Global Automotive Telematics Industry Expanding With A CAGR of 24.2% For The Forecast Period 2016-2024

Global automotive telematics market to expand at a compound annual growth rate of 24.2% over the forecast period i.e. 2016 to 2024. Moreover, the total shipments of OEM embedded telematic devices accounted for more than 12 million units across the globe in 2016, which is expected to grow at a compound annual growth rate of 20.9%.

Market Landscape

Electric vehicles market is flourishing across the globe on the back of rising need for advanced safety features within the vehicles and to provide smart mobility. Government mandates are also playing significant role in the development of automotive telematics market. For instance, Europe’s E-Call initiative to install automatic emergency call device and CONTRAN 245 mandate in Brazil to install vehicle tracking devices in all new vehicles sold are likely to upsurge the market growth in these regions.  Connected automobiles market share is also projected to grow from 28% in 2016 to more than 68% by 2025 of total vehicles across the globe.

According to Goldstein Research global automotive telematics market report; about 28% of new car customers prioritize car connectivity features over other conventional car features such as engine power or fuel efficiency, and 13%in developed countries would not even buy a car that is not connected to the internet today. Global annual industry related revenues from telematics connectivity are expected to rise six-fold from about EUR 37 billion in 2016 to approximately more than USD 150 billion in 2024.

Global Automotive Telematics Market Outlook, 2016-2024” covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, competitive analysis includes the in-depth analysis of the major players and leaders in automotive telematics industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler, and others. Our primary research team conducted various interviews, surveys and group discussions of industry professionals, aftermarket vendors and component suppliers to analyze the future prospects of the overall automotive telematics industry.

Global Automotive Telematics Market Segmentation can be classified on the basis of:-

By Telematics Devices

  • Embedded Devices
  • Tethered Devices
  • Smartphone Integration

By Communication Types

  • Vehicle-to-Vehicle
  • Vehicle-to-Infrastructure
  • In-Vehicle

By Applications

  • E-Call and roadside Assistance
  • Vehicle Diagnostics
  • Infotainment
  • Stolen Vehicle Tracking
  • Fleet Management
  • Other (Toll Collection and Road Charges etc.)

By Geography

  • North America Automotive Telematics Market (US, Canada) {Market Share (%), Market Size (USD Million), Sales (Million Units)}
  • Europe Automotive Telematics Market (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Million), Sales (Million Units)}
  • Middle East and Africa Automotive Telematics Market (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Million), Sales (Million Units)}
  • Latin America Automotive Telematics Market (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Million), Sales (Million Units)}
  • Asia PacificAutomotive Telematics Market (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Million), Sales (Million Units)}

 

Market Trends, Drivers and Challenges

Extensive adoption of big data analytics, artificial intelligence, and backoffice business processes (such as CRM, ERP and SCM) will provide better decision making improved safety and higher profitability to the companies. This will also offers solutions to the companies those are consumer focused, valued added may be monetized over the long term.North-America is the mature market in terms of implementation of telematic systems in cars with attach rate of 38%, which is closely followed by Europe with 21%.However, some factors associated with cyber security and data privacy concerns are expected to be the major challenge for automotive telematics market growth.By 2024, a projected 280 million connected vehicles will be on roads around the world. This makes framing a security policy across the entire value chain and at every point in the connective-vehicle solution, mandatory.

“Global Automotive Telematics Market Report” has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global automotive telematics market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Request Report Sample @ https://www.goldsteinresearch.com/request-sample/global-automotive-telematics-market-outlook-2024-global-opportunity-and-demand-analysis-market-forecast-2016-2024

About Goldstein Research

Based in U.S., Goldstein Research is a young business consulting and market research firm with vast reach across America, Asia and parts of Europe and the Middle East.  In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions. With 30+ domain experts and 50+ employees working day and night to crunch numbers and bring out the best and detailed market reports and forecasts, we strive to enable you to foresee upcoming market challenges and develop a robust business model and strategies, which would add to your profitability and market visibility as a brand.

Media Contact
Company Name: Goldstein Research
Contact Person: Steve blade
Email: stevebladeusa@gmail.com
Phone: +1-6465687747
Address:99 Wall Street, Suite No:- 527
City: New York,
State: NY
Country: United States
Website: http://www.goldsteinresearch.com/