Global Automotive Telematics Device Market Introduction
An automotive telematics device is fitted in the vehicle to store and transmit recorded or gathered driving data to the insurance company. Numerous telematics devices are available such as OBD dongle, black box, and windscreen device. The telematics device records the driving parameters, such as acceleration, braking, time of travel, and route of travel, and transmits the data to insurance companies in order to analyze and quote the insurance premium.
Global Automotive Telematics Device Market - Competitive Landscape
In 2018, Bosch Connected Devices and Solutions GmbH, a subsidiary of Robert Bosch GmbH, launched Telematics eCall Plug a device to detect crash and record data of driving behavior for telematics, insurance and fleet management purpose. The Telematics eCall Plug fits into the 12V cigarette lighter socket. The telematics eCall Plug uses the micro-controller and built-in sensors to track parameters such as braking and acceleration and transmits the data to the driver’s smartphone via Bluetooth.
Bosch Connected Devices and Solutions GmbH
Founded in 2013, Bosch Connected Devices and Solutions GmbH is presently based in Reutlingen, Germany. It is a fully owned subsidiary of Robert Bosch GmbH. The company aims to provide IoT devices for its application in telematics, fleet management, crash management, and insurance. The company has presence across the globe, including Germany, Hungary, U.S., Singapore, China, and India.
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Founded in 1919, Preh GmbH is currently based in Bad Neustadt an der Saale, Germany. Preh GmbH engages in the development and sale of IoT solutions and automotive electronics to the automotive industry. The company operates globally through its operations in China, U.S., Mexico, Sweden, Portugal, Romania, Poland, and Germany.
Global Automotive Telematics Device Market - Dynamics
Rapid rise of telematics insurance due to increase in insurance premium boosting the automotive telematics device market
Demand for Pay As You Drive type of insurance is rising, as it determines the premium based on miles driven, driving performance, route of travel, and other driving parameters. Insurance companies based in North America and Europe have started providing Pay How You Drive & Manage How You Drive type of insurance models as pilot projects. Rising consumer interest in telematics insurance, owing to its lower insurance premium, is driving the automotive telematics device market. Premium costs are rising due to rising claims expenditure, theft, and fraud. Consequently, rising awareness among consumers is prompting them to adopt telematics insurance in order to avail discounted prices.
Shift to connected vehicle technologies drives the automotive telematics device market
Demand for vehicle connectivity is fueling the adoption of automotive telematics device. Smartphone tethering and IoT support technologies in vehicles is driving the automotive telematics device market.
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Global Automotive Telematics Device Market - Segmentation
Based on device, the global automotive telematics device market can be segmented into
- Black Box
- Windscreen device
- OBD Dongle
- Cigarette Lighter Adapter
Based on vehicle type, the automotive telematics device market can be classified into
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
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