displaying the fastest route between these points, Porsche has said that this algorithm will choose the most suitable one based on the user’s preference – with the OEM citing ‘curvy, balanced, or particularly dynamic’ options as key examples.
February 2023: Kia launches OTA update capabilities across full model line-up,While this technology will help enhance the navigation system and head-unit, and tackle potential software bugs, Kia confirmed that the first of these updates would offer more specific improvements. Among its highlights are a new Eco Design theme for its EVs that was previously exclusive to the EV6, new Sounds of Nature tracks, and updated climate and seat-climate controls.
Global Telematics in automotive market: Segmentation
The global telematics in automotive market has been segmented into the regions of North America, Asia Pacific, Europe and Rest of the World. Amongst these, North America region is expected to dominate the global automotive telematics system market, followed by Europe and Asia Pacific. In North America region, U.S. is the major user of automotive telematics system within the vehicle. Governments of such developed economies have introduced various regulations and policies with the objective of increasing the use of automotive telematics systems, for improving road safety. The market is further driven by the increase in adoption of advanced technology and gadgets such as mobile phones, smartphones, laptops and other related technological goods. Also, the major manufacturers are investing in new product developments by integrating new features in telematics devices for competing with the objective of retaining or increasing their market share.
Furthermore, the Asia Pacific region is projected to witness the highest growth over the forecast period owing to the increase in domestic demand for wireless communication system within the automobiles, majorly in the developing countries such as China and India. In Asia Pacific region, China dominates the telematics in automotive market, followed by Japan.
The report for Global Telematics in automotive Market of Market Research Future covers extensive primary research accompanied with the detailed analysis of qualitative and quantitative aspects by various industry experts, key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecast market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides detailed information about the strategies of the top companies in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2030 : USD 72,780 Million|
|CAGR||21.1% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||application, systems, Type, vehicle type and Distribution channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Trimble, Inc.(U.S.), Masternaut Limited (France), TomTom International B.V.( Netherlands), Telogis (U.S.), and Visteon Corporation (U.S.). Continental AG (Germany), Airbiquity, Inc.(U.S.), AT&T Inc.(U.S.), Delphi Automotive PLC (U.K.), Harman International Industries, Inc. (U.S.), Robert Bosch GmbH (Germany), Trimble Inc. (U.S.), and Verizon Communications, Inc. (U.S.)|
|Key Market Opportunities||Increase in adoption of advanced technology and gadgets|
|Key Market Drivers||
Telematics in automotive Market is expected to expand USD 72,780 Million over the forecast period 2022 - 2030.
The expected rate of growth for the telematics in automotive market is 21.1% over the forecast period 2022 - 2030.
High cost of telematics systems can pose a challenge to the market players.
North America is anticipated to dominate the telematics in automotive market.
The players of the telematics in automotive market expected to play key developmental role are Trimble, Inc.(U.S.), TomTom International B.V.(Netherlands), Masternaut Limited (France), Telogis (U.S.), Visteon Corporation (U.S.), Trimble Inc. (U.S.), Airbiquity, Inc.(U.S.), Continental AG (Germany), AT&T Inc.(U.S.), Delphi Automotive PLC (U.K.), Robert Bosch GmbH (Germany), Harman International Industries, Inc. (U.S.), and Verizon Communications, Inc. (U.S.).