Embedded Automotive Telematics Demand is Projected to Accelerate at a CAGR of 18% by 2032
The global automotive telematics market was valued at around US$ 41.59 Billion in 2022. Sales of Automotive Telematics are projected to accelerate at a CAGR of 18% to top US$ 217.7 Billion by 2032.
The global automotive telematics market is growing as a consequence of the increasing connectivity solutions trend and the increased ease of vehicle assessment. However, the threat of data hacking may be a significant impediment to market expansion.
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Key Benefits for Automotive Telematics Market:
- This study presents analytical depiction of the automotive telematics Market analysis along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities of the market with a detailed impact analysis.
- The current automotive telematics market size is quantitatively analyzed from 2018 to 2026 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the automotive telematics industry.
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Market Competition
Prominent service providers are relying on introducing new software which facilitate advanced damage detection systems, based on cloud and artificial intelligence approaches. Noteworthy developments in the past few months are as follows :
- In January 2021, Harman International Industries Inc. announced the introduction of HARMAN Turbo Connect (TBOT). The software anticipates and mitigates connectivity discrepancies on the road. This addition to the current portfolio satisfies current demand for high speed connectivity with low latency, especially when used with 5G-enabled technologies, including its Smart Conformal Antenna.
- In November 2021, Robert Bosch GmbH introduced its Ridecare services, equipped with a sensor box, to detect damage to a vehicle and smoke inside the vehicle. The sensor deploys a cloud-based data analysis using artificial intelligence, disbursing information on whether a vehicle has been damaged, or someone has smoked in it. Pilot projects are being initiated across North America, Asia and Germany.
Key Companies Profiled:
- Harman International Industries, Inc.
- Magneti Marelli S.p.A
- Airbiquity Inc.
- Verizon Telematics, Inc.
- TomTom N.V.
- Masternaut Limited
- Trimble Inc.
- Visteon Corporation
- Robert Bosch GmbH
- Delphi Automotive Plc.
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Key Segments Covered in the Automotive Telematics Market Survey
- By Product Type :
- Embedded Automotive Telematics
- Integrated Automotive Telematics
- Tethered Automotive Telematics
- By Services :
- Safety and Security
- Information & Technology
- Entertainment & Remote Diagnostics
- By Vehicle Type :
- Passenger Car
- LCV Automotive
- HCV Automotive
- By Sales Channel :
- OEMs
- Aftermarket
Key Questions Covered in the Automotive Telematics Market Report
- What is the projected value of the Automotive Telematics factors Industry in 2022?
- At what rate will the global Automotive Telematics factors market size grow until 2032?
- Which are the factors hampering the growth of Automotive Telematics factors?
- Which region is expected to lead in the global Automotive Telematics factors market By 2032?
- Which are the factors driving the Automotive Telematics factors Industry during the forecast period?
- What is the expected market value of the Automotive Telematics factors market during the forecast period?
Regional Analysis For Automotive Telematics Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
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This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on mediarelations@xherald.com.
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