Automotive Telematic Market: Automotive Telematics Transforming Vehicular Safety and Security Services

Posted on 2019-02-15 by Mark Hub in Automotive // 0 Comments

Rockville, USA, 2019-Feb-15 — /EPR Network/ — Telematics has emerged as an important technology in the modern vehicular system. Automotive telematics has significantly boosted the functional capabilities of vehicles, making them more safe and connected. Currently, telematics is used in enhancing automotive safety, mapping and communication systems. Fact.MR’s new report reveals that the global market for automotive is set to increase at a robust CAGR of 24.2% over the forecast period (2017-2022) to reach a valuation of US$ 53,280 Mn.

This growth will be facilitated by factors such as rising number of internet users, introduction of sophisticates communication systems, favorable government policies, and development of high-speed broadband networks. Following takeaways from Fact.MR’s report on the global automotive telematics market assert on its future prospects.

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Automotive Telematics Transforming Vehicular Safety and Security Services

Based on services, safety & security is expected to remain one of the most attractive segments during the forecast period. In terms of revenue, the safety & security segment is expected to command for close to two-third share of the market towards the end of 2017. Use of automotive telematics is also expected to increase in other services such as information & navigation, and entertainment & remote diagnostics in near future.

Based on products type, the embedded segment is expected to grow from US$ 9,109.4 Mn in 2017 to US$ 23,701.5 Mn by 2022-end, reflecting a robust CAGR. In terms of revenue, this segment is projected to command for around half of the market value by 2017-end. Meanwhile, the tethered segment is anticipated to register the fastest CAGR over the forecast period.

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Among region, Europe is expected to remain the frontrunner in the global automotive telematics market in terms of revenue over 2022. This is primarily due to presence of some of the leading auto component manufacturers and automotive companies in the region. Meanwhile, the market in Asia Pacific excluding Japan (APEJ) is expected to expand at the highest CAGR over the forecast period.

OEMs will remain the largest sales channel for automotive telematics throughout the forecast period. Increasing strategic partnerships and collaborations between telematics component manufacturers and top automotive companies is reassuring OMEs’ dominance.

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Some of the top companies operating in the global telematics market include Harman International Industries, Incorporated, Trimble Inc, TomTom N.V, Masternaut Limited, Verizon Telematics, Inc, Airbiquity Inc., Visteon Corporation, Robert Bosch GmbH, Delphi Automotive Plc, and Magneti Marelli S.p.A. Many of these player are channelizing their investments in further product development and integration of other technologies in vehicle infotainment system.

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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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