Global Automotive Telematics Market was valued at US$ 10.82Bn in 2019 and is expected to reach US$ 41.30Bn by 2027, at a CAGR of 18.23% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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.
Major driving factors of the Automotive Telematics market are cause of 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, to brakes and entertainment. Less Adoption of Telematics System across the Developing Region and Data privacy will act as restraint to the market.
Based on the Services, Safety & security segment is expected to hold the largest share in the Automotive Telematics 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 in global for the past few years. Automotive Telematics is primarily driven by multi factors like increase in the number of accidents, rising vehicle thefts, security issues while travelling and the demand for navigation services etc. Safety & Security is playing 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.
In terms of region, Asia Pacific is expected to hold the largest share in the Automotive Telematics market during the forecast period. The Asia-Pacific is expected to grow faster than rest of the regions. The growth are 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 safety and security end-user segment will also be drivers of growth in automotive telematics 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 Automotive Telematics market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
Scope of the Report for Automotive Telematics Market
Global Automotive Telematics Market, By Type
Global Automotive Telematics Market, By Services
- Safety & security
- Information & navigation
- Remote diagnostics
Global Automotive Telematics Market, By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Global Automotive Telematics Market, by Region
- North America
- Asia Pacific
- Middle East & Africa
- South America
Key Players Operating in Automotive Telematics Market
- 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
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https://www.maximizemarketresearch.com/market-report/global-automotive-telematics-market/25872//Report Is Submitted By : Maximize Market Research Company
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