Global Telematics in Automotive Market Overview:
The rising demand for telematics
displaying essential details & maintenance alerts, and vehicle health
diagnosis drives the market growth. Besides, the rising uptake of telematics in
automotive and the growing awareness for vehicle safety boosts the market size,
helping fleet managers to plan more effectively and maximize vehicle utilization.
The telematics in automotive market is garnering significant
traction. Surging demand for commercial vehicles integrated with telematics
assistant systems drives the market growth. Telematics solutions have a
significant impact on the transportation and logistics industry, supporting
higher productivity via an easy-to-use web-based interface.
With the penetration of the
internet and digitization across the automotive industry, the market is
projected to reach significant heights. In this regard, Market Research Future
(MRFR) states that the global telematics in automotive market is poised to
reach a substantial revenue growth by 2032, growing at a phenomenal CAGR during
the assessment period (2023 – 2032).
Get Free Sample Report of Telematics in Automotive Market
Telematics, the Convergence of
Telecommunications and Informatics
Telematics offers remote
communication and information processing, combining telecommunications and
informatics. With
the rising uses of the internet and communication technologies, telematics has
gained significant prominence. Today, telematics has become critically
important to successful fleet operations. The telematics in automotive market
is estimated to witness tremendous demand in the next few years due to the
emergence of driverless or autonomous cars.
Lack of Awareness for Telematics
Obstruct the Market Growth
The lack of awareness for vehicle
telematics advantages is a major factor impeding market growth. Many automakers
have started integrating telematics solutions in entry-level vehicles to
broaden their customer base. This would support the market growth during the
review period, demonstrating significant growth opportunities.
COVID- 19 Impacts on the Market
The recent COVID-19 pandemic
affected the telematics in automotive industry severely. Pandemic-led logistics
problems posed major challenges, such as obtaining raw components and
attracting workforces from quarantine required to develop telematics systems and
delivering end products to the market.
However, the market is gradually
picking up and is expected to grow exponentially further in 2021 and beyond.
Also, the market is projected to witness many innovative product launches
during the years to come.
Segmentation
The market is segmented into
system types, vehicle types, applications, distribution channels, and regions.
The type segment is sub-segmented into embedded, integrated, and tethered. The
system segment is sub-segmented into driving assistance systems, telematics
control units, global positioning systems (GPS), vehicle tracking systems,
vehicular emergency warning systems, and others.
The vehicle type segment is
sub-segmented into lightweight commercial vehicles (LCV), heavy commercial
vehicles (HCV), passenger cars, and others. The application segment is
sub-segmented into vehicle tracking, fleet management, satellite navigation,
vehicle safety communication, and others. The distribution channel segment is
sub-segmented into OEM and aftermarket. The region segment is sub-segmented
into Asia Pacific, Americas, Europe, and rest-of-the-world.
Regional Analysis
North America accounts for the
dominating region in terms of telematics in automotive market share. Increased
sales of vehicles integrated with advanced telematics, the strong presence of
major telematics providers in this region, and high spending on systems are
major trends driving the telematics in automotive market growth.
Also, the presence of leading OEM
players and growing transportation & logistics industries push the region's
telematics in automotive market size. Increasing awareness about driver safety
& fleet management, government regulations to improve road safety and the
proliferation of 5G & LTE technology and smartphones substantiate the
region's telematics in automotive market value.
Competitive Analysis:
Highly competitive, the telematics in automotive market appears fragmented due to the presence of several
well-established players. These players incorporate strategic approaches such
as mergers & acquisitions, collaborations, expansion, and
technology/product launches to gain a larger competitive share.
For instance, on Aug.17, 2021,
Road Ready, an advanced telematics & smart fleet technology company,
launched a new 5G Ready telematics system for commercial transportation. As the
industry transitions to 5G, fleets equipped with 5G Ready systems would be able
to operate their systems continuously without worrying about downtime caused by
the next network upgrade.
The new 5G Ready system is
optimized for advanced networks and designed to operate on 5G networks,
eliminating the risk of service disruption when the current 4G network is
phased out in the years to come.
Players leading the market are
Trimble, Inc. (US), TomTom International BV ( Netherlands), Masternaut Limited
(France), Telogis (US), Continental AG (Germany), Visteon Corporation (US),
Airbiquity, Inc. (US), Delphi Automotive PLC (UK), AT&T Inc. (US), Robert
Bosch GmbH (Germany), Harman International Industries, Inc. (US), Trimble Inc.
(US), and Verizon Communications, Inc. (US), among others.
Read more:
No comments:
Post a Comment