The Automotive Telematics Global Market Report 2023 by The Business Research Company, provides automotive telematics market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Automotive Telematics Global Market Report 2023, the market size is expected to grow from$100.06 billion in 2022 to $132.87 billion in 2023 at a compound annual growth rate (CAGR) of 32.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global automotive telematics is expected to grow to $360.56 billion in 2027 at a CAGR of 28.3%.
An increase in car accidents is contributing to the growth of the automotive telematics market going forward. Car accidents, also referred to as car collisions or accidents with a car that involve a collision with another vehicle or stationary objects, Automobile telematics reduces accidents by providing real-time feedback to drivers. Major car manufacturers are now installing automotive telematics to keep vehicles and drivers safe.
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The automotive telematics market is segmented:
1) By Vehicle Type: Commercial Cars, Passenger Vehicles, Two-Wheelers
2) By Connectivity Solutions Type: Embedded, Integrated Smatphones, Tethered
3) By Sales Channel Type: Original Equipment Manufacturer (OEM), Aftermarket
4) By Application: Fleet or Asset Management, Navigation And Location-Based System, Infotainment System, Insurance Telematic, Safety And Security, Other Applications
Top Major Players
TomTom Telematics B.V
Trimble Inc.
Omnitracs
I.D.Systems Inc.
Verizon
New product innovations are the key trend gaining popularity in the automotive telematics market. Major companies operating in the automotive telematics sector are focused on introducing new innovations to sustain their position in the market. For instance, in June 2021, Masternaut, a UK-based telematics company specializing in fleet and asset management, launched the MoveElectric transition tool that helps in identifying which journeys could be carried out by an EV (Electric Vehicle) instead of an ICE (Internal Combustion Engine) vehicle based on parameters that reflect business needs and working patterns. It uses comprehensive real-world data that allows fleet managers to measure and demonstrate the wider benefits of the move to EVs, including efficiency, CO2 reduction, and cost savings.
The automotive telematics market report table of contents includes:
1. Executive Summary
2. Automotive Telematics Market Characteristics
3. Automotive Telematics Market Trends And Strategies
4. Automotive Telematics Market – Macro Economic Scenario
5. Automotive Telematics Market Size And Growth
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26. Africa Automotive Telematics Market
27. Automotive Telematics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Telematics Market
29. Automotive Telematics Market Future Outlook and Potential Analysis
30. Appendix
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