Automotive Telematics Market 2019
Telematics is a methodology for monitoring a vehicle’s location and movement by combining Global Positioning System (GPS) with on-board diagnostic systems. The speed and internal actions of vehicles can be registered with the aid of the GPS and diagnostics system. Automotive telematics solution consists of three basic parameters: telematics control unit (TCU), telematics cloud server, and front-end web app and mobile app. The global size of the automotive telematics market in 2018 was estimated at $50.4 billion and is projected to reach $320.6 billion by 2026, showing a CAGR of 26.8% between 2019 and 2026.
The following key manufacturers covered in this report
The main factor driving the market share of automotive telematics is the increased incorporation of real-time fleet monitoring systems in vehicles and the growing use of cloud-based technology for automotive telematics. Telematics technology enables both ride-sharing companies and riders to keep drivers closer to each other, handle ride-based transactions, and track vehicle movement easily and securely from smartphones.
Parallel to the popularity of in-built mobile communications among drivers, there has been a growing demand for effective satellite navigation services, generating demand for automotive telematics technology. The driving factors for the automotive telematics market are the implementation of integrated telematics along with driver safety policies and the growing importance of smartphones. Automotive telematics systems have generated systems such as automatic driving systems, vehicle emergency warning systems, driving assistance systems, global positioning system (GPS) navigation, and wireless security communications.
The automotive telematics market is segmented on the basis of channel type, vehicle type, connectivity solutions, application. Based on channel type, it consists of OEM and aftermarket. By vehicle type, it is categorized into passenger, commercial vehicles, and two-wheeler. By application, the automotive telematics market is classified into fleet/asset management, navigation and location-based system, infotainment system, insurance telematics, safety and security, and V2X. By connectivity solution, it is divided into embedded, integrated smartphones, and tethered. Market segmentation by type includes type 1, wifi type, and others. Segmentation by end users includes repair technicians, state agencies, vehicle owners, vehicle and engine manufacturers. The OEM segment of the automotive telematics market was the highest contributor to revenue in 2018, accounting for $33.7 billion, and is estimated to reach $225.6 billion by 2026, registering a CAGR of 27.9%.
North America, followed by Europe, is expected to have a substantial share of the global automotive telematics market. Japan and the United States are the most important users of automotive telematics. It is estimated that emerging markets such as India and China will boost the global market for automotive telematics. Due to its growing demand for energy-efficient vehicles along with the navigation feature as a standard option to address issues like fuel prices, increasing number of accidents and vehicle thefts, Asia-Pacific is one of the fastest emerging markets.
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New entrants have taken advantage of the emerging opportunities in the automotive telematics business. On the other hand, by means of productive mergers and acquisitions, established market players are focusing on expansion and simultaneous growth.
Table of Contents –Analysis of Key Points
1 Automotive Telematics Market Overview
2 Manufacturers Profiles
3 Global Automotive Telematics Market Competition, by Players
4 Global Automotive Telematics Market Size by Regions
5 North America Automotive Telematics Revenue by Countries
6 Europe Automotive Telematics Revenue by Countries
7 Asia-Pacific Automotive Telematics Revenue by Countries
8 South America Automotive Telematics Revenue by Countries
9 Middle East and Africa Revenue Automotive Telematics by Countries
10 Global Automotive Telematics Market Segment by Type
11 Global Automotive Telematics Market Segment by Application
12 Global Automotive Telematics Market Size Forecast (2019-2025)
13 Research Findings and Conclusion
List of Tables and Figures
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