Global Automotive Telematics Market by Channel Types, Vehicle Types, Connectivity Solutions, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026
The global automotive telematics market was valued at USD 64 billion in 2019 and is expected to reach USD 320.6 billion by 2026, expanding at a CAGR of around 26.8 % during the forecast period, 2020–2026. The growth of the market is attributed to increasing concern for security of driver, passengers, and goods.
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Telematics is a system which involves informatics and telecommunications technologies including sensors, instruments for wireless communication for road transport & safety. It includes everything from GPS to navigation systems. It has devices and technologies to store and transmit the information to control remote objects, to operate applications on remote object. Association of Equipment Management Professionals (AEMP) has developed guidelines, regulations, and standards for telematics industry.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing demand for enhanced safety features is one of the primary factors driving the growth of the market.
- Additional features like speed monitoring and health of the vehicles in terms of gas levels and heating levels aiding in better management and efficiency of vehicles. This, in turn, is fueling the growth of the market.
- Insights of traffics and congestions on road help to evade the route easily with suggestions of shortest distance available is boosting the growth of the market.
- Threat of data hacking, high cost of installation, low internet connectivity in certain geographical areas are hindering the growth of the market.
- Smart transportation system, better fleet management, ease of decision making and enhanced vehicle performance are the factors which are expected to foster the growth of the market in forecasted period.
Competitive Landscape:
Major companies in global automotive telematics market includes Agero Inc, Airbiquity Inc, Continental AG, LG Electronics Inc, Panasonic Corporation, Robert Bosch GmbH, TomTom International BV, and Trimble Inc. The market players are involved in developing breakthrough tracking and monitoring solutions to gain traction in global marketplace.
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The global automotive telematics market has been segmented on the basis of
Channel Types
- OEM
- Aftermarket
Vehicle Types
- Commercial Vehicle
- Passenger Car
- Two-Wheeler
Connectivity Solutions
- Embedded
- Integrated smartphones
- Tethered
Applications
- Fleet/Asset management
- Navigation & location-based system
- Infotainment system
- Insurance telematic
- Safety & security
- V2X
- Others
Regions
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- automotive telematics market Overview
- Global automotive telematics market Analysis and Forecast by Type
- Global automotive telematics market Analysis and Forecast by Application
- Global automotive telematics market Analysis and Forecast by Sales Channel
- Global automotive telematics market Analysis and Forecast by Region
- North America automotive telematics market Analysis and Forecast
- Latin America automotive telematics market Analysis and Forecast
- Europe automotive telematics market Analysis and Forecast
- Asia Pacific automotive telematics market Analysis and Forecast
- Middle East & Africa automotive telematics market Analysis and Forecast
- Competition Landscape
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