The global automotive telematics market size reached USD 100.70 Billion in 2021 and is expected to register a revenue CAGR of 26.1% during the forecast period, according to latest analysis by Emergen Research. Telematics potentially helps usage-based insurance (UBI) business model by benefitting consumers and insurers by providing better risk assessment and over-the-top incentives. Telematics can measure a wide range of factors such as Global Positioning System (GPS), total miles driven, hard braking, airbag deployment, rapid acceleration, hard cornering, and time of day for underwriters to analyze and set premium accordingly. For example, the premium is higher for drivers who drive long distances at higher speeds compared to drivers who drive at slower speeds.
The all-encompassing report on the Automotive Telematics market projects the prospective growth of the industry. It gives and extensive analysis of the market size, share, demand, trends, gross revenue, total earnings to draw a forecast of the growth in the years 2022 to 2030. The study estimates the potential growth of the industry and the factors responsible for the expansion of the business. The study highlights the driving forces, restrains and hurdles for the growth of the market.
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The key companies studied in the report are:
Trimble Inc., AirIQ Inc., Actsoft, Verizon, Airbiquity Inc., Ctrack, Masternaut Limited, Mix Telematics, TomTom International BV., and I.D. Systems Inc.
The research provides answers to the following key questions:
- What will be the growth rate of the Automotive Telematics market for the forecast period, 2017 to 2030? What will be the market size and the share occupied by the prominent vendors by the estimated period?
- What are challenges and threats faced by the prominent vendors operating in the Automotive Telematics market?
- Who are the prominent vendors and what has been their business strategy so far to maintain a competitive edge over their competitors?
- What are the past, present and emerging trends likely to influence the growth rate of the Automotive Telematics market for the forecast period, 2017 to 2030?
- What are the opportunities prominent vendors can bank on to generate more profits during the estimated period?
Browse the complete Global Automotive Telematics Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2030 @https://www.emergenresearch.com/industry-report/automotive-telematics-market
Emergen Research has segmented global automotive telematics market on the basis of vehicle type, sales-channel, connectivity solutions, application, and region:
- Vehicle Type Outlook (Revenue, USD Million; 2019–2030)
- Commercial Vehicles
- Passenger Cars
- Two-Wheelers
- Sales-channel Outlook (Revenue, USD Million; 2019–2030)
- Aftermarket
- OEM
- Connectivity Solutions Outlook (Revenue, USD Million; 2019–2030)
- Embedded
- Tethered
- Smart Phone
- Applications Outlook (Revenue, USD Million; 2019–2030)
- Infotainment system
- Insurance Telematics
- Navigation & Location Based System
- Asset / Fleet Management
- Safety & Security
- V2X
- Others
On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the R&D sector.
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