Indore, IN: Bizwit Research & Consulting LLP’s Recent Analysis on Global Automotive Telematics Market is poised to raise up to USD 170.3 Billion by 2030. Telematics systems are mainly adopted by automobile insurance companies, fleet management companies, and others to monitor location and behavior of a vehicle. Automotive Telematics combines wireless telematics devices, GPS systems, onboard vehicular diagnostics, and other devices to transmit and record vehicle data such as location, vehicle maintenance, and speed. This, in effect, is projected to raise demand for this technology in the forecast years. Across the globe, technology and data storage innovations in numerous vehicles are generating tremendous demand for Automotive Telematics for the analysis and improvement of driver safety and to improve vehicle performance in the automotive industry.
Geographically, the global Automotive Telematics industry has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific is projected to have the largest revenue market share during the forecast period due to increased acceptance of advanced technologies and gadgets, such as mobile phones, laptops, smart phones, tablets, telecommunications, and various other technological goods is one of the major factors responsible for the region’s domination. In terms of sales, Asia Pacific is the most lucrative and fastest developing region for Automotive Telematics due to rising demand of passenger and commercial vehicles.
The global Automotive Telematics market industry is highly competitive owing to the presence of several key manufacturers such as Ford Motor Company, Toyota Motor Corporation, Mercedes-Benz group AG Volkswagen Group, General Motors Company, Bayerische Motoren Werke GmbH, AB Volvo, Hyundai Motor Company, Tata Motors Ltd, Nissan Motor Co., Ltd and others.
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Key findings of the study suggest:
- Global Automotive Telematics Market industry is anticipated to grow with a healthy growth rate of more than 16.6% over the forecast period 2023-2030
- In the Application segment, Safety & Security emerged out as the leading market segment in 2022.
- Asia-Pacific is anticipated to drive regional growth owing to increasing consumer preference for the affordable aftermarket automotive telematics system in the area.
- North America is expected to grow at higher rate increasingly prioritizing the expansion of telematics-enabled systems for passenger vehicles during 2023-2030.
Bizwit Research & Consulting LLP has considered following segments for the study:
By Technology Type:
- Embedded
- Tethered
- Integrated
By Solution:
- Component
- Service
By Vehicle Type:
- Passenger
- Commercial
By Sales Channel:
- OEM
- Aftermarket
By Application:
- Information & Navigation
- Safety & Security
- Fleet Management
- Insurance Telematics
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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