Global Telematics In Automotive Market’s Growth Is Expected To Be At A Rate Of A Whopping 20% During The Forecast Period (2021-2023)

Global Telematics In

iCrowdNewswire   Jan 15, 2021  11:00 AM ET

Market Drivers and Top Restraints

The automotive telematics market could expect significant boost in the coming years with the introduction of integrated telematics. Emergence of policies pertaining to driver safety along with the mounting importance of smartphones could benefit the telematics in automotive market. Telecom operators are projected to provide immense scope due to prospects of risk management from 2017 to 2023. A meshed transportation network consisting of private and shared cars along with other modes of transportation is being introduced by mobility integrators in the worldwide telematics in automotive market.

Systems like vehicular emergency warning systems, automatic driving systems, Global Positioning System (GPS) navigation, wireless safety communications, and driving assistance systems are significant offerings of automotive telematics systems. The system based on informatics and telecommunications is merged with Wireless Access for Vehicular Environment (WAVE) and Intelligent Transportation Systems (ITS), which optimizes the overall functionality.  

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Vehicular accidents coupled with increasing occurrences of road mishaps are some additional factors promoting market growth. The need for safety measures has hiked up considerably in recent years, as a result of the rising number of vehicles. The market could intensify in the years to come, in response to the dire need to minimize human casualties as well as vehicular damages. Significant issues including need for effective vehicular mass transportation, disoriented transits, and traffic congestions take place owing to scaling traffic on the road. With intuitive vehicular guidance, telematics in automotive system is expected to offer a host of solutions in the subsequent years.

Market Opportunities

The telematics in automotive market is predicted to provide various opportunities to automotive suppliers for developing Human-Machine Interface (HMI) in the upcoming years. Pay-per-use, installation of black boxes for safety and security services, free premium services for navigation and entertainment applications and generation of subscription revenues are touted to be few more important short-term benefits furnished by the automotive telematics market in the next few years.

Another critical opportunity inundating the market includes the arrival of new players and progress of established vendors, owing to advancements in variant and diverse telematics systems.

Market Segmentation

The worldwide telematics in automotive market has been segregated with respect to type, application, systems, distribution channel, and vehicle type.

Depending on the type, the telematics in automotive market has been considered for embedded, integrated, and tethered.

Application-based segments mentioned in the report include vehicle tracking, fleet management, satellite navigation, vehicle safety communication, and others.

Systems-wise, the telematics in automotive market caters to driving assistance, global positioning system (GPS), telematics control unit, vehicular emergency warning systems, vehicle tracking systems, and others.

In terms of the vehicle type, the telematics in automotive market includes light commercial vehicles, passenger car, and heavy commercial vehicles.

The distribution channels in the market are original equipment manufacturers (OEMs) and aftermarket.

Regional Analysis

The telematics in automotive market has been studied by MRFR in the primary regions of Asia Pacific, North America, Europe, as well as the rest of the world (RoW).

North America is perceived to be the most profitable market for telematics in automotive. Rising adoption of automotive telematics system to enhance vehicle and passenger safety as well as fast adoption of sophisticated technology that improve vehicle performance benefits the market.

Europe is home to a huge number of automotive telematics system manufacturers and notes a surge in global export of automotive, which is why the region is counted among the strongest contenders. Soaring demand for wireless communication system in commercial and passenger vehicles has also stimulated growth of the telematics in automotive market in the region.

Rising seaborne trade, surging compliance with maritime safety norms, and increasing maritime tourism seems to be boosting market growth in Asia Pacific. Mounting demand for commercial ships, especially from countries like China, India, and Japan combined with the rising investment in autonomous ships is projected to help the market advance in the years ahead.

Top Players

The top vendors enlisted in the MRFR report include AT&T Inc. (the U.S.), TomTom International B.V. (Netherlands), Telogis (the U.S.), Visteon Corporation (the U.S.), Trimble, Inc. (the U.S.), Masternaut Limited (France), Verizon Communications, Inc. (the U.S.), Harman International Industries, Inc. (the U.S.), Continental AG (Germany), Trimble Inc. (the U.S.), Robert Bosch GmbH (Germany), Delphi Automotive PLC (the U.K.), Airbiquity, Inc. (the U.S.), and others.

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Key Questions Addressed by the Report

  • What was the historic market size?
  • Which segmentation (Product/ Capacity) is driving market?
  • What will be the growth rate?
  • How are the key players in this market?
  • What are the strategies adopted by key players?

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

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