Communication technologies or service offers which enable transferring of huge data inside and outside of passenger vehicles through real-time concept are called consumer telematics. “Telematics” broadly means a system through which electronic or mechanical devices communicate (collection, sending, storing of information) with either other devices or with human users over network.
With advancing of time and the usage, the term is now used specifically for on-board communication capabilities in automotive segment. Telematics therefore is now defined as the wireless connectivity established between vehicles and other systems like machine to machine, machine to human or direct to cloud.
Estimations and Projections as per Latest Market research:
$42 Billion was the recorded revenue generations of the Global Consumer Telematics Systems Market in 2014 according to IndustryARC research study. Considering the past, present and expected future trends, the market CAGR growth rate for the coming 5years is projected to be about 25%.
Currently the market penetration is seen at 15%, i.e., of all the vehicle units produced globally about 12% have some kind of telematics system (embedded, integrated or tethered) installed in them. Going by the market trends this figure is likely to go up-to 50%, in the market by 2020.
Scope and Potential Analyzed by IndustryARC:
Consumer telematics are end-user-targeted, vehicle-centric information and communication technologies (vehicle ICTs) and services. While safety and security are the cornerstones of consumer telematics offerings, the current global economic scenario may indicate a shift of focus onto technologies which provide the end-user with a system which ensures ease of driving along with ubiquitous net connectivity without compromising on safety and security.
With the fuel prices on the rise, applications that contribute to cost savings, by increasing engine efficiency will become a necessity in the future. Focus has also shifted to infotainment-not only in high end cars but also in mass production, which experts believe is going to be a big market in the coming days.
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What are Primarily Driving the Consumer Telematics Systems Market?
Automotive segment is no more the same as it was when it began. The sector has seen immense growth changes in various patterns with increased improvements lately owing to the successful advent of mobile data connectivity.
Smartphones demand and supply rate around the world has risen more than just sharply in the last few decades which have led us to the concept of high usage and adoption of data connectivity on a world scale. This concept of growth in number of phones and internet connection will be acting as one of the primary propellants of the Consumer Telematics Systems Market.
Vendors on Global Scale Merge & Implement Certified Steps:
The consumer telematics systems market is a lucky industry with keen industry players leading the growth structure. Numerous developments are taking place in the market like GENIVI Infotainment platform formed by automotive bigwigs like BMW, General Motors, Delphi and Intel.
Their aim is to provide an open source platform to successfully align demands/requirements, deliver reference implementations and also offer certification programs.
Other major industries playing an important role in the consumer telematics systems market are Ford, Toyota, Mercedes-Benz, Mitsubishi Motors. Tech-giants like Robert-Bosch, Continental AG, Omnitracs, Trimble Navigation Ltd, Fleetmatics GPS, Masternaut, MiX Telematics.
are the remaining prominent players of the industry.
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