ESOMAR-certified consulting firm Future Market Insights (FMI) has recently published a report on the global APAC automotive telematics market for the forecast period 2021-2031. According to the report, the market is expected to post impressive gains, expanding at a CAGR of over 9% throughout the forecast period. Increasing production of passenger and commercial vehicles are spurring demand.
While the outbreak of the COVID-19 pandemic took a toll on the automotive industry, the recovery that started in last quarter of 2020 and increased production of commercial as well as passenger vehicles bolstered the growth of automotive telematics market.
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With the increassing adoption of embedded systems in the commercial vehicles due to the government regulatory policies across Japan, China and India, the market is expected to witness significant gains over the coming years.
The latest revised edition of the report on automatic telematics market study by FMI forecasts a valuation surpassing a billion dollar mark through 2021. Trends such as software platform integration, adoption of cloud based technology, and integration of android operating systems are accelerating the demand of automotive telematics market across Asia Pacific. .
Key Takeaways from FMI’s APAC Automotive Telematics Market Study
- In terms of vehicle type, passenger vehicles are expected to remain dominant throughout the forecast period
- In terms of technology, embedded systems are expected to be dominant, through 2031
- On the basis of end-user, infotainment segment is anticipated to register a increasing demand through the forecast period
- China is expected to be the most lucrative market of APAC automotive telematics market
“Increasing adoption of advanced technology and continuous development in the technology are expected to boost the market. Also, surging adoption of embedded systems among the consumers is expected to create wide growth opportunities for market players,” says the FMI analyst.
Competitive Landscape
Leading manufacturers are adopting artificial intelligence and big data science for new product launches and connected vehicles. Targeted collaborations and partnerships still remains the core strategy for many leading players to maintain a strong foothold in the industry.
In April 2021, Airbiquity, a global leader in connected vehicle services announced the expansion of a multi-year technology collaboration with NXP Semiconductors to pre-integrate and demonstrate efficient and highly scalable automotive software updates and data management for intelligent connected vehicles.
Also, another leading company, Harman International, a wholly-owned subsidiary of Samsung Electronics Co. Ltd., focused on connected technologies for automotive, consumer and enterprise markets, announced the launch of new future-proof telematics solution. The HARMAN 5G-ready Telecommunications Control Unit (TCU) enables the scalable mobile network connectivity for connected cars using either the current 4G network infrastructure or the faster 5G network.
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Some of the prominent manufacturers profiled by FMI includes Trimble Inc., Visteon Corporation, Airbiquity Inc., Aplicom OY, Scorpion Automotive Limited, iTriangle InfoTech Pvt. Ltd., Minda Corporation Limited, Road Track and Microlise Limited among others.
Key Segments Covered
Vehicle Type
- Commercial
- Passenger
Aircraft Type
- Embedded
- Tethered
- Integrated/Smartphone
End Use
- Infotainment
- Safety
- Navigation
- Diagnostics
Channel Type
- OEM
- Aftermarket
Region
- China
- Japan
- South Korea
- India
- ASEAN
- Oceania (Australia and the Rest of Oceania)
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Key Points Covered in APAC Automotive Telematics Market Study
- Market estimates and forecast 2021-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Automotive Telematics Market and How to Navigate
- Recommendation on Key Winning Strategies
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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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Report: https://www.futuremarketinsights.com/reports/asia-pacific-automotive-telematics-market
Press Release Source: https://www.futuremarketinsights.com/press-release/asia-pacific-automotive-telematics-market
