The automotive telematics market is expected to witness a CAGR of 16.4%, and is projected to reach USD 66,880.0 Million by 2023. Factors propelling the growth of automotive telematics market include increasing adoption and installation of advance technology, continuous integration of vehicles with telematics, and government stringent regulation to increase safety features in vehicles.
The report segments the automotive telematics market by type (tethered, embedded, integrated, others), by technology (telematics system architecture, telematics services, others), by services (satellite navigation, vehicle safety communication, entertainment, fleet management, remote diagnostics, vehicle tracking, others), by vehicles market (passenger vehicles, light commercial vehicles, heavy commercial vehicles), and by region (North America, Europe, Asia-Pacific, South America, Middle East & Africa). The report studies the global automotive telematics market over the forecast period (2017-2023).
Telematics is a branch of information technology designed for vehicles for long distance transmission of real time computerized information for example embedded telematics and integrated smart phone telematics. Telematics is a human machine interface used to enhance the vehicle system and to ensure fuel efficiency and driver safety. Telemetry transmits the measurement from the location of origin to the location of consumption without effecting control on remote objects. Vehicle telematics find its application in monitoring the location and movements of fleet of vehicles.
Key Findings of the Global Automotive Telematics Market Report
- Vehicle tracking segment is estimated to grow at a rapid rate, owing to increasing number of trucks and trailers. Vehicle tracking is used to track the movement of the vehicles with the help of GPS receiver and electronic devices installed in the vehicles
- By vehicles market passenger vehicles segment is estimated to be the largest segment owing to installation of new technology like safety communication in passenger vehicles
- Many companies including Trustonic are collaborating with systems-on-chips (SoCs) specialist MediaTek to provide highly secure telematics in automobiles for connected vehicles
- Geographically, Asia-Pacific is expected to be the largest automotive telematics market, owing to the improving wireless communication system in countries such as China & India. North America and Europe is also expected to register a significant growth in the forecast period
- Key players in the global automotive telematics market include Trimble, Inc., Masternaut Limited, TomTom International B.V., Telogis, Visteon Corporation, Continental AG, Airbiquity, Inc. and Agero, Inc, Continental Ag, Robert Bosch Gmbh among others.
Automotive Telematics – Design for Superior Connectivity
Automakers are innovating and implementing new technology to increase their market share, by integrating new features and applications of telematics devices in their product. Telematics is used to monitor fleet of vehicles and provide required information while vehicles are in motion by the use of telecommunications and informatics applied in the vehicles. Telematics is very helpful to increase the business productivity, lower operational cost, increase fuel efficiency and improve vehicle health. Automakers are focusing on safety and also beginning to prioritize the fuel efficiency. Telematics helps to improve route choice, track and manage speed and help to maintain vehicle engine performance. The challenge for the companies is to innovate without compromising the safety and privacy of public telematics is the option which seems to be the best solution.
Global Automotive Telematics Market- Regional Insight
In Asia-Pacific, China is forecasted to dominate the market owing to huge demand of automobiles coupled with technological advancement and growing infrastructure. Indian market is also set to expand at a high rate due to government initiatives and improved telecom infrastructure. Technological advancement in mobile phones, smart phones, and telecommunications has been witnessed in Asia-Pacific region. Increased demand for safety and security and advanced telematics systems are predominant in Japan. Increasing demand for advanced driving systems, fleet management solutions and vehicle tracking applications in automobiles is propelling the growth of automotive telematics market in Europe.