Automotive Telematics Market
Automotive Telematics Market (Application - Vehicle Tracking, Fleet Management, Satellite Navigation, and Vehicle Safety Communication; Vehicle Type - Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles) - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2017 - 2025
Press Release :
Global Automotive Telematics Market: Snapshot
The global automotive telematics market is expected to rise at a significant rate due to increasing technological advanced and rapid uses of the telematics solutions in vehicles. Moreover, rising demand for telematics in emergency warning, integrated hand-free calling facilities, satellite navigation, and automatic driving assistance systems is further driving the demand in the automotive telematics market. Comparatively low carbon emissions, high fuel efficiency, improved traffic flow, efficient productivity from drivers, safe driving, and fast and cheap road transport are some of the other factors expanding the global automotive telematics market.
In a recent report published by Transparency Market Research (TMR), the global market for automotive telematics is projected to rise at a healthy CAGR of 22.1% during the forecast period between 2017 and 2025. The valuation of the global automotive telematics market is expected to reach US$75.79 bn by the end of 2025 from US$10.15 bn earned in 2016.
Safety Communication Feature in Automotive Telematics to Drive Market Performance
The global automotive telematics market is classified on the basis of application and vehicle type. Based on vehicle type, light commercial vehicle, passenger vehicle, and heavy commercial vehicle are the segments in which market is divided. Of these segments, the passenger vehicle segment is dominating the global market and holds 55.3% of share in the global market. Growing demand for technologies such as smart driver assistance and satellite navigation are the key factors for the growth of this segment. Safety communication feature is an integral part of automotive telematics, which is likely to provide fillip to the market.
Vehicle tracking, fleet management, satellite navigation, and vehicle safety communication are the key areas in which automotive telematics is employed. Of these, the vehicle tracking segment held 30% share in 2016. Rising at this rate, this segment is likely to dominate the market during the forecast period as it is widely adopted in the transportation sector.
Flourishing Automotive Industry to Boost Demand for Automotive Telematics in Asia Pacific
Geographically, as the global automotive telematics market can be segmented into North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, Asia Pacific held 33.5% of share in the global market in 2016. Over the forecast period, this region is likely to dominate the market due to the high demand for emerging economies such as India and China. Moreover, the rising automotive industry on the accounts of advanced technologies is also expected to drive the automotive telematics market.
The report also provides details about the key players operating in the global automotive telematics market. Some of the leading players in the market are Visteon Corporation, Trimble, Inc., Masternaut Limited, Telogis, Continental AG, TomTom International B.V., and Airbiquity, Inc. Leading players are using different strategies to strengthen their position in the global market.
Global Automotive Telematics Market: Overview
This market research study analyzes the automotive telematics market on global basis and provides estimates in terms of revenue (US$Bn) from 2016 to 2025. It describes the market dynamics affecting the industry and analyzes their impact through the forecast period. Moreover, it highlights the significant opportunities for market growth in the next eight years. The market is segmented on the basis of geography into Europe, North America, Asia Pacific, Middle East and Africa (MEA), and Latin America. Thesesegments have been estimated in terms of revenue (US$Bn). In addition, the report has been segmented based on application, which includes, vehicle tracking, fleet management, satellite navigation, vehicle safety communication and others. By vehicle type the market is categorized into passenger vehicles, light commercial vehicles and heavy commercial vehicles. For better understanding of the automotive telematicsmarket, the study comprises market attractiveness analysis, where vehicle types are benchmarked based on their market scope, growth rate and market attractiveness. Competitive rivalry is projected to be high among key players to acquire higher share of the market in the coming years.
Global Automotive Telematics Market: Trends and Opportunities
Telematics in vehicles involves the receiving, sending and storing information with the help of telecommunication devices ensuring effective control on remote objects. In addition, vehicular telematics is the combination of applications of telecommunication and informatics in vehicles. Telematics is a versatile field, which includes vehicular technologies, telecommunications, road safety and transportation, instrumentation, wireless communications, sensors, internet and multimedia services in automobiles.In telematics, global navigation satellite system (GNSS), which is an integral part of automotive navigation systems offers integrated services with the help of computers and mobile communications.
The growing demand for advanced telematics components in automobiles is driving the automotive telematics market currently. Navigation technology, telematics, audio-video solutions, WiFi, Bluetooth, safety and security and intelligent driving solutions are few of the advanced telematics solution largely being demanded by the consumers. In addition, tracking of vehicles, trailer and container tracking, wireless safety communications, satellite navigation, mobile data, emergency warning system for vehicles and auto insurance are the major applications of telematics, which is driving the demand for the usage of telematics in vehicles, globally.
Global Automotive Telematics Market: Key Segments
The global automotive telematics market is fragmented with few medium and large companies. Entry into this market is not restricted as there is no monopoly of business and the market has huge scope and opportunity. However, setting up of manufacturing units for automotive telematics require huge capital and resource, which is not feasible for most of the small and medium sized companies. Increasing private equity investments and merger and acquisitions of companies in the automotive sector has been of great influence to the automotive telematics market. Significant growth in the automotive sector coupled with economic reforms in major developing countries has been able to bolster the growth of this market. Asia Pacific, Middle East and Africa, and Latin America are key markets for the future and are expected to provide huge opportunities to the global automotive telematics manufacturers because of the growth in the automotive sector and increasing demand for infotainment and wireless vehicle safety communication in vehicles.
Global Automotive Telematics Market: Competitive Landscape
The report also provides company market share analysis of the various industry participants. Acquisition is the main strategy being widely followed by leading market players. In case of an acquisition, the acquirer takes advantage of existing synergies. As a result, both companies are expected to emerge more profitable and stronger than before. Key players in the global automotive telematics market have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: Trimble, Inc., Masternaut Limited, TomTom International B.V., Telogis, Visteon Corporation, Continental AG, Airbiquity, Inc. and Agero, Inc.
The global automotive telematics market is segmented as below:
By Vehicle Type
The report provides a cross-sectional analysis of by application segment and by vehicle type segment with respect to the above mentioned regions