Automotive Telematics Market to Reach USD 415.93 Billion By 2027 | CAGR of 26.4%: Emergen Research

VANCOUVER, BC, Sept. 24, 2020 /PRNewswire/ -- The Global Automotive Telematics Market is projected to reach USD 415.93 billion by 2027, according to a recent report by Emergen Research. Stringent government rules in association with property identification, coupled with increased usage of cloud-based technology, is likely to drive the expansion of the global automotive telematics market.

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On the other hand, the threat of knowledge hacking, high installation price, and, therefore, the dearth of unceasing and seamless net property impede the market to some extent. The safety quotient associated with the increase in performance of the autonomous vehicles is likely to drive the market growth. Moreover, a variety of business selections for different fleets of autonomous vehicles is anticipated to bring a wide array of opportunities in the market.

The rise in the adoption of web-based services and the convenience of advanced communication technology offer vast growth opportunities for fleet management businesses. Major technologies utilized in the market include GPS trailing systems, telematics, and M2M communication, among others. In telematics and M2M devices, with a sturdy communication network, fleet management activities are often simply handled and have a fast access and response mechanism. Moreover, many solutions offered within the automotive telematics market collect, manage, explore, interpret, and analyze the driving information of a selected driver. Good fleet management solutions generate an enormous volume of knowledge and help establish new business avenues in autonomous driving.

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Key Highlights From The Report

    --  Vehicles across every fleet have become technology dependant, the
        association of which is predicted to drive the automotive telematics
        market. Moreover, high fuel economy and low carbon emission are the
        prime concern of vehicle owners. Thus, telematics service suppliers
        facilitate improving the ownership cost of a vehicle.
    --  The fleet management services segment occupies a significant part of the
        market share when it comes to areas of applications. The adoption of
        advanced technologies and telematics services and technology in vehicles
        to increase their safety is anticipated to boost the growth of the
        automotive telematics market.
    --  Vehicle trailing and eCall options offered by telematics services are
        extremely prevalent among vehicle owners. The widespread population
        across Asia Pacific regions makes recovery of purloined vehicles within
        the region difficult. However, vehicle trailing is predicted to make
        tasks notably easier for government authorities.
    --  The North American region is a dominant telematics market and is
        anticipated to witness significant gains on account of a growing demand
        for luxury vehicles throughout the U.S., Canada, and Mexico The Asia
        Pacific region held a significant portion of the market in 2019 ideally
        because of the presence of a wide variety of vehicle fleet and an even
        higher rate of adoption of automotive telematics across countries namely
        India and China.
    --  Key participants include Trimble Inc., Omnitracs, Verizon, I.D.Systems
        Inc., Masternaut Limited, Airbiquity Inc., TomTom Telematics B.V, Harman
        International Industries, Inc., MiX Telematics, Teletrac Navman, and
        Cartrack.

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For the purpose of this report, Emergen Research has segmented the Global Automotive Telematics Market on the basis of vehicle type, application, connectivity solution, and region:

Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)

    --  Passenger Vehicle
    --  Commercial Vehicle
    --  Two-Wheeler

Application Outlook (Revenue, USD Billion; 2017-2027)

    --  Asset/Fleet Management
    --  Navigation and Location Based System
    --  Infotainment System
    --  Insurance Telematics
    --  Safety and Security
    --  V2X

Connectivity Solution Outlook (Revenue, USD Billion; 2017-2027)

    --  Embedded
    --  Integrated Smartphones
    --  Tethered

Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

    --  North America

a. U.S.

b. Canada

c. Mexico

    --  Europe

a. UK

b. Germany

c. France

d. BENELUX

e. Rest of Europe

    --  Asia Pacific

a. China

b. Japan

c. South Korea

d. Rest of APAC

    --  Latin America

a. Brazil

b. Rest of LATAM

    --  MEA

a. Saudi Arabia

b. UAE

c. Rest of MEA

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