Automotive Telematics Market: Current Analysis and Forecast (2021-2027)

Report Description

REQUEST FREE SAMPLE PDF

Global Automotive Telematics Market is anticipated to display a CAGR of around ~15% over the forecast period (2021-2027). Over time, smartphones have evolved into the primary mode of communication. It has opened up several possibilities for automakers to replace traditional computer-based infotainment systems with tablets and smartphones, lowering product costs. The growing trend of remaining connected to the outside world while traveling is prompting automakers to implement connectivity options into their vehicles in order to boost sales. Fuel theft monitoring, car insurance telematics, and eco-driving assistance are now all available through monitoring systems embedded in smartphone apps. As a result, cellphones are a less expensive and more handy gadget because they do not require in-vehicle electronics. For example, Driveway Software and Zurich Insurance Group collaborated to develop smartphone-based systems that monitor driving movements, quantify driver distraction, and provide feedback to drivers via their phones. For the safety and security of autos, governments in major countries throughout numerous regions have implemented strict rules and regulations. Many governments have mandated increased installation to track the location and behavior of cars. Many countries have made services such as theft tracking and emergency call systems mandatory

REQUEST FOR CUSTOMIZATION

Insights Presented in the Report

“Amongst Application, Fleet/Asset Management segment dominated the market in 2020”

Based on application, the market is segmented into Fleet/Asset Management, Navigation & Location-Based System, Infotainment System, Insurance Telematic, Safety & Security, and Others. The Fleet/Asset Management segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. Fleet/Asset management systems assist in the smooth operation of a business by recognizing unsafe driver habits, reducing excess fuel usage, and providing a strategy for more efficient routes. Operators can use fleet management systems to find vehicles on demand, gather and preserve engine problem data, and spot unsafe driving tendencies like idling, forceful braking, and speeding. For fleet operators, this driver data is priceless. Fleet management services are becoming more popular as they help fleet operators minimize expenses throughout their operations.

“Amongst Technology Type, Embedded segment dominated the market in 2020”

Based on technology type, the market is segmented into Embedded, Tethered, and Integrated. The Embedded segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. Because of the rise of cloud-based technology and the optimization of service plan prices, Embedded has carved out a significant portion of the global Automotive Telematics Market. The expansion of integrated automotive telematics is being driven by an increase in the frequency of road accidents and vehicle incidents. Furthermore, in recent years, the logistics sector’s demand for GPS navigation and emergency systems has grown by leaps and bounds

“Amongst vehicle type, Passenger Car segment dominated the market in 2020.”

Based on the vehicle type, the market is segmented into Passenger Car and Commercial Vehicle. The Passenger Car segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. One of the major drivers of category expansion is government mandates. The demand for advanced telematics passenger car services such as fuel & routing optimization, vehicle-maintenance alerts, vehicle-finder services, real-time tracking, and stolen-vehicle recovery, as well as the demand for safety and convenience-related advanced telematics passenger car services like fuel & routing optimization, vehicle-maintenance alerts, vehicle-finder services, real-time tracking, and stolen-vehicle recovery, are the main drivers for the segment market growth. The commercial vehicle telematics market is likely to benefit from the rising industrialization and development of the transportation and logistics industry. As a result of this advancement, trucks, and buses can now run at all hours of the day and night, seven days a week.

“Amongst Sales Channel, OEM segment dominated the market in 2020”

Based on sales channel, the market is segmented into OEM and Aftermarket. The OEM segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR XX% during the forecasted period. As most manufacturers are focused on providing advanced assistance features in their vehicles, OEM is expected to be a significant section of the market, growing at a significant rate throughout the projected period. Furthermore, in the last five years, the aftermarket section of the automotive telematics market has been spurred by the rapid use of telematics services for fleet management among commercial vehicles.

“Asia Pacific represents the largest market.”

Because of rising connectivity trends and government rules and regulations, the Asia Pacific region has accounted for a large share of the market’s expansion. Furthermore, the market’s growth will be fueled by OEM contributions to APAC automotive telematics and high demand for embedded systems or technology-based solutions, which are low-cost and easy to manage. Furthermore, rising government initiatives and stricter restrictions governing the integration of telematics systems for passenger safety and security in nations like India, China, Japan, and Australia are expanding the usage of vehicle telematics. Some of the major players operating in the market include Airbiquity Inc., Verizon Communications Inc., Masternaut Limited, Robert Bosch GmbH, Mix Telematics, Omnitracs, LLC, Zonar Systems, Harman International, Trimble Inc, and Teletrac Navman etc.

SPEAK TO ANALYST

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional & country-level analysis of the industry

Customization Options:

The Global Automotive Telematics Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

You can also purchase parts of this report. Do you want to check out a section wise price list?

Get in touch with team

Research Methodology

Research Methodology for Automotive Telematics Market (2020-2027)

Advanced communication technologies such as vehicle telematics are seeing widespread use in applications such as vehicular communication, safety, mapping systems, and road transportation, as the auto industry looks to tap into next-generation automotive capabilities. Furthermore, the vehicle telematics market is expected to rise due to enhanced broadband networks and the widespread use of smartphones for communication. Parallel to the continually rising popularity of in-built mobile communications among drivers, there has been a growing desire for effective satellite navigation services, resulting in strong demand for vehicle telematics technology. Because assistive technologies such as automotive telematics open up sales opportunities, carmakers have begun to include the system in their cars and market it as an enhanced version.

Seek More Details About Research Methodology

The automotive telematics system is a combination of information technology and telecommunication systems that are used to monitor the movements and locations of automobiles with the help of onboard diagnostic systems and the Global Positioning System (GPS). Some of the major key functions of these systems in autos include automatic crash notification, vehicle tracking, emergency phoning, driver behavior monitoring, navigation help, and on-road assistance services. In addition, rising demand for smartphone features in vehicles, automated driving technologies with passenger safety features, advancements in 5G connection, and increased government initiatives to establish an intelligent transportation system (ITS) are projected to fuel market demand.

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the Automotive Telematics through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Automotive Telematics, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are application, technology type, vehicle type, and sales channel. Further regional & country-level analyses were conducted to evaluate the overall adoption of Automotive Telematics in the global context.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as growing government incentives and demand for eco-friendly transportation, etc. Historical trends and their year-on-year impact on the market size and share were analyzed. Demand and the supply-side scenario were also thoroughly studied.

REQUEST FOR CUSTOMIZATION

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the market, and market shares of the segments and company. All the required percentage split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Automotive Telematics across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in Automotive Telematics in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

SPEAK TO ANALYST

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Automotive Telematics. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of elevation system, type, product type, structure, and region.

The main objective of the Automotive Telematics Study

The current & future market trends of Automotive Telematics were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Automotive Telematics in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study vehicle type, application, and model
• Defined analysis of the regulatory framework for the Global Automotive Telematics industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Automotive Telematics for the major regions & countries
• Major regions studied in the report include North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Italy, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), and Rest of World
• Company profiles of the Automotive Telematics players and the growth strategies adopted by them to sustain in the fast-growing market
• Deep dive regional & country-level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise price list?

Get in touch with team