Current and future trends adopted by the key market players are highlighted to determine overall competitiveness of the consumer telematics market
Portland, OR -- (SBWIRE) -- 02/15/2018 -- Consumer Telematics Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $26.18 billion by 2020, registering a CAGR of 33.7% during the period 2014-2020.The study includes an analysis of drivers, restraints, opportunities and competition in the key geographies, which include North America, Europe, APAC and LAMEA.
Consumer telematics industry has established from customary navigation services to advanced navigation services used for vehicle tracking, monitoring, location-based services and traffic and weather information. The report segments the market by type viz., automotive OEM and aftermarket. The aftermarket type generates the maximum revenue and is expected to remain the largest revenue generator, contributing to over 55% of the total market revenue throughout the forecast period (2014-2020). On the other hand, the automotive OEM is expected to increase due to growing alliance between telematics service providers and device manufacturers.
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Consumer telematics includes passenger cars. Technology agreements and collaborations are the key strategies adopted by the market players to enhance their market share. Based on type of telematics, the market is segmented into Automotive Original Equipment Manufacturers (OEM) and Aftermarket. The traditional automotive OEM emphases on traffic safety while aftermarket highlights media, entertainment and other personalized services.
Currently, Aftermarket has a relatively high market share as compared to Automotive OEM. Vehicle manufacturing companies, in alliance with telematics providers can lead to high growth of Automotive OEM segment.
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The report also outlines the competitive environment of the consumer telematics market, providing a comprehensive comparative study of the key strategies adopted by the market leaders to grow and gain a competitive edge. Along with product launches, alliance and partnership are key strategies practiced to gain a higher market share. Companies such as AT&T, Harman and TomTom have partnered with different industry players to gain access to the market and technologies. Prominent companies profiled in the report include Verizon, Harman, TomTom, AT&T, Vodafone, Ford Motors, BMW, Telefonica, Mix Telematics and Trimble Navigation Ltd.
CONSUMER TELEMATICS MARKET SEGMENTATION:
-AUTOMOTIVE OEM SERVICES
BY END USER
-Car(owned and rental based)
-Media & Entertainment