The automotive telematics market in terms of value is projected to grow $45 Billion by 2019, at a healthy CAGR of 35.54% between 2014 and 2019.
Dallas, TX -- (SBWIRE) -- 11/20/2014 -- The report “Automotive Telematics Market by Services (Safety & Security, Information & Navigation, Entertainment and Remote Diagnostics), by Type (Embedded, Tethered & Integrated), Vehicle Type (Passenger Car, HCV and LCV), and Region - Global Trends and Forecast to 2019” classifies and defines the automotive telematics market in terms of volume and value. The report highlights potential growth opportunities in coming years as well as covers review of the market drivers, restraints, growth indicators, challenges, legislation trends, market dynamics, competitive landscape, and other key aspects with respect to automotive telematics market.
Browse 98 market data tables, 97 figures spread through 198 Pages and in-depth TOC on “Automotive Telematics Market - Global Trends and Forecast to 2019”
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North America: Largest market for automotive telematics
The North American region comprises of U.S., Mexico, and Canada. Mexico is an emerging market in this region. The United States New Car Assessment Program (US NCAP) is a flagship consumer information program by the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA). In the coming years,US NCAP will adjust its rating system to reflect improvements in the safety features of U.S. vehicles. This will make it difficult for a vehicle to achieve top ratings unless it is equipped with safety systems, thus encouraging manufacturers to produce vehicles exceeding the minimum federal safety requirements. This is expected to positively affect the automotive telematics market. Also, mandatory regulations related to telematics services will also benefit the market.
Europe: Established market for automotive telematics system
Though the automotive industry in Europe is recovering from the downturn of 2009 and is now growing at a stable pace, the automotive telematics market is growing at a faster rate. Europe is a major market for automotive telematics and home to a number of automotive telematics hardware suppliers such as Robert Bosch (Germany), Magneti Marelli (Italy), Delphi (U.K.), and Continental AG (Germany). The concerns regarding safety of the driver and occupants has increased the usage of telematics services in this region. Mandating of equipping new vehicles with eCall has also increased the telematics market in Europe.
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Asia-Oceania: Automotive Telematics market shows healthy growth rate
The Asia-Oceania region includes countries such as China, Japan, India, South Korea, and Thailand. The automotive telematics market in Asia-Oceania is estimated to grow at a promising CAGR. The roadblocks for the market are identified as lack of infrastructure, lack of government initiatives, and low levels of awareness in the Asian region. The presence of major European and U.S. automobile manufacturers such as Ford, General Motors, Volkswagen, Audi, and BMW is driving the automotive telematics market in Asia-Oceania.
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