Overview:

The global automotive telematics market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Telematics system comprises of electromechanical, electronic, and electromagnetic devices that usually have silicon micro-machined components. They operate in conjunction with computer controlled devices and radio transceivers and monitor vehicle operations and provide the functional details precisely.

Market Dynamics:

Growing government policies and initiatives for increasing the safety of vehicles is the major factor driving growth of the global market. In addition, advancement in technology to increase the safety and in-vehicle experience of passengers has attributed to growth of the global market. For instance, in 2016, the European Union (EU) had approved the General Data Protection Act. The European Automobile Manufacturers’ Association (ACEA) has praised this move by the EU as it helps to address problems that are related to data security and accessibility of vehicle information by a third party. Also, increasing use of electronic vehicles is propelling the target market growth. Furthermore, growing numbers of road accidents is resulting in growth of global automotive telematics market.

Key Trends:

Rising focus on development of advanced safety systems by key players to increase vehicle and passenger safety is a key trend observed in the target market. For instance, in 2018, STMicroelectronics had announced that it had developed a cost-effective, next generation, digit-input automotive audio amplifiers (FDA803D and FDA903D) for vehicle safety equipment including acoustic vehicle alerting systems (AVAS) in hybrid and electric vehicles, telematics and emergency e-call equipment, and also enhanced high-end infotainment systems. These devices hold certifications by ISO 26262 ASIL (Automotive Safety Integrity Level).

Regional Analysis:

For detailed understanding of market dynamics, the global automotive telematics market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America holds the major revenue share in the global market, owing to strong presence of key players and high adoption rate for advanced automotive solutions in countries in the region.

In addition, rising commercial vehicle sales in emerging countries such as China and India is expected to boost the demand for automotive telematics in the Asia Pacific region over the forecast period.

Scope of the Report:

Detailed Segmentation:

Global Automotive Telematics Market, By Sales Channel:

• OEM
• Aftermarket

Global Automotive Telematics Market, By Vehicle Type:

• Commercial Vehicle
• Passenger Car
• Two-Wheeler

Global Automotive Telematics Market, By Application:

• Fleet/Asset management
• Navigation & location-based system
• Infotainment system
• Insurance telematic
• Safety & security
• V2X
• Others

Global Automotive Telematics Market, By Connectivity:

• Embedded
• Integrated smartphones
• Tethered

Key Players Covered:

Key players operating in the automotive telematics market includes, Cartrack, Masternaut Limited, Mix Telematics, Omnitracs, TomTom telematics BV , Trimble Inc, Verizon Connect, HARMAN International, I.D. Systems ,and Telectrac Navman.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Automotive Telematics Market by solution, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global automotive telematics market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.