The
global Automotive Telematics Market size is expected to
reach USD 170.43 billion by 2030 with a CAGR growth of 16.6% over the
forecasted period, according to a new report by Grand View Research, Inc.
Increasing emphasis on improving the fuel efficiency, improvement in tracking
vehicle location & speed and, rising focus on the passenger safety &
experience are factors driving the growth of the market.
Besides,
the increasing government emphasis on the development of safer and smarter
infrastructure by improving internet connectivity is expected to propel the
growth of the market during the forecast period. For instance, in 2016 Russian
government mandated the implementation of the emergency call-built system in
the locally built and sold vehicles in the country, the law has similar
standards based in Europe.
Increasing
integration of the real-time fleet management and monitoring system by the OEM
is driving the demand for automotive telematics systems in the market. For
instance, In August 2022, Lighting eMotors launched Lighting Insights, it is an
extension of the existing telematics system to manage and monitor the lighting
fleet assets in real-time. The telematics system monitors the state of charge,
vehicle efficiency, location, charge time scheduling, driving hours, payment
method, load management, and others.
The
cybersecurity of the automotive telematics system is one of the major concerns
for automobile manufacturers in the market. The telematics systems software is
connected through Wi-Fi, and Bluetooth in the vehicle. The real-time data
procured through these softwares have a high possibility of tampering during
cyber-attacks. Thus, to overcome these challenges key players such as Lighting
eMotorf automotive telematics is offering encrypted 4G connection for real-time
monitoring of the real-time analytics models.
Increasing
integration of the automotive telematics system in the vehicle to track driver
behavior and tendencies has benefited the insurance companies at large.
As,
the data collected through the car telematics system is used for determining
the policy cost of the vehicle, and their insurance premium. Thus, the rising
demand for vehicle data collection through telematics devices by the insurance
sector is expected to create new growth opportunities for the market.
List of Key players in the Automotive Telematics Market
- Ford Motor
Company
- Toyota Motor
Corporation
- Mercedes-Benz
AG
- Volkswagen
AG
- General
Motors Company
- BMW Motors
- AB Volvo
- Hyundai
Motor Company
- Tata Motors
- Nissan Motor
Co., Ltd.
Related Press
Release@ Automotive Telematics Market Report
Automotive Telematics Market Report Highlights
- The market
for automotive telematics is valued at USD 49.85 billion in 2022 and is
projected to witness considerable growth during the forecast period
- The rising
use of cloud-based technology and increase implementation of the real-time
fleet management system in vehicles is driving the market
- The
government’s initiatives to boost cellular network service and
connectivity infrastructure in the emerging economies of the world is
expected to create new growth opportunities for the market
- North
America region is expected to witness significant growth in the market;
the growth of the region is attributed to government mandates to implement
a security system
- Increasing
automobile manufacturers’ focus on developing telematics systems
compatible with all vehicle models regardless of the automaker is
propelling the growth of the market
Request a Free Consultation@ https://www.grandviewresearch.com/request-free-consultation/1800/rfc
Automotive Telematics Market Segmentation
Grand
View Research has segmented the global automotive telematics market based on
technology type, solution type, vehicle type, sales channel, application type,
and region:
Automotive Telematics Technology Type Outlook (Revenue,
USD Billion, 2018 - 2030)
- Embedded
- Tethered
- Integrated
Automotive Telematics Solution Type Outlook (Revenue, USD
Billion, 2018 - 2030)
- Component
- Service
Automotive Telematics Vehicle Type Outlook (Revenue, USD
Billion, 2018 - 2030)
- Passenger
- Commercial
Automotive Telematics Sales Channel Outlook (Revenue, USD
Billion, 2018 - 2030)
- OEM
- Aftermarket
Automotive Telematics Application Type Outlook (Revenue,
USD Billion, 2018 - 2030)
- Information
& Navigation
- Safety &
Security
- Fleet
Management
- Insurance
Telematics
- Others
Automotive Telematics Regional Outlook (Revenue, USD
Billion, 2018 - 2030)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Mexico
- Middle East
and Africa
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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