Triton Market Research presents the Global Automotive Telematics Market report segmented by Application (Navigation & Location-Based System, Safety & Security, Fleet/Asset Management, Insurance Telematics, Infotainment System, Other Applications), Type (Integrated Smartphones, Tethered, Embedded), End-user (Aftermarket, Original Equipment Manufacturers (OEM)), Vehicle (Commercial Vehicles, Passenger Cars, Two-Wheeler), and Regional Outlook (, North America, Asia-Pacific, Middle East and Africa, Europe, Latin America).
The report further includes the Market Summary, Industry Outlook, Technology Snapshot, Impact Analysis, Porter’s Five Forces Analysis, Market Maturity Analysis, Key Buying Impact Analysis, Key Market Strategies, Drivers, Challenges, Opportunities, Analyst Perspective, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).
According to Triton’s research report, the global automotive telematics market is estimated to progress at a CAGR of 16.06% during the forecast period 2023-2030.
Automotive telematics tracks vehicular movement via computer, smartphone, tablet, etc. It collects data from the car to monitor a vehicle’s speed, routes, halt locations, etc.
Factors such as growing demand for telematics from fleet operators and improved vehicle safety are expected to drive the automotive telematics market. The deployment of telematics solutions has largely benefited fleet operators in terms of productivity, efficiency, cost control, and compliance. Hence, telematics ensures vehicle safety and reduces idle time for fleet owners, which drives their demand.
However, the lack of connectivity infrastructure, the risk of a data breach, and expensive solutions are expected to restrict the automotive telematics market’s development.
The Asia-Pacific is estimated to witness the fastest growth over the forecast period. The region’s growth is prompted by government initiatives and developing telecom infrastructure. In China, the government has mandated location-based systems in buses and trucks to improve safety levels. This has ultimately increased the demand for built-in connectivity in other vehicles, influencing OEMs to adopt telematics solutions. Therefore, these factors fuel the overall market’s growth across the APAC region.
Solera Inc, TomTom NV, Verizon Communications Inc, Continental AG, Inseego Corp, Robert Bosch GmbH, Airbiquity Inc, AT&T Inc, Harman International, Teletrac Navman US Ltd, Geotab Inc, Mix Telematics, Samsara Inc, and Trimble Inc are major companies in the automotive telematics market.
Vehicle owners have multiple options for outfitting telematics services within their vehicles, ranging from DIY add-on devices to professional systems. This has led several companies to offer telematics solutions. For instance, insurance companies bundle telematics devices with their motor insurance policies. Also, several OEMs offer built-in telematics systems to differentiate offering, helping fleet operators optimize and manage their fleets. These factors suggest that the threat of new entrants is moderate over the forecast period.
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