The Consumer Telematics Market is driven by amplified market penetration of smartphones, growing demand for superior driving, high-speed internet technologies such as Long-Term Evolution (LTE).
Portland, OR -- (SBWIRE) -- 09/21/2017 -- Allied Market Research recently published an extensive study on the global Consumer Telematics Market for the forecast period of 2014 to 2020. The market is expected to gain a massive sum of $26.18 billion by 2020 registering a compound annual growth rate of 33.7% in the forecast period.
The report opens with a report description, key market segments and benefits, and various research methodology including primary and secondary research that were used to formulate this study.
The market overview contains market's definition and scope, value chain analysis, Porter's Five Force Analysis, and market dynamics such as drivers, restraints, and opportunities.
Porter's Five Force Analysis gives a detailed insight on the bargaining power of suppliers and buyers, the threat of new entrants, the threat of substitutes and competitive scenario.
The global consumer telematics market has various driving factors that cause the market to exponentially expand. Smart phones bring in constant connectivity and including government rules and regulations which contribute to the market growth. Other driving factors identified such as vehicle diagnostics and maintenance, superior driving experience, alert systems, safety and security, insurance sector, multiple connectivity solution types, and the advent of the electric vehicle are the driving forces.
Data analysis is identified as the big opportunity. Factors such as hacking, additional expenditure, non-availability of uninterrupted network connections, and lack of awareness are some of the major restraints.
There is a segregation for the consumer telematics market on the basis of solution type, application, and end user including geographical segmentation. Automotive OEM and aftermarket telematics are two major solutions. The global consumer telematics market is used in fleet assessment solutions, navigation and location-based solutions, infotainment, insurance telematics, V2V and V2I, telehealth solutions, and remote alarm and monitoring.
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The end users for the consumer telematics market mostly comprise cars (owned and rental based), insurance, healthcare, media and entertainment, vehicle manufacturers and dealers, and government agencies. The report has an in-depth insights on the key market trends, competitive scenario, growth factors and opportunities, and market size and forecast for each of the segmentation.
Geographically, the consumer telematics market is segmented for the areas of North America, Asia-Pacific, Europe, and LAMEA. The report highlights on the key market trends, competitive scenario, growth factors and opportunities, and market size and forecast.
The key market players outlined in the report are Verizon 103, Harman, TomTom, AT&T, Vodafone Group Plc, Ford Motors Co., BMW, Telefonica, Mix Telematics, and Trimble Navigation Limited. The global consumer telematics market report outlines the company overview, business performance, strategic performance, and SWOT analysis of each of the global players.
The global consumer telematics market report will provide valuable information to the leading global players and stake holders who are preparing to expand their market. This study will facilitate them to make important decisions before venturing into different regions. The in-depth insights on technological innovations will hold important to investors and key players who are formulating plans for their next strategic move.
Key points registered from the global consumer telematics market report:
- Current and future trends undertaken by the key market players are highlighted to determine the complete competitiveness of the market
- Porter's Five Force will give a detailed insight on the global market leaders and provide business strategies adopted by buyers and suppliers
- Outlining of the key market players will help understand their financial stance and the strategies and moves the companies adopted.
- The vale chain analysis highlights the importance of manufacturers, end users, and stakeholders including their role in the market
- The quantitative analysis for the forecast period of 2014 to 2020 is provided to elaborate the market potential.