The global automotive telematics market to reach US$75.79 bn by the end of 2025, from its valuation of US$10.15 bn in 2016.
Albany, NY -- (SBWIRE) -- 03/19/2018 -- Recent innovations in automotive telematics have greatly pumped up their demand. Considering this, technological applications of telematics solutions in vehicles have completely transitioned over the years. Various factors are steering this paradigm shift. For instance, the present generation of automobile buyers give preference to value-added features in their vehicles besides driving. Infotainment has emerged as a basic requirement in vehicles to woo customers. Moreover, the demand for telematics features such as satellite navigation, automatic driving assistance systems, emergency warning, integrated hand-free calling facilities, the internet, and WiFi is surging. Spurred by these factors, the global automotive telematics market is forecast to exhibit an impressive 22.1% CAGR between 2017 and 2025.
In the last five years the market has witnessed robust growth in response to the expansion of the automotive industry. The market is expected to gain increased traction with the increasing demand for high-performing passenger vehicles worldwide.
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This market research study analyzes the automotive telematics market on global basis and provides estimates in terms of revenue (US$Bn) from 2016 to 2025. It describes the market dynamics affecting the industry and analyzes their impact through the forecast period. Moreover, it highlights the significant opportunities for market growth in the next eight years. The market is segmented on the basis of geography into Europe, North America, Asia Pacific, Middle East and Africa (MEA), and Latin America. Thesesegments have been estimated in terms of revenue (US$Bn). In addition, the report has been segmented based on application, which includes, vehicle tracking, fleet management, satellite navigation, vehicle safety communication and others. By vehicle type the market is categorized into passenger vehicles, light commercial vehicles and heavy commercial vehicles. For better understanding of the automotive telematicsmarket, the study comprises market attractiveness analysis, where vehicle types are benchmarked based on their market scope, growth rate and market attractiveness. Competitive rivalry is projected to be high among key players to acquire higher share of the market in the coming years.
Global Automotive Telematics Market: Trends and Opportunities
Telematics in vehicles involves the receiving, sending and storing information with the help of telecommunication devices ensuring effective control on remote objects. In addition, vehicular telematics is the combination of applications of telecommunication and informatics in vehicles. Telematics is a versatile field, which includes vehicular technologies, telecommunications, road safety and transportation, instrumentation, wireless communications, sensors, internet and multimedia services in automobiles.In telematics, global navigation satellite system (GNSS), which is an integral part of automotive navigation systems offers integrated services with the help of computers and mobile communications.
The growing demand for advanced telematics components in automobiles is driving the automotive telematics market currently. Navigation technology, telematics, audio-video solutions, WiFi, Bluetooth, safety and security and intelligent driving solutions are few of the advanced telematics solution largely being demanded by the consumers. In addition, tracking of vehicles, trailer and container tracking, wireless safety communications, satellite navigation, mobile data, emergency warning system for vehicles and auto insurance are the major applications of telematics, which is driving the demand for the usage of telematics in vehicles, globally.
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Global Automotive Telematics Market: Key Segments
The global automotive telematics market is fragmented with few medium and large companies. Entry into this market is not restricted as there is no monopoly of business and the market has huge scope and opportunity. However, setting up of manufacturing units for automotive telematics require huge capital and resource, which is not feasible for most of the small and medium sized companies. Increasing private equity investments and merger and acquisitions of companies in the automotive sector has been of great influence to the automotive telematics market. Significant growth in the automotive sector coupled with economic reforms in major developing countries has been able to bolster the growth of this market. Asia Pacific, Middle East and Africa, and Latin America are key markets for the future and are expected to provide huge opportunities to the global automotive telematics manufacturers because of the growth in the automotive sector and increasing demand for infotainment and wireless vehicle safety communication in vehicles.
Global Automotive Telematics Market: Competitive Landscape
The report also provides company market share analysis of the various industry participants. Acquisition is the main strategy being widely followed by leading market players. In case of an acquisition, the acquirer takes advantage of existing synergies. As a result, both companies are expected to emerge more profitable and stronger than before. Key players in the global automotive telematics market have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: Trimble, Inc., Masternaut Limited, TomTom International B.V., Telogis, Visteon Corporation, Continental AG, Airbiquity, Inc. and Agero, Inc.
The global automotive telematics market is segmented as below:
Global Automotive Telematics Market: By Application
Vehicle Safety Communication
Global Automotive Telematics Market: By Vehicle Type
Light Commercial Vehicles
Heavy Commercial Vehicles
Global Automotive Telematics Market: By Geography
Rest of Europe
Rest of Asia Pacific
Middle East and Africa (MEA)
Rest of Middle East and Africa
Rest of Latin America
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