PUBLISHED DATE : Jan 2019 | Pages : 250
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Automotive Telematics Market size, share, trends, analysis report by Product (embedded devices, tethered devices, and integrated smartphones), Vehicle (passenger cars and commercial vehicles), Installation (OEM and aftermarket), Application (remote diagnostics, navigation & infotainment, fleet management, safety & security, and others), and Geography (APAC, Europe, North America, Latin America, and Middle East & Africa) Industry Analysis Report, Regional Outlook, Growth Trends, Competitive Landscape, Market Share & Forecast, 2018–2024
250 Pages
80 Tables
150 Charts
5 Regions
12 Countries
29 Companies
5 Market Segment
| Report Attribute | Details |
|---|---|
| MARKET SIZE (REVENUE) | USD 130 BILLION (2024) |
| MARKET SIZE (UNIT SHIPMENT) | 154 MILLION UNIT (2024) |
| CAGR | 15% (2019-2024) |
| BASE YEAR | 2018 |
| FORECAST YEAR | 2019-2024 |
| MARKET SEGMENTS | Product (embedded devices, tethered devices, and integrated smartphones), Vehicle (passenger cars and commercial vehicles), Installation (OEM and aftermarket), Application (remote diagnostics, navigation & infotainment, fleet management, safety & security, and others) |
| GEOGRPHIC ANALYSIS | APAC, Europe, North America, Latin America, and Middle East & Africa |
| COUNTRIES COVERED | China, Japan, South Korea, Germany, Spain, UK, US, Mexico, Canada, Brazil, UAE, and South Africa |
The Automotive telematics market size to cross USD 130 billion by 2024, growing at a CAGR of 15% during the forecast period. The rapid technological advancements in automotive electronics and wireless technologies are one of the major factors attributing to the growth of the global automotive telematics market. The growing requirement connectivity and data transfers due to the advancements in communication networks will drive the growth of the market. The integration of next-generation communication networks such as vehicle-to-infrastructure communication (V2I) and vehicle-to-vehicle communication (V2V) will enable a seamless flow of information between vehicles and other mechanisms. The emergence of disruptive technologies such as electrification, diverse mobility, autonomous driving, and rapidly evolving connectivity services will result in the evolution of the global market. The introduction of 5G networks will enable high definition (HD) mapping and transmission of massive volumes of data and latency in sub-milliseconds in the automotive industry over the next few years. The establishment of stringent safety regulations such as ecall and SVT mandates is driving the adoption of these systems. The leading manufacturers are focusing on the development of automotive semiconductors and software that control these systems to increase the efficiency and productivity of the telematics devices. The efforts towards digitalization and development of connected cars will create lucrative opportunities for the leading players. The use of GPS technology to triangulate the vehicle position and digital cellular networks to transmit data from the vehicle to central servers will fuel the transformation of the global automotive telematics market.
The increasing use of electronics such as collision avoidance systems, infotainment, connected systems, and drive-by-wire technologies will drive the demand in the global telematics market. The players are providing fleet management systems as software-as-a-service which helps in critical business processes such as routing, maintenance, and mileage reporting to attract a maximum number of consumers.
The growing popularity of autonomous vehicle concept is contributing to the development of the global automotive telematics market. The OEMs are developing technologies that will help enable the driverless concept. OEM and Tier 1 suppliers such as Audi, Ford, Continental, Bosch, and Delphi are initiating projects that will enable commercialize the concept of autonomous vehicles. Leading communication companies such as Google and Apple are investing in the development of autonomous vehicles. The autonomous vehicle concept will require an entire gamut of electronics and communication to function, which in turn, will drive development in the automotive industry. The leading OEMs and Tier-1 suppliers are collaborating with the electronics industry to gain electronic and communication expertise. For instance, Volkswagen and Ford have set up R&D centers in Silicon Valley to develop and design autonomous hardware and software. These initiatives will augment the growth of the global automotive telematics market shares over the next few years.
This research report includes a detailed segmentation by
Vendors are leveraging smartphones and machine learning algorithms to understand driver behavior
The integrated smartphones segment dominated the global market share in 2018, growing at a CAGR of over 15% during the forecast period. The implementation of touch screens and advanced computing capabilities is driving the growth of the integrated smartphones segment. The introduction of modern-day smartphones with multiple sensors which bring intelligence and awareness will drive invention in the automotive industry. The focus on implementing sensors to understand user behavior and offer customized services specific to consumer requirements will propel the growth of this segment. The integration of accelerometer and gyroscope will enable consumers to measure movement and pinpoint the location. The use of smartphones and machine learning algorithms will enable the systems to adapt as per the driver requirement, avoid a collision, and augment the growth of the global automotive telematics market shares.
The growing demand for UBI, VRM, fleet management, and electronic tolling is propelling the growth of the embedded devices segment. Remote control of the vehicle and the use of safety electronics will drive the application of tethered devices segment.
Emergency systems such as eCall are gaining immense popularity in the global market
Safety and security are the fastest growing segment, at a CAGR of around 16% during the forecast period. The growing number of road traffic accidents and the introduction of stringent safety regulations are the primary factors attributing to the growth of this segment. The government initiatives to the establishment of emergency services like eCall will create lucrative opportunities for the leading operators. The growing popularity of security bases services such as Stolen Vehicle Tracking (SVT) to reduce vehicle theft will drive demand. Moreover, OEMs and manufacturers are also advancing towards making eCall accessible to all customers globally.
Remote diagnostics enable predictive maintenance and optimal vehicle performance. The implementation of cloud technologies offers a combination of telecommunication and informatics that enable two-way information flow. The use of fleet management systems will allow consumers to measure fuel consumption and CO2 output, thereby, fueling demand.
Demand for digital services is contributing to the revenues in the aftermarket segment
Aftermarket segment occupied the majority of the shares in 2018, growing at a CAGR of over 14% during the forecast period. The constant requirement for services and diagnostics due to a rise in wear-and-tear and crash-relevant of parts is driving the demand in the aftermarket segment. The increasing focus on digitalization of services is one of the key areas which the vendors are trying to improve. The growing demand for tethered and smartphone integration solutions is contributing to the rising revenues in this segment. The implementation of stringent safety regulations by government organizations is contributing to the development of this segment.
The popularity of ADAS systems and innovations in battery technology will boost sales of passenger cars
Passenger cars are the fastest growing segment, at a CAGR of more than 17% during the forecast period. The introduction of next-generation electronics sensors that are developed in sync with ADAS technologies will positively impact the growth of the passenger car segment. The implementation of safety regulations that mandates the integration of electronic stability control (ESC), tire pressure monitoring systems (TPMS), driver seat belt indicators, and gear shift indicators in passenger cars across the European and US countries will drive the demand for innovative systems in the global automotive telematics market. Furthermore, the emergence of connected and autonomous cars will result in higher revenues in this segment.
China, Japan, South Korea, and India across APAC are driving the demand in the global market
APAC dominated the largest market share in 2018, growing at a CAGR of around 15% during the forecast period. The increasing penetration of 4G networks and the growing demand for productivity across the commercial vehicle sector is one of the primary factors propelling the growth of the APAC region. The rising demand for electric and connected cars will positively impact the development of the APAC region. China, Japan, India, and South Korea are the largest revenue generators in the APAC region. The presence of leading automotive manufacturers such as Toyota, Honda, Suzuki, and Nissan will lead to the introduction of new systems across the APAC region and the global automotive telematics market.
The adoption of stringent safety and emission norms across various European countries is propelling the growth of this market. The increasing adoption of luxury vehicles and electric cars across the UAE, Iran, Saudi Arabia, and South Africa will contribute to the rising sales.
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