The global vehicle telematics market is anticipated to show considerable growth over the forecast period owing to increasing security concerns of users. Growing need of car tracking and fuel-efficiency is anticipated to fuel revenue growth. Increasing penetration of smart-phone and tablets are also anticipated to fuel market growth. Favorable government safety rules and regulation are expected to provide positive avenues to industry growth. Popularity of embedded system has increased the demand for these systems in personal and commercial automobiles.
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Automobile manufacturers are using the combination of any of the devices such as mobile phone, tethered etc. and embed the system, to enhance intelligence and connectivity and enhance safety. Various car telematics applications are offered by industry participants such as roadside assistance and e-call, diagnostics, stolen automobile tracking, route optimization, navigation & infotainment, convenience applications, and traffic information. Technological development for lowering carbon emissions through telematics is anticipated to drive market growth over the next seven years. These technologies provide the benefit such as cost reduction and enhance safety for vehicle, driver and passenger.
Transportation and logistics is anticipated to be key end user segment owing growing use of it for the purpose of tracking and safety of the truck and goods. Technological developments in wireless networks between vehicles are expected to propel growth over the next seven years.
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Applications include pay-per-use and freemium services, bundled basics and security services, and premium subscription services. Bundled basic and security service are basic services and are related to security of the car, operational efficiency and emergency call services. Pay-per-use and freemium services are related to navigation, entertainment, and similar application that are supported by advertising and paid with each use. Third generation telematics introduction is anticipated to contribute to market growth. Third generation telematic service would be a combination of valuable inputs about automotive surroundings and Driver Interactive Vehicle Application (DIVA), voice activated web service, Vehicle Relationship Manager (VRM), and information related to performance of the automobile.
Key market participants include AirIQ Inc., ETAS Group, Agero Inc., OnStar Corporation LLC., WebTech Wireless Inc., Qualcomm Inc., Wireless Matrix Corporation and Trimble Transport & Logistics, and DigiCore Holdings Ltd.
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