Automotive Telematics Market Growing Over 5x To Reach US$ 217.7 Bn Throughout The 2021-2031 Forecast Period

The global automotive telematics market stood at over US$ 22 Bn in 2018, registering a Y-o-Y growth of 23.3% by 2019. Prospects appear even more optimistic, with the industry expected to reach US$ 41.6 Bn by 2021, growing over 5x to reach US$ 217.7 Bn throughout the 2021-2031 forecast period.

As per Fact.MR’s report, over the last five years, sales of automotive telematics services accelerated at an impressive pace, registering a CAGR of 16% from 2016 to 2020. Automotive telematics systems find widespread applications in communication, mapping and for improving the safety features in an automotive.

Prospects somewhat contracted during the COVID-19 pandemic, given the troughs experienced in the global automotive sector in the initial half of the pandemic crisis. A 16% contraction was experienced in the global automotive industry in 2020, however, demand for telematics remained strong. This is also attributed to a large extent to the proliferation of EVs.

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The report offers actionable and valuable market insights of Automotive Telematics. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Automotive Telematics Market across various industries and regions.

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Automotive Telematics market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Automotive Telematics

This newly published and insightful report sheds light on Market Insights of Automotive Telematics, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Automotive Telematics Market.

Automotive Telematics Market – Competitive Matrix

• Visteon Corporation entered into a productive agreement to acquire AllGo Systems, a key developer of embedded multimedia system solutions. The acquisition is aimed at leveraging AllGo’s profound expertise in multimedia as well as smartphone connectivity software for adding scale and depth to the infotainment software expertise of Visteon.
• In 2017, Robert Bosch GmbH completed the acquisition of ITK Engineering AG with an agreement that the latter would be able to retain its brand identity. This primary aim of this acquisition is to strengthen the position of Bosch in custom systems & software development services. Alongside, the acquisition will enable ITK Engineering AG to escalate its geographical outreach, thereby, bringing positive outcomes to both the companies.
• In 2017, Delphi teamed up with Transdev to work collaboratively on self-driving buses. This partnership will be fruitful since it will be a convergence of Delphi’s self-driving technology and Transdev’s sound experience in mobility operations.

Additional significant players profiled in the report that operate in the global automotive telematics market comprise of Harman International Industries, Inc., Magneti Marelli S.p.A, Airbiquity Inc., Verizon Telematics, Inc., TomTom N.V., Masternaut Limited, and Trimble Inc., among others.

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According to a new report published by Fact.MR, the automotive telematics market is likely to continue its solid run in 2019, with global revenues likely to surpass US$ 27 billion in 2019. With the inclusion of automotive telematics, the functional capabilities of vehicles are witnessing a steady upgrade. Automotive telematics system finds widespread applications in communication, mapping and for improving the safety features in an automotive. As a result, a notable increase in the adoption of the automotive telematics systems has been witnessed in the recent past, and the status quo is likely to continue over the course of the forecast period.

Key driving factors for the automotive telematics include favorable government regulations, ubiquitous use of smartphones, enhanced broadband networks, and the advent of sophisticated communication technologies. Another key driver for the automotive telematics market is an effective sales channel. The adoption of automotive telematics can also be attributed to the far-reaching capabilities of OEMs. With the rise in the strategic partnership and productive collaboration between the leading automotive companies, OEM emerges as a streamlined sales channel for automotive telematics. This is facilitating a steady growth in the automotive telematics market, with revenues likely to grow at over 23% in 2019.

Europe continues to be the numero uno market for automotive telematics, owing to the high concentration of forerunning players that focus on scaling and expansion of their businesses in parallel to diversifying their product portfolio. Gains have also been steady in Asia Pacific excluding Japan (APEJ), driven by healthy automobile sales in China and India.

Intensified Competition in the Global Automotive Telematics Market to Drive Robust Growth

Increasing demand for transportation and rise in the disposable income of consumers have offered lucrative growth opportunities to the automotive industry. With the manufacturers of the auto-industry tapping into the next-gen automotive capabilities, smart technologies like automotive telematics are finding applications in vehicular communication, safety, road transportation, and mapping system. As a result of the increase in the adoption rate of the system, the global automotive telematics market is undergoing through a phase of innovation, wherein the key players have a significant role to play. For instance, Visteon Corporation will showcase a digitally advanced cockpit technology as a crucial shift towards the next-gen automotive. The novel cockpit electronics architecture consists of high resolution display systems with curved non-rectangular edges to enhance the viewing experience for the riders.

According to the study, the newbies of the automotive telematics market dive into the business to bag the lucrative opportunity that market has to offer. This has compelled the established players to enter into strategic mergers and acquisitions to reinforce their position in the map of the global automotive telematics market.

Technological Breakthrough to Nurture the Growth of the Global Automotive Telematics Market

Soaring demand for transportation and the need to stay ahead of the competition has hard pressed the auto-manufacturers to converge their products with the next-gen technologies, in order to pave ways to sales opportunities. Futuristic automotive trends such as autonomous driving cars require continuous transmission of signals for efficient communication. As a result, there has been a perpetual rise in the demand for automotive telematics to make the automotive safer and boost its functional capacity.

Regulations legislated by the government pertaining to the prevention of the greenhouse gas emission has resulted in the development of electric vehicles. A huge turnover is anticipated for the electric vehicles and self-driving cars, which will have automotive telematics incorporated in the vehicles for enabling satellite navigation services as well as in-car mobile communications. This is predicted to lend sustainable growth opportunities to the automotive telematics market.

The Fact.MR report tracks the automotive telematics market for the period 2012 – 2022. According to the report, the automotive telematics market is poised to grow at an impressive CAGR of 24.2% through 2022.

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Report Benefits & Key Questions Answered

• Automotive Telematics Company & brand share analysis: The report offers in-depth Automotive Telematics brand share analysis to estimate percentage of the market covered by Tier 1, Tier 2, and Tier 3 companies
• Automotive Telematics Historical volume analysis: The report offers a comparative analysis between historic sales of Automotive Telematics and projected sales performance for 2021-2031
• Automotive Telematics Category & segment level analysis: Fact MR presents a comprehensive analysis of factors enabling sales growth across key segments. It underscores chief growth drivers and offers valuable information to identify sales prospects a local and regional levels
• Automotive Telematics Consumption by demographics: To offer informed recommendation, the report studies behavior and consumption pattern of consumers. The demographics analysis is intended at helping business better understand consumer preference and design their product and market strategies around it
• Post COVID consumer spending on Automotive Telematics: The Fact MR market survey carefully studies consumer spending behavior post COVID-19. It gauges how prevailing trends have influenced their behavior, subsequently impacting their spending power

More Valuable Insights on Automotive Telematics Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Automotive Telematics, Sales and Demand of Automotive Telematics, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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