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Telematics Global Market- OverviewThe telematics market is witnessing unprecedented demand due to its pervasive growth in the automobiles sector. Few factors such as wireless connectivity in automobiles, implementation of information & communication technology, use of renewable energy sources in electric vehicles, and telecommunication foraying in the automobiles industry in tandem with the rising call for on-road public safety. The system is further getting traction as the fleet management system is percolating the transportation sector with great intensity. At the same time, aftermarket segment can speed up the growth of the industry to satisfy the infotainment requirements and demand for satellite navigation. The global Telematics Market is bound to experience 20% CAGR during the forecast period (2016-2023) and reach a total valuation of USD 108 billion over the same period.
As per the reports of the Market Research Future (MRFR), demand for analytics in industries such as automotive, transportation, supply chain, logistics, healthcare, retail, and IT & Telecommunication can spur the growth of the telematics market. The report also contains an in-depth analysis of the segments and expert inputs with a holistic view of the market. Among other factors, fuel consumption can emerge as a significant contributor. Tracking vehicles to sort out fuel-related problems is a probable solution which can trigger the telematics market growth.
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Key Players:
Some of the major players in Global Telematics Market include Verizon Communication Inc.(U.S.), HARMAN International Industries Inc.(U.S.), Tom-Tom International BV (Netherland), AT&T (U.S.), Vodafone Group Plc. (U.K.), Ford Motor Company (U.S.), BMW Group (Germany), Telefonica SA (Spain), Mix Telematics (South Africa), and Trimble Navigation Ltd. (U.S.) among others.
Segmentation:
• On the basis of technology, the market is segmented into embedded, portable and hybrid.
• On the basis of services, the market is segmented into navigation, diagnostic, on-demand infotainment, and maintenance and security.
• On the basis of application, the market is segmented into commercial, automotive, IT & Telecommunication, healthcare, and government
Regional analysis
The global telematics market is estimated to grow at a promising rate in upcoming years. The geographical analysis of Telematics market marks the study for regions like North America, Europe (including Russia), Asia Pacific (including Australia and New Zealand) and rest of the world (including the Middle East, Africa, and Southern America). Of all the regions, the market is mostly dominated due to the higher adoption rate of technology in North America. The United States contributes a major portion to this growth, especially in commercial telematics. Also, high demand for premium cars with advanced safety and comfort features has driven high growth in telematics market.
Although the technology is still developing, the companies including various start-ups have begun conducting experiments on the road and have also partnered with telecommunication service providers to accomplish the task. Also, the region holds more than 60% of the top prominent players providing services in this market. North America is closely followed by Europe region, which is a leader considering the automobile industry. Europe and North America are the technologically advanced regions, and the factor affecting the growth of this market is the growing application of analytics in industries like transportation, automotive, supply chain, and logistics, retail, healthcare, and IT & Telecommunication and is increasing deployment of advanced telematics features in the end product. Asia-Pacific is expected to be the fastest growing region due to increasing initiatives by government.
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Intended Audience
• Telematics Market services providers
• Smart components manufacturers
• Government agencies
• Electronic components manufacturers
• Value-added resellers
• Auto parts suppliers
• Research Firms
• Automation & control networking technologies vendors
• Component manufacturers (sensors & controls)
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Contact Info:
Name: Abhishek Sawant
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Organization: Market Research Future
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Release ID: 501206