According to Market Research Future (MRFR)’s analysis, the global telematics in automotive market is projected to expand at a CAGR of 20% during the forecast period 2017 to 2023. Telematics has developed a core application in the automotive sector, and the growth of the sector is anticipated to propel the expansion of the market in the foreseeable future. —
Global Telematics in automotive Market, by application (Vehicle Tracking, Fleet Management, Satellite Navigation), systems (Driving Assistance systems, Telematics Control Unit, GPS,), Type, vehicle type, distribution channel, region - Forecast till 2023
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By type, the global telematics in automotive market has been segmented into embedded, integrated, and tethered.
By application, the telematics in automotive market has been segmented into vehicle tracking, fleet management, satellite navigation, vehicle safety communication, and others.
By systems, the global telematics in automotive market has been segmented into driving assistance systems, telematics control unit, Global Positioning System (GPS), vehicle tracking systems, vehicular emergency warning systems, and others.
By vehicle type, the telematics in automotive market has been segmented into passenger car, light commercial vehicles, and heavy commercial vehicles.
By distribution channel, the global telematics in automotive market has been segmented into OEM and aftermarket.
The global telematics in automotive market, by region, has been segmented into North America, Asia Pacific, Europe and Rest of the World. North America is expected to dominate the global market over the assessment period. The favorable enforcements promoting the adoption of telematics for road safety is poised to have a favorable impact on the expansion of the market in the foreseeable future.
Europe is likely to exhibit a similar trend and grow drastically over the next couple of years. The penetration of smart devices and the presence of key players are likely to influence the expansion of the telematics in automotive market positively through the forecast period.
Asia Pacific is a highly lucrative market and is poised to strike a relatively higher CAGR over the review period. The developments in the wireless technology coupled with its rising demand across the automotive sector are anticipated to drive the growth of the telematics in automotive market in the region.
Some of the key players profiled in the market are Trimble, Inc. (U.S.), TomTom International B.V.(Netherlands), Masternaut Limited (France), Telogis (U.S.), Visteon Corporation (U.S.), Airbiquity, Inc. (U.S.), AT&T Inc. (U.S.), Delphi Automotive PLC (U.K.), Continental AG (Germany), Harman International Industries, Inc. (U.S.), Trimble Inc. (U.S.), Robert Bosch GmbH (Germany), and Verizon Communications, Inc. (U.S.).
In February 2019, a leader in Home Telematics for property insurance carriers, Roost, has announced the addition of CFM Insurance to its Home Telematics Program (HTP).
In February 2019, a provider of industrial internet of things technology, I.D. Systems, has acquired the assets of the telematics provider CarrierWeb.
In January 2019, Camera Telematics, a leader in vehicle camera technology, has announced the launch of Street Angel dashcam in the U.K.
In January 2019, Minda Industries Ltd., India, has established ties with KPIT Engineering Ltd (KPIT) for telematics products.
In January 2019, the Rome-based provider of telematics and data analytics solutions, Octo Telematics, has announced its partnership with Qualitas, Mexico’s largest auto insurer.
In January 2019, TomTom NV, a Dutch company, has announced the sale of its telematics fleet-management business to Bridgestone Corp., a tire manufacturer, for USD 1 Bn.
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