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Telematics Services Market: Introduction

  • Telematics system collects and transmits data related to vehicle use, maintenance requirements, automotive servicing and several other such parameters to the distant operator for analysis and desired action
  • Rise in integration of connectivity technologies in vehicles for enhanced safety, comfort, maintenance, and operation has driven the demand for telematics services. Multiple companies have introduced telematics services such as online assistance, vehicle tracking, and maintenance updates to transform traditional transportation into modern age, data-driven, and connected mobility.

Key Drivers of Telematics Services Market

  • Consistent rise in the pace of industrialization and trade activities across the globe has fueled the number of on-road commercial vehicles significantly. The up-time and availability of these vehicles is of critical importance to fleet operators, as it directly impacts their revenue. Hence, several commercial fleet operators and automakers are preferring telematics services to access the condition of their vehicles, update maintenance records, provide roadside-assistance to drivers, track shipments, and numerous other such applications. For instance, AB Volvo partnered Lytx; similarly, Navistar International Corporation partnered with Zonar to provide telematics services on their commercial vehicles. Thus, expansion of the fleet of commercial vehicles is fueling the global telematics services market.
  • Automakers are constantly upgrading their vehicle models with the integration of latest connectivity technologies such as Internet of Things (IoT), LTE, GPRS, and radio connectivity to monitor and collect information related to the vehicle’s performance. This integration of technology enables vehicle owners and fleet operators to track operational efficiency of their vehicles and ensure its safety. These technologies are also being utilized for other purposes such as location-based marketing, pay-as-you drive insurance policies. Rise in number of applications is further driving the telematics services market across the globe.

Restrains in Telematics Services Market

  • Threat to data security is a major challenge for telematics services, as vital information such as the vehicle’s location, navigation and others is shared with third party. Moreover, these services are expensive and hence, numerous vehicle owners are reluctant to adopt it. These factors restrain the global telematics services market.

Impact of COVID-19 pandemic on Telematics Services Market

  • The COVID-19 pandemic disrupted automotive supply chains and hampered the sale of vehicles across the globe. This negatively impacted the demand for telematics services. Furthermore, miles travelled per commercial vehicles were reduced as trade and logistics activities were shut to contain the spread of corona virus, which further hindered the demand for telematics services.

Europe and North America to Hold Significant Share of Global Telematics Services Market

  • North America and Europe dominate the global telematics services market due to a well-established and prominent trucking industry in these regions. Additionally, governments in these regions have mandated the integration of emergency services in commercial vehicles. These favorable regulatory transformations and a rise in sale of commercial vehicles are propelling the telematics services market in North America and Europe.

Key Players Operating in Telematics Services Market

The global telematics services market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the telematics services market are:

  • AirIQ
  • ATX Group
  • BSM (WebTech Wireless)
  • CustomerServ, Ltd.
  • Digital Management, LLC
  • ETAS Group
  • GMV
  • Hitachi, Ltd.
  • MinorPlanet Systems
  • MiX Telematics
  • OnStar Corporation
  • Punch Telematix
  • QUALCOMM
  • Telefonaktiebolaget LM Ericsson
  • UD Trucks Corp
  • Wireless Matrix Corporation

Global Telematics Services Market: Research Scope

Global Telematics Services Market, by Application

  • Vehicle Tracking
  • Fleet Management
  • Navigation
  • Vehicle Safety Communication
  • Emergency Assistance
  • Service Support
  • Security
  • Others

Global Telematics Services Market, by Connectivity

  • Tethered
  • Embedded
  • Integrated

Global Telematics Services Market, by Vehicle Type

  • Passenger Vehicle
  • Hatchback
  • Sedan
  • Utility Vehicle
  • Light Commercial Vehicle
  • Trucks
  • Buses & Coaches

Global Telematics Services Market, by Sales Channel

  • OEM
  • Aftermarket

Global Telematics Services Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Nordic Region
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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